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UPDATE: Stifel Downgrades Washington Real Estate Investment Trust As Republican Congress Puts Brakes On Recovery

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In a report published Tuesday, Stifel analyst John Guinee downgraded the rating on Washington Real Estate Investment Trust (NYSE: WRE) from Buy to Hold, and removed the $29.00 price target.

In the report, Stifel noted, “We are downgrading Washington REIT to Hold from Buy as the soon to be Republican controlled Congress is promising a smaller budget, a smaller Federal Government footprint, and decisions being pushed to the state level. We think the painfully slow office recovery in the greater Washington, D.C. MSA will pause; perhaps for years. The Washington, D.C.-centric REITs we cover all appear to be in the same situation. The private market investors take a 5-10 year perspective and are aggressively underwriting core and core plus assets, while the public markets take a more short-term quarterly view.”

Washington Real Estate Investment Trust closed on Monday at $27.70.

Latest Ratings for WRE

DateFirmActionFromTo
Jul 2020Raymond JamesMaintainsOutperform
Jul 2020JP MorganUpgradesUnderweightNeutral
Jun 2020StifelMaintainsHold

View More Analyst Ratings for WRE
View the Latest Analyst Ratings

 

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Posted-In: John Guinee StifelAnalyst Color Downgrades Analyst Ratings

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