Washington REIT (WRE) Misses Q3 EPS by 2c

Washington REIT (NYSE: WRE) reported Q3 EPS of $0.07, $0.02 worse than the analyst estimate of $0.09.

• Reported Core FFO(1) of $0.45 per diluted share, compared to $0.46 per diluted share in third quarter 2017
• Grew Core FFO to $36.2 million in third quarter 2018 from $35.8 million in third quarter 2017
• Grew same-store(2) NOI by 3.4% and cash NOI(3) by 4.2% over third quarter 2017
• Grew same-store office NOI by 4.1% and cash NOI by 5.6% over third quarter 2017
• Grew same-store multifamily NOI and cash NOI by 3.4% over third quarter 2017
• Grew same-store retail NOI by 2.4% and cash NOI by 3.0% over third quarter 2017
• Increased same-store average occupancy by 40 basis points over third quarter 2017 and 70 basis points over second quarter 2018 to 93.8%
• Increased same-store ending occupancy by 70 basis points over third quarter 2017 and second quarter 2018 to 94.0%
• Prepaid secured debt of $31.7 million without penalty
• Issued 1,165,140 common shares through the Company’s At-the-Market (ATM) program at an average share price of $31.18 for gross proceeds of $36.3 million and continued to keep balance sheet metrics strong

For earnings history and earnings-related data on Washington REIT (WRE) click here.

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