Washington REIT (WRE) Reports Q4 EPS of $0.66, Revenues Beat

Washington REIT (NYSE: WRE) reported Q4 EPS of $0.66, versus $0.00 reported last year. Revenue for the quarter came in at $80.67 million versus the consensus estimate of $78.28 million.

Fourth Quarter 2019 Financial Results

• Net income attributable to controlling interests was $54.2 million, or $0.66 per diluted share
• NAREIT FFO was $0.39 per diluted share
• Core FFO was $0.40 per diluted share

"2019 was a pivotal year for WashREIT on multiple fronts. We executed $1.3 billion of strategic transactions– a company record– to streamline and de-risk our portfolio and improve our ability to drive value creation," said Paul T. McDermott, President and CEO of WashREIT. "In addition to our transformative capital allocation, we exceeded our commercial leasing targets for 2019 and addressed the vast majority of our 2020 expirations. Looking ahead, we expect key lease commencements and multifamily value-creation to drive strong growth in the second half of 2020 and strong year-over-year growth in 2021."

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

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