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Washington Real Estate Investment Trust (WRE) reported a net loss of $1.1 million or $0.02 per diluted share for Q1 2021. NAREIT FFO totaled $28.5 million ($0.34/share), with Same-store NOI dropping 6.5%. Despite a 98% rent collection rate, multifamily lease rates fell by 4.8%. However, new lease rates improved by over 5% in April. The total liquidity stood at approximately $670 million. A quarterly dividend of $0.30 per share was declared for July 6, 2021. Guidance for Q2 Core FFO is set between $0.32 to $0.35 per diluted share.
WashREIT (NYSE: WRE) has expanded its Green Bond Framework for eligible green projects, including eight multifamily assets acquired in 2019. The initiative aims for BREEAM In-Use Very Good certifications for most assets, focusing on energy and water efficiency, and renewable energy. Proceeds will primarily fund buildings achieving BREEAM certification. This move aligns with WashREIT's goals for environmental sustainability and reflects the growing green bond market, projected to surpass $1 trillion by year-end 2021.
On March 4, 2021, WashREIT announced it will release its first quarter earnings results after market close on April 28, 2021. A conference call is scheduled for April 29, 2021, at 11:00 am ET to discuss these results. Investors can access the call via USA and international toll-free numbers, and an instant replay will be available until May 13, 2021. WashREIT owns 43 properties including 3.4 million square feet of commercial space and 7,059 multifamily units, with an enterprise value of approximately $3.0 billion.
Washington Real Estate Investment Trust (WRE) reported a net loss of $15.7 million for 2020, translating to $0.20 per diluted share, significantly impacted by COVID-19. NAREIT FFO was $119.4 million, or $1.44 per diluted share. Notably, same-store NOI declined 5.4%, driven by lower rental income and increased credit losses. However, cash collections showed resilience, with 99% collected across multifamily and commercial sectors in Q4 2020. The company anticipates a gradual recovery in 2021, with Core FFO projected between $0.29 and $0.32 per share.
WashREIT (NYSE:WRE) has disclosed the income tax treatment of its 2020 dividend distributions, detailing final income allocations. Each share's Ordinary Taxable Income is $0.10727, aligning with the Section 199A Dividend. Non-corporate shareholders can typically deduct 20% of ordinary taxable REIT dividends. The total gross distribution for 2020 amounts to $1.20 per share, with non-taxable return of capital at $0.77092 per share. Shareholders should consult tax advisors for specifics.
WashREIT (NYSE: WRE) has completed the sale of 1227 25th Street, NW and Monument II for a total of $106.5 million. Monument II, located in Herndon, VA, closed on December 2, 2020, while the sale of 1227 25th Street in Washington, DC, was finalized on December 17, 2020. These transactions are intended to strengthen WashREIT's balance sheet and align with its strategy of reducing office asset exposure, enhancing long-term shareholder value. The company's portfolio includes 43 properties and an enterprise value of approximately $3 billion.
WashREIT (NYSE:WRE), a prominent owner of multifamily and commercial properties in the Washington Metro area, is set to release its fourth quarter earnings results on February 11, 2021, after market close. A conference call to discuss these results will take place on February 12, 2021, at 11:00 am ET. Participants can access the call through the provided toll-free numbers. The live webcast will be available on WashREIT's official website. The company boasts an enterprise value of around $3.0 billion.
Washington Real Estate Investment Trust (WRE) reported a net loss of $1.0 million for Q3 2020, translating to $0.01 per diluted share. NAREIT FFO stood at $29.5 million, or $0.36 per share. Net Operating Income decreased to $44.6 million, with same-store NOI declining 4.9% year-over-year. Multifamily occupancy increased 30 basis points sequentially, while office occupancy dropped 20 basis points. The company executed a $350 million Green Bond to finance green projects and maintain liquidity of approximately $520 million. A quarterly dividend of $0.30 per share was declared for January 2021.
WashREIT (NYSE: WRE) has announced an agreement to issue $350 million in 3.44% senior unsecured 10-year notes. The notes, maturing on December 29, 2030, aim to finance sustainable projects and potentially refinance existing borrowings. The company emphasizes this move strengthens its balance sheet and demonstrates commitment to sustainability. The notes will not be registered under U.S. securities laws, limiting their sale absent an exemption. WashREIT's portfolio includes 45 properties, featuring 3.7 million square feet of commercial space and 6,861 multifamily units.
WashREIT (NYSE: WRE) reported robust cash rent collections, reflecting the strength of the Washington Metro area's economy. In July and August, the company collected approximately 99% of cash rent from its multifamily properties and 97% from office tenants. However, retail tenants lagged with 87% cash rent collection. The company has provided $1.6 million in rent relief to support tenants amid the ongoing COVID-19 pandemic. WashREIT's portfolio comprises 45 properties with an estimated enterprise value of $3 billion.
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