WRE Washington Real Estate Investment Trust

WashREIT owns and operates uniquely positioned real estate assets in the D.C. Metro region. Its portfolio of 43 properties includes approximately 3.4 million square feet of commercial space and 6,863 multifamily apartment units across the region. The company currently has an enterprise value of approximately $3.0 billion. With a track record of driving returns and delivering satisfaction, WashREIT is a trusted authority in one of the nation’s most competitive real estate markets.
Company profile
Ticker
WRE
Exchange
Website
CEO
Paul McDermott
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Corporate docs
IRS number
530261100
WRE stock data
()
Press releases
WashREIT Announces $350 Million of Green Bonds for Eligible Green Buildings that Achieve BREEAM Certification
21 Apr 21
WashREIT to Release First Quarter 2021 Results on Wednesday, April 28th
4 Mar 21
Washington Real Estate Investment Trust to Host Earnings Call
12 Feb 21
WashREIT Announces Fourth Quarter and Full Year 2020 Results
11 Feb 21
Calendar
16 Feb 21
22 Apr 21
31 Dec 21
Financial summary
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Dec 20 | Sep 20 | Jun 20 | Mar 20 | |
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Annual (USD) |
Dec 20 | Dec 19 | Dec 18 | Dec 17 | |
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Diluted EPS |
Financial data from company earnings reports.
Cash burn rate (estimated) | Burn method: Change in cash | Burn method: Operating income/loss | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 8.3M | 8.3M | 8.3M | 8.3M | 8.3M | 8.3M |
Cash burn (monthly) | (positive/no burn) | 537.33K | 394.33K | (positive/no burn) | (positive/no burn) | (positive/no burn) |
Cash used (since last report) | n/a | 2.01M | 1.48M | n/a | n/a | n/a |
Cash remaining | n/a | 6.29M | 6.83M | n/a | n/a | n/a |
Runway (months of cash) | n/a | 11.7 | 17.3 | n/a | n/a | n/a |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
31 Mar 21 | Butcher Benjamin S | Common Stock | Grant | Aquire A | No | No | 0 | 622.172 | 0 | 37,169.572 |
31 Mar 21 | Byrnes William G | Common Stock | Grant | Aquire A | No | No | 0 | 622.172 | 0 | 82,741.786 |
29 Mar 21 | Fielder Taryn D. | Common Stock | Payment of exercise | Dispose F | No | No | 22.78 | 147 | 3.35K | 50,715 |
10 Feb 21 | Paul T. McDermott | Common Stock | Payment of exercise | Dispose F | No | No | 23.45 | 7,880 | 184.79K | 389,324 |
10 Feb 21 | Paul T. McDermott | Common Stock | Grant | Aquire A | No | No | 0 | 31,596 | 0 | 397,204 |
10 Feb 21 | Paul T. McDermott | Common Stock | Grant | Aquire A | No | No | 0 | 38,787 | 0 | 365,608 |
10 Feb 21 | Wade Drew Hammond | Common Stock | Grant | Aquire A | No | No | 0 | 4,607 | 0 | 30,811 |
Institutional ownership Q4 2020
Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.
87.6% owned by funds/institutions
13F holders |
Current |
---|---|
Total holders | 202 |
Opened positions | 26 |
Closed positions | 19 |
Increased positions | 66 |
Reduced positions | 66 |
13F shares |
Current |
---|---|
Total value | 1.6B |
Total shares | 74.07M |
Total puts | 124.9K |
Total calls | 60.9K |
Total put/call ratio | 2.1 |
Largest owners |
Shares | Value |
---|---|---|
BLK Blackrock | 14.77M | $319.58M |
Vanguard | 12.5M | $270.33M |
FMR | 5.79M | $125.16M |
STT State Street | 4.17M | $91.42M |
Thornburg Investment Management | 3.05M | $66.01M |
Victory Capital Management | 2.88M | $62.23M |
Renaissance Technologies | 2.43M | $52.49M |
NTRS Northern Trust | 2.39M | $51.6M |
WFC Wells Fargo & Co. | 2.19M | $47.45M |
Schroder Investment Management | 1.86M | $40.32M |
Financial report summary
?Management Discussion
- The discussion that follows is based on our consolidated results of operations for the three years ended December 31, 2020. The ability to compare one period to another is significantly affected by acquisitions completed and dispositions made during those years (see note 3 to the consolidated financial statements).
