Real Estate News

WashREIT Announces Third Quarter 2021 Results and Updates Progress on Transformation

WASHINGTON, Oct. 28, 2021 (GLOBE NEWSWIRE) -- Washington Real Estate Investment Trust (“WashREIT” or the “Company”) (NYSE: WRE), a multifamily REIT with properties in the Washington metro region and the Southeast, reported financial and operating results today for the quarter ended September 30, 2021:

Third Quarter Results

Net income was $31.3 million, or $0.37 per diluted shareNAREIT FFO was $3.1 million, or $0.04 per diluted shareCore FFO was $17.0 million, or $0.20 per diluted shareNet Operating Income (NOI) was $27.1 million

Multifamily Highlights

New lease rates improved significantly throughout the third quarter and post quarter-end.

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