$ELME

WASHINGTON REAL ESTATE INVESTMENT TRUST

CIK:0000104894|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (GOING CONCERN BASIS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2025
Revenue
Real estate rental revenue	$ 62,099	$ 123,592
Revenue, type [Extensible Enumeration]	Real Estate [Member]	Real Estate [Member]
Expenses
Property operating and maintenance	$ 14,624	$ 28,799
Real estate taxes and insurance	8,038	15,857
Property management	2,256	4,502
General and administrative	7,689	16,918
Depreciation and amortization	23,560	46,799
Total expenses	56,167	112,875
Real estate operating income	5,932	10,717
Other expense
Interest expense	(9,498)	(18,958)
Total other income (expense)	(9,498)	(18,958)
Net loss	$ (3,566)	$ (8,241)
Basic net loss per common share (in dollars per share)	$ (0.04)	$ (0.10)
Diluted net loss per common share (in dollars per share)	$ (0.04)	$ (0.10)
Weighted average shares outstanding - basic (in shares)	88,093	88,078
Weighted average shares outstanding - diluted (in shares)	88,093	88,078

CONSOLIDATED STATEMENT OF CASH FLOWS (GOING CONCERN BASIS) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2025 USD ($)	Jun. 30, 2025 USD ($)
Cash flows from operating activities
Net loss	$ (3,566)	$ (8,241)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization		46,799
Credit losses on lease related receivables		2,022
Share-based compensation expense		3,113
Net amortization of debt premiums, discounts and related financing costs		2,143
Changes in operating other assets		(13)
Changes in operating other liabilities		200
Net cash provided by operating activities		46,023
Cash flows from investing activities
Capital improvements to real estate		(14,391)
Non-real estate capital improvements		(60)
Net cash used in investing activities		(14,451)
Cash flows from financing activities
Line of credit borrowings, net		(1,000)
Dividends paid		(31,841)
Payment of financing costs		(26)
Distributions to noncontrolling interests		(4)
Payment of tax withholdings for restricted share awards		(217)
Net cash used in financing activities		(33,088)
Net decrease in cash, cash equivalents and restricted cash		(1,516)
Cash, cash equivalents and restricted cash at beginning of period		8,609
Cash, cash equivalents and restricted cash at end of period	7,093	7,093
Supplemental disclosure of cash flow information:
Cash paid for interest, net of amounts capitalized		16,286
Change in accrued capital improvements and development costs		1,155
Dividend payable	15,947	15,947
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	4,786	4,786
Restricted cash	2,307	2,307
Cash, cash equivalents and restricted cash	$ 7,093	$ 7,093