Washington REIT Q1 FFO Down - Quick Facts

(RTTNews) - Washington Real Estate Investment Trust (WRE) Thursday said first-quarter funds from operations, or FFO, decreased to $21.0 million or $0.31 per share from $29.7 million or $0.44 per share in the same period last year.

Adjusted FFO for the quarter were $24.1 million or $0.36 per share. On average, six analysts polled by Thomson Reuters expected the company to report FFO of $0.39 per share for the quarter. Analysts' estimates typically exclude special items.

Net income for the quarter surged to $104.6 million or $1.56 per share from $7.3 million or $0.11 per share last year.

Real estate rental revenues totaled $68.61 million, up from $64.56 million last year. Analysts expected revenues of $67.67 million.