Washington REIT Reports In-Line Earnings (WRE)

Washington Real Estate Investment Trust WRE reports Q2 Funds From Operations (FFO) of $0.50 versus estimates of $0.50. Washington Real Estate Investment Trust reports Q2 revenues of $75.1 million versus estimates of $76.71 million. Revenues decreased by 0.7% year over year. Net income was $0.24 per diluted share compared to $0.23 per diluted share in the same period one year ago. "Investment opportunities in the Washington, DC market are steadily increasing, and we are pleased to be returning to the fundamental real estate business of buying and selling buildings. Our recent Quantico acquisition and Parklawn disposition exemplify our stated plan of asset recycling to improve the overall quality of our portfolio. We continue to work to increase occupancy and closely manage expenses at our existing properties, and we believe that our solid second quarter results reflect the hard work of our employees and the strength and depth of the economy in the Washington region," said George "Skip" McKenzie, President and Chief Executive Officer of WRIT. Washington Real Estate Investment Trust is a self-administered, self-managed, equity real estate investment trust. The company's business consists of the ownership and operation of real property in the greater Washington metro region.