Why did Washington Real Estate Investment Trust (WRE) stock surge in the after-markets on Friday?

Washington Real Estate Investment Trust (WRE) shares rose 8.48% after hours on Friday, July 16, 2021, closing weekly trading at $ 26.74 per share. Earlier in the morning session, WRE stock lost 0.36%, closing Friday session at $ 24.65 per share. WRE stock is up 13.28% over the past 12 months and up 0.94% over the past week. Over the past three months, the stock is up 7.03%, while it is down 8.88% over the last six months.

Upcoming announcement of financial results

Washington Real Estate Investment Trust will publish its second quarter results on Thursday, July 29, 2021 after the market closes.

What is expected for Q2 2021?

The company announced a financial outlook for the second quarter of 2021 when it announced its financial results for the first quarter of 2021.

The company expects the second quarter of 2021

  • The net loss per diluted share is said to be in the range of $ 0.03 to $ 0.00 per share.
  • Real estate depreciation and amortization of $ 0.35
  • NAREIT FFO in the range of $ 0.32 to $ 0.35 per diluted share
  • Core FFO in the range of $ 0.32 to $ 0.35 per diluted share

Announcement of the financial results for the first quarter of 2021

On April 28, 2021, Washington Real Estate Investment Trust announced its financial results for the quarter ended March 31, 2021.

Financial highlights of the first quarter of 2021

  • The Washington Real Estate Investment Trust recorded revenue of $ 69.63 million in the first quarter of 2021, compared to $ 76.79 million in the first quarter of 2020.
  • Total cost of ownership was $ 61.94 million for the first quarter of 2021 compared to $ 64.7 million for the first quarter of 2020.
  • The company suffered a net loss of $ 1.1 million, or $ 0.02 per diluted share, for the first quarter of 2021, compared to a net loss of $ 1.71 million, or $ 0.02 per diluted share in the first quarter of 2020.

Dividend declaration

On April 5, 2021, WashREIT’s Board of Trustees announced a quarterly dividend of $ 0.30 per share, to be distributed to shareholders of record on June 23, 2021 on July 6, 2021.

$ 350 million expansion of green bonds

On April 21, 2021, WashREIT announced an expansion of its green bond framework for suitable green projects, including eight multi-family facilities acquired in 2019. As outlined in WashREIT’s Green Bond Framework, WashREIT intends to obtain BREEAM In-Use Very Good certifications for the majority of these assets.

Conclusion

There is currently no news or development regarding WRE that could be related to Friday’s performance. We hope that Monday will continue to go well.