Washington Real Estate Investment Trust (NYSE: WRE) shares fell on Thursday Dec 1 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, U.S. stocks opened with slight gains on Thursday.
The Dow Jones Industrial Average DJIA, +0.31% rose 38.22 points, or 0.2%, to 19,174, while the S&P 500 SPX, +0.01% added 2.1 points to 2,202, a rise of 0.1%.
The Nasdaq Composite Index COMP, -0.32% rose less than 1 point to 5,323, essentially unchanged on the day.
Wells Fargo & Co. analysts reiterated its Hold rating on Washington Real Estate Investment Trust (NYSE: WRE) in a note to investors, making it one of the more closely watched stocks on Wall Street. Wells Fargo & Co. currently has a rating of Hold on the stock. The one-year price target of $33.25 is above the opening price of $30.73, causing a fair amount of other analysts to issue statements on the stock in recent days. Looking back over the last 52 weeks, Washington Real Estate Investment Trust stock has a high of $34.61. Stock prices often shift to the upside on recommendations and new price targets of professional brokerage firms.
Washington Real Estate Investment Trust (NYSE: WRE) shares last traded at $30.95, which represents a decrease of $0.11 per share or -0.35% from the previous closing price. Opening at $30.73, they varied from $30.55 and $30.95 throughout the day.
Washington Real Estate Investment Trust (NYSE: WRE) now has a market cap of 2.31B.
Washington Real Estate Investment Trust (NYSE: WRE) Average Daily Trading Volume
The stock’s average daily volume is 504,053 shares out of a total float 74,113,000 and some 33,247 shares crossed the trading desk yesterday, lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to determine substantial volume growth or distribution by institutional investors.
As with all potential breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to demonstrate that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by 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 ensure 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 identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
Trades for Washington Real Estate Investment Trust (NYSE: WRE) have ranged from $23.89 – 34.61, and the stock now has a 50-day MA of $29.67 and 200-day MA of $31.00. Today’s last price is 10.57%% lower than the 52 week high of $34.61.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have grown their earnings by at least 25% for 3 consecutive years.
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