1、DOWNASDAQREIT INDUSTRYS&P 500W R I TVALUE36 consecutive years ofincreased earnings per shareGROWTH31 consecutive yearsof increased dividends per sharePERFORMANCE29 consecutiveyears of increased funds fromoperations per shareWASHINGTON REAL ESTATE INVESTMENT TRUST ANNUAL REPORT2001DOWNASDAQREIT INDUS
2、TRYS&P 500W R I TWRIT$1,788,701S&P 500$346,244REIT INDUSTRY$400,388NASDAQ$195,040D0W$119,459The graph on the front cover reflects the total return(dividends plusprice appreciation with all dividendsreinvested)of WRIT,the S&P 500,the Morgan Stanley REIT Index,theNASDAQ and the DOW for the periodbegin
3、ning December 31,1971,andending December 31,2001.COMPARE WRITS PERFORMANCE WITH OTHER INDUSTRY LEADERS$10,000 invested in WRIT since1971,with dividends reinvested,would be worth$1,789,000 as of December 31,2001.COMPARATIVE RETURNS OVER 30-YEAR PERIODWASHINGTON REAL ESTATEINVESTMENT TRUST 6110 Execut
4、ive BoulevardRockville,Maryland 20852-3927301-984-9400800-565-9748Fax:301-984-COMPOUND ANNUAL RATES OF RETURN:WRIT 18.2%S&P 500 12.1%REIT INDUSTRY 12.6%NASDAQ 10.1%D0W 8.3%20012000199919981997F O R T H E Y E A RReal Estate Revenue$148$135$119$104$79Income before Gainon Sale of Real Estate4842363430N
5、et Income5245444130Funds from Operations7464565041Cash Dividends Paid5044414036Average Shares Outstanding3936363633P E R F U L LY D I L U T E D C O M M O N S H A R EIncome before Gain on Real Estate$1.27$1.16$1.02$.96$.90Net Income1.381.261.241.15.90Funds from Operations1.961.791.571.391.23Cash Divi
6、dends Paid1.311.231.161.111.07AT Y E A R E N DTotal Assets$708$632$608$559$469Total Debt360351330283203Shareholders Equity324259257254252MISSION STATEMENTWashington Real Estate Investment Trust,founded in 1960 and headquartered in Rockville,Maryland,invests in a diversified range of income-producing