Daiwa Securities Group Inc. raised its stake in shares of Weingarten Realty Investors (NYSE:WRI) by 20.4% during the second quarter, Holdings Channel reports. The fund owned 26,000 shares of the real estate investment trust’s stock after buying an additional 4,400 shares during the period. Daiwa Securities Group Inc.’s holdings in Weingarten Realty Investors were worth $783,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of WRI. Adell Harriman & Carpenter Inc. raised its stake in shares of Weingarten Realty Investors by 7.5% in the first quarter. Adell Harriman & Carpenter Inc. now owns 9,114 shares of the real estate investment trust’s stock valued at $304,000 after buying an additional 638 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in shares of Weingarten Realty Investors by 17.5% in the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 163,331 shares of the real estate investment trust’s stock valued at $5,454,000 after buying an additional 24,350 shares during the last quarter. Honeywell International Inc. acquired a new stake in shares of Weingarten Realty Investors during the first quarter valued at approximately $1,803,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Weingarten Realty Investors by 0.5% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,125 shares of the real estate investment trust’s stock valued at $605,000 after buying an additional 97 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its stake in shares of Weingarten Realty Investors by 6.7% in the first quarter. Tocqueville Asset Management L.P. now owns 6,400 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 400 shares during the last quarter. 79.95% of the stock is currently owned by institutional investors.
Shares of Weingarten Realty Investors (NYSE:WRI) opened at 32.45 on Friday. The firm has a 50-day moving average price of $31.30 and a 200 day moving average price of $32.75. Weingarten Realty Investors has a one year low of $29.03 and a one year high of $42.12. The firm has a market capitalization of $4.17 billion, a price-to-earnings ratio of 21.82 and a beta of 0.72.
Weingarten Realty Investors (NYSE:WRI) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Weingarten Realty Investors had a return on equity of 11.03% and a net margin of 33.57%. The firm had revenue of $142.96 million for the quarter, compared to analyst estimates of $142.34 million. During the same quarter in the prior year, the company earned $0.57 EPS. Weingarten Realty Investors’s revenue was up 7.6% on a year-over-year basis. Equities analysts forecast that Weingarten Realty Investors will post $0.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be paid a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Thursday, September 7th. Weingarten Realty Investors’s payout ratio is currently 104.76%.
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Several brokerages have commented on WRI. Robert W. Baird began coverage on Weingarten Realty Investors in a report on Thursday, April 20th. They issued an “outperform” rating and a $41.00 price objective on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $37.00 price objective on shares of Weingarten Realty Investors in a report on Monday, April 24th. TheStreet lowered Weingarten Realty Investors from a “b” rating to a “c+” rating in a report on Monday, April 24th. J P Morgan Chase & Co reissued a “neutral” rating and issued a $35.00 price objective (down from $37.00) on shares of Weingarten Realty Investors in a report on Wednesday. Finally, Boenning Scattergood set a $30.00 price objective on Weingarten Realty Investors and gave the company a “sell” rating in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $37.17.
About Weingarten Realty Investors
Weingarten Realty Investors is a real estate investment trust (REIT). The Company’s primary business is leasing space to tenants in the shopping centers it owns or leases. The Company also provides property management services. The Company is in the business of owning, managing and developing retail shopping centers.
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