WRE - WRE STOCK NEWS

WashREIT (NYSE:WRE) announced the income tax treatment for its 2021 dividend distributions, confirming final income allocations for shareholders. Total gross distribution per share amounted to $1.07000, with a return of capital of $1.07000. The payments were made quarterly: $0.30000 on January 6, April 5, and July 6, and $0.17000 on October 5. Shareholders should consult tax advisors for personalized guidance. The company focuses on providing quality housing to middle-income renters in the Washington, DC metro and Southeast regions, backed by a proven track record in residential repositioning.

WashREIT (NYSE:WRE) is set to release its fourth quarter earnings results after market close on February 17, 2022. The earnings conference call will take place on February 18, 2022, at 11:00 am ET, accessible via USA and International toll numbers. An instant replay of the call will be available until March 4, 2022. WashREIT owns approximately 7,300 residential apartment homes and 300,000 square feet of commercial space in the Washington, DC area, with a focus on providing quality housing to middle-income renters in high-demand submarkets.

WashREIT (NYSE: WRE) has released its Green Bond Allocation Report, detailing the allocation of proceeds from its $350 million green bond offering, which closed on December 17, 2020. $347 million has been allocated to finance verified green building projects, primarily in multifamily communities with BREEAM In-Use Very Good certifications. Additionally, funds were allocated to Trove, WashREIT's first multifamily development achieving LEED Silver certification. The company continues to pursue BREEAM certifications across its portfolio, reaffirming its commitment to sustainability.

Washington Real Estate Investment Trust (WRE) reported a net income of $31.3 million for Q3 2021, equating to $0.37 per diluted share. NAREIT FFO was $3.1 million ($0.04/share), while Core FFO reached $17 million ($0.20/share). Same-store multifamily NOI rose 2% year-over-year, despite an overall 0.4% decrease. Average occupancy increased to 95.8%. Significant portfolio transformation included the sale of office and retail properties totaling $934.3 million and the acquisition of a 240-unit multifamily property for $48 million. Full-year guidance for Core FFO is set between $1.05 and $1.08/share.

WashREIT (NYSE: WRE) is set to release its third quarter earnings results on October 28, 2021, after market close. A conference call will follow on October 29, 2021, at 11:00 am ET. The call can be accessed via a toll-free number (888-506-0062) or internationally (973-528-0011), with an entry code of 714844. An instant replay will be available until November 12, 2021. WashREIT, focused on providing affordable housing in the Washington Metro area, operates about 7,100 multifamily units and 1 million square feet of commercial space, with plans to expand into Southeastern markets.

On July 29, 2021, Washington Real Estate Investment Trust (WRE) reported a net loss of $7 million for Q2 2021. Key highlights included a decline in same-store multifamily net operating income (NOI) by 2.0% due to COVID-19 impacts, although new lease rates improved significantly, with growth exceeding 10% in July. The company sold its office portfolio for $766 million and plans to sell its remaining retail assets for $168.3 million. WRE expects same-store multifamily NOI in 2021 to range from $85.5 million to $86.5 million, and the average expected cap rate for upcoming multifamily acquisitions is projected at 4%.

WashREIT (NYSE: WRE) has successfully completed the sale of its 12 office assets, excluding Watergate 600, for $766 million. The company plans to use the net proceeds to enhance its multifamily real estate platform and reduce leverage by redeeming $300 million of senior unsecured notes due in 2022 around August 26, 2021. This strategic move marks a significant milestone in WashREIT's transition to a multifamily-focused REIT. Further updates on this expansion into Southeastern markets will be provided during the second quarter earnings call on July 30, 2021.

WashREIT (NYSE:WRE) will announce its second quarter earnings results on July 29, 2021, after market close. A conference call is scheduled for July 30, 2021, at 11:00 am ET, accessible via toll-free and international numbers. The call will be available for replay until August 13, 2021. WashREIT manages a portfolio of 43 properties, including 3.4 million square feet of commercial space and 7,059 multifamily apartments, with an enterprise value of approximately $3.0 billion, showcasing its strong presence in the competitive Washington, DC Metro real estate market.

WashREIT (NYSE: WRE) announced the sale of its office portfolio for $766 million as part of its strategic transformation into a multifamily REIT. This transaction includes twelve office assets totaling 2.37 million square feet in the Washington, DC metro area, expected to close in Q3 2021. Proceeds will fund multifamily acquisitions in the Southeast and reduce leverage. The company aims to focus solely on multifamily properties, targeting mid-market renters in growing markets like Atlanta, Raleigh-Durham, and Charlotte. The impact on 2021 financial outlook remains undetermined.