Stock News Review: WashREIT (NYSE: WRE)

 WashREIT (NYSE: WRE), spotted trading -16.08% off 52-week high price. On the other end, the stock has been noted 18.64% away from the low price over the last 52-weeks. The stock changed 0.45% to recent value of $26.73. The stock transacted 1020491 shares during most recent day however it has an average volume of 622.68K shares. The company has 81.83M of outstanding shares and 79.29M shares were floated in the market.  

 WashREIT (NYSE: WRE), a leading owner of commercial and multifamily properties in the Washington, DC area, has closed the previously announced acquisition of two garden-style multifamily assets located in Montgomery County, Maryland consisting of 428 units for $82 million. These two properties represent the second tranche of WashREIT’s value-add multifamily portfolio acquisition, branded ‘Assembly.’ The entire Assembly portfolio consists of 2,113 units across seven apartment communities in Northern Virginia and Montgomery County, Maryland.

We are executing our 2019 strategic capital allocation plan on schedule and making steady progress toward achieving our strategic objectives of de-risking our portfolio and strengthening its cash flows, said Paul McDermott, President and CEO of WashREIT. ’s transaction completes the acquisition of the Assembly portfolio, which we believe will enable WashREIT to further capitalize on robust regional demand for value-oriented rental housing and to continue to create long-term value for our shareholders.

The completed acquisitions include: 2 Observation Court, Germantown, MD and 99 Watkins Mill Road, Gaithersburg, MD. The previously announced completed Assembly acquisitions include: 205 Century Place, Alexandria, VA; 13690 Legacy Circle, Herndon, VA; 2511 Farmcrest Drive, Herndon, VA; 10519 Lariat Lane, Manassas, VA and 86 Heritage Way, NE, Leesburg, VA. The Company now owns a total of 6,381 multifamily units in the Washington Metro region, approximately 60% of which are located within a five-mile radius of Amazon HQ2. Its earnings per share (EPS) expected to touch remained 26.60% for this year while earning per share for the next 5-years is expected to reach at 3.90%. WRE has a gross margin of 65.40% and an operating margin of 20.60% while its profit margin remained 5.20% for the last 12 months. 

 The price moved ahead of -2.25% from the mean of 20 days, -2.62% from mean of 50 days SMA and performed -2.24% from mean of 200 days price. Company’s performance for the week was -3.36%, 1.83% for month and YTD performance remained 16.22%.

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