Washington Real Estate InvestmentNYSE
Thu, Oct. 27, 5:25 PM
Thu, Oct. 27, 4:34 PM
Thu, Oct. 27, 10:42 AM
- The 10-year Treasury yield is making new bear-cycle highs today, up another seven basis points to 1.86% - its perkiest level since May. The move up in yields is global, with U.K. 10-years up 11 bps and Germany's up 8.5 bps.
- Earlier today, the U.K. reported Q3 GDP growth of 0.5% - far better than what had been predicted post-Brexit.
- Facing at least a little more competition in the yield department, equity REITs have turned sharply lower, with VNQ down 2.1%, and IYR off 1.8%. Mortgage REITs (REM -0.6%) are faring a little better as solid Q3 earnings begin to roll in.
- The major U.S. averages have given up early gains and turned red, led by the S&P 500 and Nasdaq, both off 0.25%.
- Individual equity REITs: Verreit (VER -2.2%), Welltower (HCN -2.4%), Equity Residential (EQR -1.6%), Omega Healthcare (OHI -3.2%), Simon Property (SPG -3.2%), General Growth (GGP -2.6%), Public Storage (PSA -2.9%), Gramercy Property (GPT -1.9%), Washington Real Estate (WRE -1.2%), Hersha (HT -2.9%), Sunstone Hotel (SHO -1.4%), Stag Industrial (STAG -2%)
- Mortgage REITs: AGNC Investment (AGNC -1.5%), Annaly (NLY -0.7%), Two Harbors (TWO -0.4%), Capstead (CMO +0.3%)
- ETFs: VNQ, IYR, MORL, REM, MORT, DRN, RQI, URE, SCHH, ICF, RWR, SRS, RNP, RFI, JRS, KBWY, NRO, DRV, RIT, RIF, REK, DRA, FRI, FTY, FREL, LRET, PSR, WREI, XLRE, IARAX, RORE
Wed, Oct. 26, 5:35 PM
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Thu, Oct. 13, 4:22 PM
- The shared workspace provider completed a $690M funding round begun earlier this year, with investors including Shanghai Jin Jiang International Hotels putting up $260M at a $16.9B valuation, writes Maureen Farrell in the WSJ.
- The latest money will be used to fund WeWork's (Private:VWORK) international expansion - the company opened a Shanghai office in July, and has moved into South Korea and Hong Kong, with plans to open elsewhere in Asia.
- With 98 co-working spaces in 32 cities, WeWork puts the market caps of most office landlords to shame despite controlling only a fraction of their square footage.
- Boston Properties (NYSE:BXP), SL Green (NYSE:SLG), Equity Commonwealth (NYSE:EQC), Washington Real Estate (NYSE:WRE), First Potomac (NYSE:FPO), Highwood Properties (NYSE:HIW), Piedmont Office (NYSE:PDM), Paramount Group (NYSE:PGRE), and Brandywine Realty (NYSE:BDN) look on in wonder.
Thu, Sep. 22, 4:20 PM
- This deal comprised about 491K square feet of Maryland office space for proceeds of $128.5M.
- The deal was structured as a reverse-1031 in conjunction with the purchase of a Northern Virginia apartment complex.
- The sale completes WRE's exit from its suburban Maryland office portfolio, and reallocation of capital to value-add, urban in-fill multifamily.
Wed, Aug. 17, 7:29 AM
- Prologis (NYSE:PLD), Cousins Properties (NYSE:CUZ), Parkway Properties (NYSE:PKY), and Washington REIT (NYSE:WRE) are all downgraded to Neutral from Outperform.
- The group is up between 10% and 25% for the year, and between 27% and 45% from the February lows, so they're sporting fancier valuations with the chance of rate hike(s) looming.
