Washington REIT downgraded to "hold" - update

06/11/07 - Stifel Nicolaus

NEW YORK, June 11 (newratings.com) - Analysts at Stifel Nicolaus & Company downgrade Washington REIT (WRE) from "buy" to "hold."

In a research note published this morning, the analysts mention that the downgrade in rating is part of a sector-wide downgrade in view of rising interest rates, investor interest in real estate outside the US and funds flow data indicating apathy towards US REITs. Washington REIT has good quality assets as well as the ability to achieve further operational improvements and to beat its FFO guidance, the analysts say.