- NOI, defined as real estate rental revenue less real estate expenses, is a non-GAAP measure. NOI is calculated as net income, less non-real estate revenue and the results of discontinued operations (including the gain on sale, if any), plus interest expense, depreciation and amortization, lease origination expenses, general and administrative expenses, real estate impairment and gain or loss on extinguishment of debt. We believe that NOI is useful as a performance measure because, when compared across periods, NOI reflects the impact on operations of trends in occupancy rates, rental rates and operating costs on an unleveraged basis, providing perspective not immediately apparent from net income. NOI excludes certain components from net income in order to provide results more closely related to a property’s results of operations. For example, interest expense is not necessarily linked to the operating performance of a real estate asset. In addition, depreciation and amortization, because of historical cost accounting and useful life estimates, may distort operating performance at the property level. As a result of the foregoing, we provide NOI as a supplement to net income, calculated in accordance with GAAP. NOI does not represent net income or income from continuing operations, in either case calculated in accordance with GAAP. As such, it should not be considered an alternative to these measures as an indication of our operating performance. A reconciliation of NOI to net income follows.
- Real estate rental revenue is comprised of (a) minimum base rent, which includes rental revenues recognized on a straight-line basis, (b) revenue from the recovery of operating expenses from our tenants, (c) credit losses on lease related receivables, (d) revenue recognized from lease termination fees and (e) parking and other tenant charges such as percentage rents.
Content analysis
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Readability |
H.S. junior Avg
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Financial reports
10-K
2020 FY
Annual report
16 Feb 21
10-Q
2020 Q3
Quarterly report
30 Oct 20
10-Q
2020 Q2
Quarterly report
29 Jul 20
10-Q
2020 Q1
Quarterly report
27 Apr 20
10-K/A
2019 FY
Annual report (amended)
5 Mar 20
10-K
2019 FY
Annual report
18 Feb 20
10-Q
2019 Q3
Quarterly report
28 Oct 19
10-Q
2019 Q2
Quarterly report
29 Jul 19
10-Q
2019 Q1
Quarterly report
29 Apr 19
10-K
2018 FY
Annual report
19 Feb 19
Current reports
8-K
Other Events
18 Feb 21
8-K
Results of Operations and Financial Condition
11 Feb 21
8-K
Results of Operations and Financial Condition
29 Oct 20
8-K
Entry into a Material Definitive Agreement
5 Oct 20
8-K
Results of Operations and Financial Condition
28 Jul 20
8-K
Submission of Matters to a Vote of Security Holders
1 Jun 20
8-K
Results of Operations and Financial Condition
22 Apr 20
8-K
Other Events
19 Feb 20
8-K
Results of Operations and Financial Condition
13 Feb 20
8-K
Results of Operations and Financial Condition
24 Oct 19
Registration and prospectus
424B3
Prospectus supplement
18 Feb 21
S-3ASR
Automatic shelf registration
