Live Stock Coverage: Washington Real Estate Investment Trust’s Stock Is Sell After Today’s Gap Down

Live Stock Coverage: Washington Real Estate Investment Trust's Stock Is Sell After Today's Gap Down

The stock of Washington Real Estate Investment Trust (NYSE:WRE) gapped down by $0.05 today and has $28.72 target or 6.00% below today’s $30.55 share price. The 9 months technical chart setup indicates high risk for the $2.26 billion company. The gap down was reported on Oct, 4 by Barchart.com. If the $28.72 price target is reached, the company will be worth $135.60M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 1.83% or $0.57 on October 3, hitting $30.55. Washington Real Estate Investment Trust (NYSE:WRE) has risen 14.16% since March 1, 2016 and is uptrending. It has outperformed by 1.95% the S&P500.

Analysts await Washington Real Estate Investment Trust (NYSE:WRE) to report earnings on October, 27 after the close. They expect $0.44 EPS, down 2.22% or $0.01 from last year’s $0.45 per share. WRE’s profit will be $32.55M for 17.36 P/E if the $0.44 EPS becomes a reality. After $0.46 actual EPS reported by Washington Real Estate Investment Trust for the previous quarter, Wall Street now forecasts -4.35% negative EPS growth.

Washington Real Estate Investment Trust (NYSE:WRE) Ratings Coverage

Out of 3 analysts covering Washington REIT (NYSE:WRE), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Washington REIT has been the topic of 3 analyst reports since December 3, 2015 according to StockzIntelligence Inc. Robert W. Baird downgraded the stock to “Neutral” rating in Wednesday, August 17 report. JP Morgan maintained Washington Real Estate Investment Trust (NYSE:WRE) on Monday, May 16 with “Neutral” rating. The firm has “Overweight” rating by CapitalOne given on Thursday, December 3.

According to Zacks Investment Research, “WASHINGTON R.E. INV. TRUST is a self-administered qualified equity real estate investment trust. The Trust’s business consists of the ownership of income-producing real estate properties principally in the Greater Washington-Baltimore Region. The Trust has a fundamental strategy of regional focus, diversified property type ownership and conservative financial management.”

Insitutional Activity: The institutional sentiment increased to 1.48 in Q2 2016. Its up 0.27, from 1.21 in 2016Q1. The ratio is positive, as 12 funds sold all Washington Real Estate Investment Trust shares owned while 51 reduced positions. 17 funds bought stakes while 76 increased positions. They now own 61.04 million shares or 5.87% more from 57.66 million shares in 2016Q1.
Blackrock Fund Advsrs holds 0.02% of its portfolio in Washington Real Estate Investment Trust (NYSE:WRE) for 2.17M shares. M&T Natl Bank Corp holds 0% of its portfolio in Washington Real Estate Investment Trust (NYSE:WRE) for 7,463 shares. Metropolitan Life Insurance Ny last reported 55,605 shares in the company. James last reported 0% of its portfolio in the stock. Jpmorgan Chase And holds 0% or 17,979 shares in its portfolio. Iowa Financial Bank reported 7,500 shares or 0.1% of all its holdings. Henderson Grp Public Ltd Co has 272,563 shares for 0.07% of their US portfolio. Janney Montgomery Scott Ltd Liability last reported 0% of its portfolio in the stock. First Manhattan owns 4,000 shares or 0% of their US portfolio. Citigroup has 0% invested in the company for 90,457 shares. Moreover, Folger Nolan Fleming Douglas Capital Mgmt has 0.51% invested in Washington Real Estate Investment Trust (NYSE:WRE) for 93,717 shares. Moreover, Blackrock Institutional Trust Na has 0.01% invested in Washington Real Estate Investment Trust (NYSE:WRE) for 2.70M shares. Moreover, Ladenburg Thalmann Fincl Svcs has 0.01% invested in Washington Real Estate Investment Trust (NYSE:WRE) for 22,249 shares. Moreover, Goldman Sachs Group Inc Inc has 0.03% invested in Washington Real Estate Investment Trust (NYSE:WRE) for 2.81M shares. Paloma Prtn Management Com last reported 0.01% of its portfolio in the stock.

More notable recent Washington Real Estate Investment Trust (NYSE:WRE) news were published by: Bizjournals.com which released: “Washington REIT closes the loop on $240 million portfolio sale” on September 22, 2016, also Zacks.com with their article: “Washington Real Estate Investment Trust (WRE) Sees Hammer Chart Pattern: Time …” published on August 31, 2016, Prnewswire.com published: “Washington Real Estate Investment Trust Announces Fourth Quarter And Year-End …” on February 18, 2016. More interesting news about Washington Real Estate Investment Trust (NYSE:WRE) were released by: Bizjournals.com and their article: “Washington REIT moves to shed suburban Maryland office properties” published on January 12, 2016 as well as Seekingalpha.com‘s news article titled: “Washington Real Estate Investment Trust: Fairly Valued REIT Tied To DC Growth” with publication date: December 23, 2015.

WRE Company Profile

Washington Real Estate Investment Trust, incorporated on May 22, 1996, is a self-administered, self-managed equity real estate investment trust (REIT). The Company’s business consists of the ownership and operation of income-producing real property in the greater Washington metro region. The Company’s three divisions include office, retail and multifamily. The Firm owns a portfolio of office buildings, multifamily buildings and retail centers.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment