Washington Real Estate Receives a Hold from Wells Fargo

By Ryan Adsit

Wells Fargo analyst Blaine Heck maintained a Hold rating on Washington Real Estate (NYSE: WRE) yesterday and set a price target of $32. The company’s shares closed yesterday at $31.06.

Washington Real Estate has an analyst consensus of Hold.

Washington Real Estate’s market cap is currently $2.32B and has a P/E ratio of 12.69. The company has a book value ratio of 2.1951.

Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is neutral on the stock. Most recently, in September 2015, Edward Murn, the Managing Director, Residential of WRE bought 1,000 shares for a total of $25,240.

Washington Real Estate Investment Trust engages in the ownership and operation of income-producing real estate properties. It operates through the following segments: Office, Multifamily, and Retail. The Officer segment provides office space fro various types of businesses and professions. The Multifamily segment provides rental housing for individuals and families. The Retail segment prototypes are typically grocery store anchored neighborhood centers that include other small shop tenants or regional power centers with several junior box tenants. The company was founded by Arthur A. Birney and Benjamin H. Dorsey in 1960 and is headquartered in Washington, DC.