17 Feb 21
424B5
Prospectus supplement for primary offering
17 Feb 21
S-3ASR
Automatic shelf registration
16 Feb 21
424B3
Prospectus supplement
4 May 18
424B5
Prospectus supplement for primary offering
4 May 18
S-3ASR
Automatic shelf registration
3 Apr 18
S-3ASR
Automatic shelf registration
7 Mar 18
S-8
Registration of securities for employees
16 May 16
424B5
Prospectus supplement for primary offering
28 Apr 16
Proxies
DEFA14A
Additional proxy soliciting materials
9 Apr 21
DEF 14A
Definitive proxy
9 Apr 21
DEFA14A
Additional proxy soliciting materials
12 Apr 20
DEFA14A
Additional proxy soliciting materials
9 Apr 20
DEF 14A
Definitive proxy
9 Apr 20
DEFA14A
Additional proxy soliciting materials
28 Mar 19
DEF 14A
Definitive proxy
28 Mar 19
DEF 14A
Definitive proxy
28 Mar 18
DEFA14A
Additional proxy soliciting materials
28 Mar 18
DEF 14A
Definitive proxy
9 Apr 17
Other
UPLOAD
Letter from SEC
5 Aug 15
CORRESP
Correspondence with SEC
4 Aug 15
UPLOAD
Letter from SEC
2 Aug 15
UPLOAD
Letter from SEC
18 Jul 13
CORRESP
Correspondence with SEC
15 Jul 13
UPLOAD
Letter from SEC
7 Jul 13
UPLOAD
Letter from SEC
14 Jun 12
CORRESP
Correspondence with SEC
12 Jun 12
UPLOAD
Letter from SEC
6 Jun 12
CORRESP
Correspondence with SEC
3 Jun 12
Ownership
4
WASHINGTON REAL ESTATE INVESTMENT TRUST / WILLIAM G BYRNES ownership change
2 Apr 21
4
WASHINGTON REAL ESTATE INVESTMENT TRUST / Benjamin S Butcher ownership change
2 Apr 21
4
WASHINGTON REAL ESTATE INVESTMENT TRUST / Taryn D. Fielder ownership change
29 Mar 21
4
WASHINGTON REAL ESTATE INVESTMENT TRUST / STEPHEN EDWARD RIFFEE ownership change
12 Feb 21
4
WASHINGTON REAL ESTATE INVESTMENT TRUST / Paul T. McDermott ownership change
12 Feb 21
4
WASHINGTON REAL ESTATE INVESTMENT TRUST / Wade Drew Hammond ownership change
12 Feb 21
4
WASHINGTON REAL ESTATE INVESTMENT TRUST / Taryn D. Fielder ownership change
12 Feb 21
SC 13G
WASHINGTON REAL ESTATE INVESTMENT TRUST / STATE STREET ownership change
11 Feb 21
SC 13G/A
WASHINGTON REAL ESTATE INVESTMENT TRUST / VANGUARD ownership change
10 Feb 21
SC 13G
WASHINGTON REAL ESTATE INVESTMENT TRUST / FMR ownership change
8 Feb 21
Transcripts
2020 Q4
Earnings call transcript
12 Feb 21
2020 Q3
Earnings call transcript
30 Oct 20
2020 Q2
Earnings call transcript
29 Jul 20
2020 Q1
Earnings call transcript
24 Apr 20
2019 Q4
Earnings call transcript
14 Feb 20
2019 Q3
Earnings call transcript
25 Oct 19
2019 Q2
Earnings call transcript
26 Jul 19
2019 Q1
Earnings call transcript
25 Apr 19
2018 Q4
Earnings call transcript
15 Feb 19
2018 Q3
Earnings call transcript
26 Oct 18
Reddit threads
Daily Discussion Thread - March 19th, 2021
19 Mar 21
Daily Discussion Thread - March 18th, 2021
18 Mar 21
Daily Discussion Thread - March 17th, 2021
17 Mar 21
Daily Discussion Thread - March 16th, 2021
16 Mar 21
Daily Discussion Thread - February 11th, 2021
11 Feb 21
Daily Discussion Thread - February 10th, 2021
10 Feb 21
Daily Discussion Thread - February 9th, 2021
9 Feb 21
Daily Discussion Thread - February 8th, 2021
8 Feb 21
About to hit $20k in annual dividends
22 Jan 21
Daily Discussion Thread - December 22nd, 2020
22 Dec 20