Washington Real Estate Investment Trust (NYSE: WRE) shares rose in value in early trading today on lighter trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, U.S. stocks edged lower Monday, with major indexes retreating from record levels.
The Dow Jones Industrial Average DJIA, -0.31% fell 48 points, or 0.2%, to 19,916, while the S&P 500 index SPX, -0.29% lost 5 points to 2,272, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.03% rose 4 points to 5,529, a gain of about 0.1%.
Analysts at Raymond James Financial, Inc. upgraded shares of Washington Real Estate Investment Trust (NYSE: WRE) from Market Perform to Outperform today. Raymond James Financial, Inc. currently has a rating of Outperform on the stock. A number of other analysts have issued reports on the company in recent days, and the company has secured a consensus one-year price target of $33.25, lower than the opening price of $33.57, a difference of 10.06 percent. Washington Real Estate Investment Trust stock has a 52-week high of $34.61. Usually, after analysts issue an upgrade report on a stock, they will later issue sporadic updates, often followed by a price target change.
Shares of Washington Real Estate Investment Trust (NYSE: WRE) opened at $33.57 yesterday trading between $32.89 and $33.57, and last traded at $33.05, which is an increase of $0.17 from the previous closing price.
Washington Real Estate Investment Trust (NYSE: WRE) currently has a market cap of 2.46B.
Washington Real Estate Investment Trust (NYSE: WRE) Average Daily Trading Volume
The stock’s average daily volume is 460,268 shares out of a total float 74,114,000 and some 55,914 shares traded hands yesterday, 72 percent lower than normal. lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to make sure you are buying the right stocks.
Washington Real Estate Investment Trust (NYSE: WRE) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.
Trades for Washington Real Estate Investment Trust (NYSE: WRE) have ranged from $23.89 – 34.610, and the stock now has a 50-day MA of $31.91 and 200-day MA of $31.48. Today’s last price is 4.52%% below the 52 week high of $34.61.
Earnings growth is a crucial factor to consider when investing in stocks and investors identify companies that have been successful at growing their earnings at least 25% or more over a 3 year period.
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