Weingarten Realty Investors (WRI) Sees Strong Trading Volume

Weingarten Realty Investors (NYSE:WRI) shares saw unusually-high trading volume on Friday . Approximately 3,606,391 shares were traded during mid-day trading, an increase of 375% from the previous session’s volume of 759,201 shares.The stock last traded at $28.86 and had previously closed at $28.39.

Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. Scotiabank assumed coverage on shares of Weingarten Realty Investors in a research note on Tuesday, October 16th. They issued a “sector perform” rating on the stock. Wells Fargo & Co boosted their price objective on shares of Weingarten Realty Investors from $27.00 to $30.00 and gave the company a “market perform” rating in a research note on Thursday, August 9th. Citigroup set a $29.00 price objective on shares of Weingarten Realty Investors and gave the company a “hold” rating in a research note on Tuesday, November 20th. Finally, Jefferies Financial Group set a $30.00 price objective on shares of Weingarten Realty Investors and gave the company a “hold” rating in a research note on Wednesday, August 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.17.

The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.93. The company has a market cap of $3.64 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 2.73 and a beta of 0.46.

Weingarten Realty Investors (NYSE:WRI) last announced its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.12. The company had revenue of $125.26 million for the quarter, compared to analysts’ expectations of $126.36 million. Weingarten Realty Investors had a net margin of 80.35% and a return on equity of 22.88%. On average, research analysts anticipate that Weingarten Realty Investors will post 2.31 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, December 7th will be paid a $0.395 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.58 annualized dividend and a yield of 5.47%. Weingarten Realty Investors’s dividend payout ratio is currently 64.49%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cohen & Steers Inc. grew its stake in shares of Weingarten Realty Investors by 0.6% during the 3rd quarter. Cohen & Steers Inc. now owns 15,434,746 shares of the real estate investment trust’s stock worth $459,338,000 after purchasing an additional 96,351 shares during the period. BlackRock Inc. grew its stake in shares of Weingarten Realty Investors by 0.3% during the 2nd quarter. BlackRock Inc. now owns 14,746,099 shares of the real estate investment trust’s stock worth $454,329,000 after purchasing an additional 39,597 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Weingarten Realty Investors by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,838,402 shares of the real estate investment trust’s stock worth $84,470,000 after purchasing an additional 10,908 shares during the period. Northern Trust Corp grew its stake in shares of Weingarten Realty Investors by 4.1% during the 2nd quarter. Northern Trust Corp now owns 2,146,427 shares of the real estate investment trust’s stock worth $66,131,000 after purchasing an additional 84,806 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Weingarten Realty Investors by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,906,051 shares of the real estate investment trust’s stock worth $56,721,000 after purchasing an additional 5,863 shares during the period. 77.03% of the stock is currently owned by institutional investors.

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About Weingarten Realty Investors (NYSE:WRI)

Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At September 30, 2018, the Company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 185 properties which are located in 17 states spanning the country from coast to coast.

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