$126.27 Million in Sales Expected for Weingarten Realty Investors (WRI) This Quarter

Brokerages forecast that Weingarten Realty Investors (NYSE:WRI) will announce $126.27 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Weingarten Realty Investors’ earnings. The highest sales estimate is $129.92 million and the lowest is $120.68 million. Weingarten Realty Investors reported sales of $135.80 million during the same quarter last year, which indicates a negative year over year growth rate of 7%. The firm is expected to announce its next earnings report on Wednesday, February 20th.

According to Zacks, analysts expect that Weingarten Realty Investors will report full year sales of $521.43 million for the current financial year, with estimates ranging from $513.19 million to $533.25 million. For the next financial year, analysts forecast that the business will post sales of $505.19 million, with estimates ranging from $491.87 million to $518.88 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Weingarten Realty Investors.

Weingarten Realty Investors (NYSE:WRI) last announced its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.12. Weingarten Realty Investors had a return on equity of 22.88% and a net margin of 80.35%. The business had revenue of $125.26 million during the quarter, compared to the consensus estimate of $126.36 million.

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Weingarten Realty Investors from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Citigroup set a $29.00 target price on Weingarten Realty Investors and gave the stock a “hold” rating in a research note on Tuesday, November 20th. Jefferies Financial Group set a $30.00 target price on Weingarten Realty Investors and gave the stock a “hold” rating in a research note on Wednesday, August 15th. Wells Fargo & Co boosted their target price on Weingarten Realty Investors from $27.00 to $30.00 and gave the stock a “market perform” rating in a research note on Thursday, August 9th. Finally, Zacks Investment Research upgraded Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $31.17.

WRI stock traded down $0.30 during trading on Friday, hitting $28.47. 395,052 shares of the company’s stock were exchanged, compared to its average volume of 871,090. The stock has a market cap of $3.70 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 2.77 and a beta of 0.51. Weingarten Realty Investors has a 52-week low of $25.67 and a 52-week high of $33.83. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.93.

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. This represents a $1.58 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date of this dividend is Thursday, December 6th. Weingarten Realty Investors’s dividend payout ratio is currently 64.49%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cohen & Steers Inc. lifted its stake in Weingarten Realty Investors by 0.6% in the third quarter. Cohen & Steers Inc. now owns 15,434,746 shares of the real estate investment trust’s stock valued at $459,338,000 after buying an additional 96,351 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Weingarten Realty Investors by 0.3% in the second quarter. BlackRock Inc. now owns 14,746,099 shares of the real estate investment trust’s stock valued at $454,329,000 after purchasing an additional 39,597 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Weingarten Realty Investors by 0.4% in the third quarter. Bank of New York Mellon Corp now owns 2,838,402 shares of the real estate investment trust’s stock valued at $84,470,000 after purchasing an additional 10,908 shares during the period. Northern Trust Corp increased its holdings in shares of Weingarten Realty Investors by 4.1% in the second quarter. Northern Trust Corp now owns 2,146,427 shares of the real estate investment trust’s stock valued at $66,131,000 after purchasing an additional 84,806 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Weingarten Realty Investors by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,906,051 shares of the real estate investment trust’s stock valued at $56,721,000 after purchasing an additional 5,863 shares during the period. Institutional investors own 76.52% of the company’s stock.

About Weingarten Realty Investors

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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