WRE - This REIT Had a Terrible Quarter: Here's Why It's Still a Buy
WashREIT (NYSE: WRE) reported awful third-quarter results. The diversified real estate investment trust ( REIT ) focused on the Washington, D.C., metro area reported a big decline in its funds from operations ( FFO ). That was due to a combination of asset sales and weaker results at its existing assets.
However, while the third quarter was rough, the future looks much brighter. That's because it's undergoing a major transformation to a multifamily REIT focused on fast-growing markets across the Southeast.
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This REIT Had a Terrible Quarter: Here's Why It's Still a Buy