Back to top

Analyst Blog

Washington Real Estate Investment Trust (WRE - Snapshot Report), a real estate investment trust (REIT),  recently closed the divestiture of a Maryland-based office building – The Atrium Building – for $15.75 million to an undisclosed buyer. The transaction is in line with the company’s deliberate move toward shedding non-strategic assets in suburban submarkets of the U.S.

Constructed in 1980, The Atrium Building spans 80,000 square feet and is positioned at 6101 Executive Boulevard. The buyer of the property intends to relocate its headquarters to the Atrium Building.

Washington Real Estate acquired the Atrium Building in 2002. Over its 10-year holding period, the Washington Real Estate realized a net book gain of roughly $3.6 million and an unleveraged internal rate of return (IRR) of 11%.

In a bid to streamline its portfolio, Washington Real Estate has been disposing non-core properties and acquiring high quality properties in Washington, D.C.´s central business district as well as strategic locations in the region. In this respect, last month, Washington Real Estate chose Cassidy Turley to sell a medical office portfolio based in the Washington D.C. metro region. The portfolio consisted of 17 institutional-quality medical office properties spanning 1.3 million square feet.

Washington Real Estate invests in income-producing properties in the greater Washington metro region. Currently, it owns a diversified portfolio of 69 properties spanning around 9 million square feet of commercial space and 2,540 residential units and land held for developments.

Washington Real Estate currently retains a Zacks Rank #3 (Hold). REIT’s that are performing better and are worth a look include CubeSmart (CUBE - Snapshot Report), Chatham Lodging Trust (CLDT - Snapshot Report) and Brandywine Realty Trust (BDN - Snapshot Report). All the stocks carry a Zacks Rank #2 (Buy).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
RPC INC RES 24.91 +8.35%
LITHIA MOTO… LAD 94.59 +4.60%
DELTA AIR L… DAL 39.15 +3.90%
FLAMEL TECH… FLML 14.51 +3.50%
SOUTHWEST A… LUV 28.87 +2.92%