Washington Real Estate Investment Trust (WRE) was Downgraded by Robert W. Baird to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 35 from a previous price target of $32 . Earlier the firm had a rating of “Outperform ” on the company shares. Robert W. Baird advised their investors in a research report released on Aug 17, 2016.
On the company’s financial health, Washington Real Estate Investment Trust reported $0.46 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.42. The company had revenue of $79.41 million for the quarter, compared to analysts expectations of $77.74 million. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS.
Washington Real Estate Investment Trust closed down -0.21 points or -0.62% at $33.57 with 3,59,717 shares getting traded on Monday. Post opening the session at $33.96, the shares hit an intraday low of $33.57 and an intraday high of $34.02 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Investors should note that on Jul 27, 2016, Washington Real Estate Investment Trust announced a cash dividend of $0.3000. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 30, 2016.
In a different news, on Sep 23, 2015, Edward J. Iv Murn (Managing Director, Residential) purchased 1,000 shares at $25.25 per share price. According to the SEC, on Jun 8, 2015, John P Mcdaniel (director) sold 1,875 shares at $25.40 per share price.
Washington Real Estate Investment Trust (WRIT) is a self-administered self-managed equity real estate investment trust (REIT). The Companys three segments include office retail and multifamily. WRITs business consists of the ownership and operation of income-producing real property in the greater Washington metro region. It owns a diversified portfolio of office buildings medical office buildings multifamily buildings and retail centers. Retail shopping centers are grocery store anchored neighborhood centers that include other small shop tenants or regional power centers with junior box tenants. Multifamily properties provide rental housing for individuals and families throughout the Washington metro region. As of December 31 2014 the Company owned a diversified portfolio of 56 properties totaling approximately 7.4 million square feet of commercial space and 3053 residential units and land held for development.