Despite dips in occupancy and net operating income, Washington Real Estate Investment Trust reported soaring earnings for the first quarter.

The Rockville-based trust (NYSE: WRE) reported funds from operations (FFO) — the key metric for real estate investment trusts — of $34.2 million, or 65 cents per diluted share for the first quarter, compared to FFO of $17.8 million, or 38 cents per diluted share, for the same period one year ago.

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