Wed, Jul. 27, 5:47 PM
Wed, Jul. 27, 4:55 PM
Tue, Jul. 26, 5:35 PM
- ABCO, ABX, ACGL, AEM, AF, AGNC, AHL, ALEX, ALSN, AMCC, AMGN, ANIK, ARRS, ASGN, AXTI, BKCC, CA, CAKE, CBI, CBT, CDE, CMO, CMPR, CMRE, CNMD, COHR, CRUS, CSGP, CVTI, CW, CYS, DLB, DRE, ECHO, EFX, ELY, EQY, ESRT, ESV, EXR, FB, FBHS, FOE, FORR, GG, GPRO, GRPN, HOLX, HT, IAC, IBKC, INFN, INT, ISBC, KEX, KGC, KIM, KNL, KNX, KONA, KRA, KS, LLNW, LM, LOGI, LPSN, LRCX, MAA, MANT, MAR, MCK, MEOH, MKSI, MMLP, MMSI, MN, MOH, MUR, NATI, NE, NEU, NGD, NOW, NTGR, NTRI, NVDQ, NXPI, O, OCN, OI, ORLY, OTEX, PEIX, PPC, PSA, PXD, QDEL, QEP, QTM, RCII, ROIC, RRTS, SCI, SFLY, SIGI, SPRT, SPSC, SSNC, SU, TER, TILE, TIS, TMK, TMST, TTEK, TTMI, TYL, UNM, VAR, VNDA, VNR, VRTX, WFM, WFT, WIRE, WLL, WRE, WSR, XL, XLNX
Mon, Jun. 27, 4:31 PM
- The sale totaled properties with 692K square feet for total proceeds of $111.5M. The companies remaining MD office assets are under contract to be sold, with the deals expected to close late in Q3.
- The sales are part of the company plan to get out of low-barrier suburban office properties, and into value-add, urban in-fill, multifamily with higher growth potential, lower leasing capital requirements, and greater cash-flow stability.
- WRE remains near its 2016 high, down 0.4% today to $29.87.
Thu, Apr. 28, 4:18 PM
- The company is selling 4M shares, with an underwriter greenshoe for up to another 600K.
- WRE is actually edging higher in light after hours action.
Thu, Apr. 28, 5:57 AM
- Washington Real Estate (NYSE:WRE) declares $0.30/share quarterly dividend, in line with previous.
- Forward yield 4.09%
- Payable June 30; for shareholders of record June 15; ex-div June 13.
Wed, Apr. 27, 4:43 PM
- Washington Real Estate (NYSE:WRE): Q1 FFO of $0.42 beats by $0.01.
- Revenue of $77.14M (+3.0% Y/Y) misses by $1.08M.
Tue, Apr. 26, 5:35 PM
- ACGL, AEL, AF, ALGT, AMKR, AMP, ANIK, AR, ASGN, AVB, AVG, BCR, BGC, BKCC, BLKB, CACI, CAKE, CAVM, CBL, CDE, CGI, CLI, CMO, CMPR, CNMD, CNO, CRY, CSGP, CVTI, DGI, DLB, DMRC, DRE, DTLK, DWRE, DXCM, ECHO, EFX, ELY, EQY, ESRT, ESV, EXTR, FB, FIX, FNF, FORM, FORR, FR, FSLR, GG, HOLX, HTCH, HY, IBKC, INFN, IPHS, KEX, KIM, KRA, KRC, KS, LLNW, LOCK, LOGI, LQ, MANT, MAR, MC, MEOH, MMLP, MN, MSTR, MTGE, NE, NEU, NGD, NTGR, NVDQ, OIS, ORLY, OTEX, PEB, PPC, PRXL, PYPL, QDEL, QEP, QGEN, RCII, RGLD, RNG, ROIC, SCI, SFLY, SGI, SIMO, SNDK, SPRT, SSS, STR, TAL, TER, TILE, TS, TTEK, TTMI, TXN, TYL, UHS, UNM, VAR, VRTX, WCN, WIRE, WLL, WRE, WSR, XL, XLNX
Thu, Apr. 14, 9:20 AM
- Recession fears have resulted in a big drop in leasing volume - down 17.8% in Q1 to just 50M square feet, the lowest level since mid-2009.
- As for rents, high-demand submarkets saw rent gains of 3.2%, well above the U.S. average.
- The current development pipeline is at its highest level of the cycle at 96.8M square feet, with more spec developments set to break ground this year in spots like San Francisco, Seattle, Dallas, and D.C.
- While 46.8M square feet of deliveries will push completions above the long-term average, they are still well below 2008's peak.
- Looking at the sales market, it's slowed, with transaction volumes up just 1% in Q1 following five straight years at a far faster rate of growth.
- Interested parties: GOV, EQC, BXP, WRE, FPO, HIW, PDM, CIO, PSB, SIR, PKY, PGRE, BDN, SLG