Washington Real Estate Investment Trust Announces First Quarter Financial and Operating Results and Quarterly Dividend
Washington Real Estate Investment Trust (WRE)
Last washington real estate investment trust earnings: 4/22 04:16 pm
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US:NYSE Investor Relations:
washreit.com
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Source: GlobeNewswire
WASHINGTON, April 22, 2020 (GLOBE NEWSWIRE) -- Washington Real Estate Investment Trust (“WashREIT” or the “Company”) (NYSE: WRE), a leading owner and operator of multifamily and commercial properties in the Washington, DC area, reported financial and operating results today for the quarter ended March 31, 2020: Financial Results Net income attributable to controlling interests was $1.7 million, or $0.02 per diluted shareNAREIT FFO(1) was $31.4 million, or $0.38 per diluted shareCore FFO(1) was $0.37 per diluted share Operational Highlights Net Operating Income (NOI)(2) was $48.2 millionSame-store(3) NOI declined 1.6% and cash NOI declined 1.1% over first quarter 2019. The decline was primarily due to a same-store office NOI decline of 6.6% over first quarter 2019, driven largely by scheduled office lease expirations as well as lower expense reimbursementsSame-store multifamily NOI and cash NOI increased by 6.8% over the prior year periodSame-store multifamily blended lease rate
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