Washington Reit: 4Q Earnings Snapshot

·1 min read

WASHINGTON (AP) _ Washington Real Estate Investment Trust (WRE) on Thursday reported a key measure of profitability in its fourth quarter. The results did not meet Wall Street expectations.

The real estate investment trust, based in Washington, said it had funds from operations of $27.5 million, or 33 cents per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 34 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $11 million, or 13 cents per share.

The real estate investment trust posted revenue of $71.2 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $71.5 million.

For the year, the company reported funds from operations of $120 million, or $1.45 per share. Revenue was reported as $294.1 million.

For the current quarter ending in April, Washington Reit expects its per-share funds from operations to range from 29 cents to 32 cents.

The company's shares have risen nearly 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.53, a decline of 25% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WRE at https://www.zacks.com/ap/WRE