Summary: Washington Real Estate Investment Trust Jun 11
Standard & Poors, June 2011
Abstract
Our ratings on Washington Real Estate Investment Trust (WRIT) reflect the diversified real estate investment trust's (REIT's) satisfactory business risk profile and intermediate financial risk profile. We believe WRIT's Washington D.C. metro-focused commercial real estate portfolio will continue to generate relatively steady cash flows over the next two years. The company's leverage is moderate and debt coverage measures are strong. However, we believe the company's liquidity is currently less than adequate. Rockville, Md.-based WRIT is a diversified equity REIT with a $2.6 billion portfolio of 26 office properties (43.5% of first quarter 2011 net operating income {NOI}), 18 medical office properties (14%), 16 industrial/flex properties (11%), and 15 retail centers (16.5%). The company also owns 11 multifamily properties (15%) containing...
Companies mentioned in this report are: Washington Real Estate Investment Trust
Action: Review
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Washington Real Estate Investment Trust
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