Washington Real Estate Investment Trust (NYSE:WRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage currently has a $37.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.16% from the company’s previous close.

According to Zacks, “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. “

Other research analysts also recently issued reports about the stock. BidaskClub raised shares of Washington Real Estate Investment Trust from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. Stifel Nicolaus reissued a “hold” rating and set a $33.00 price objective on shares of Washington Real Estate Investment Trust in a research report on Thursday, September 21st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $34.58.

Washington Real Estate Investment Trust (NYSE WRE) opened at 32.99 on Thursday. The company’s 50-day moving average is $32.82 and its 200 day moving average is $32.27. Washington Real Estate Investment Trust has a 52 week low of $27.65 and a 52 week high of $33.96. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 24.95 and a beta of 0.97.

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A number of institutional investors have recently modified their holdings of WRE. Independent Advisor Alliance purchased a new position in Washington Real Estate Investment Trust during the 4th quarter valued at $104,000. BlackRock Japan Co. Ltd increased its position in Washington Real Estate Investment Trust by 0.9% during the 1st quarter. BlackRock Japan Co. Ltd now owns 3,608 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 33 shares during the period. BNP Paribas Arbitrage SA purchased a new position in Washington Real Estate Investment Trust during the 2nd quarter valued at $106,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Washington Real Estate Investment Trust by 8.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,629 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 280 shares during the period. Finally, Madden Advisory Services Inc. bought a new stake in shares of Washington Real Estate Investment Trust during the 1st quarter valued at $131,000. 84.99% of the stock is currently owned by institutional investors and hedge funds.

About Washington Real Estate Investment Trust

Washington Real Estate Investment Trust is a self-administered equity real estate investment trust. The Company’s business consists of the ownership and operation of real property in the greater Washington metro region. The Company owns a diversified portfolio of office buildings, multifamily buildings and retail centers.

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Analyst Recommendations for Washington Real Estate Investment Trust (NYSE:WRE)

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