Washington Reit: 1Q Earnings Snapshot

WASHINGTON (AP) _ Washington Real Estate Investment Trust (WRE) on Wednesday reported a key measure of profitability in its first quarter. The results matched Wall Street expectations.

The real estate investment trust, based in Washington, said it had funds from operations of $35.4 million, or 44 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 44 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 $4.4 million, or 6 cents per share.

The real estate investment trust posted revenue of $83.2 million in the period, topping Street forecasts. Six analysts surveyed by Zacks expected $82.2 million.

The company's shares have risen 24 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.45, a climb of roughly 2 percent in the last 12 months.

_____

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