According to Zacks, “Weingarten Realty Investors is focused on delivering solid returns to shareholders by actively developing, acquiring, and intensively managing properties in twenty one states that span the southern portion of the United States from coast to coast. Weingarten’s business activities encompass the long-term ownership, management, acquisition, development and redevelopment of strategically located neighborhood and community shopping centers and select industrial properties. The vast majority of our shopping centers are anchored by either a supermarket or a national value-oriented retailer. These anchors combined with convenient locations, attractive and well-maintained properties and a strong tenant mix help to ensure the long-term success of our merchants and the viability of our portfolio. The Company’s portfolio of Thirf caproperties includes thirty neighborhood and community shopping centers and sixty four industrial properties, aggregating fourty million square feet. “
Separately, Compass Point initiated coverage on Weingarten Realty Investors in a report on Thursday, August 15th. They issued a neutral rating and a $27.50 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Weingarten Realty Investors presently has a consensus rating of Hold and a consensus target price of $28.17.
Weingarten Realty Investors (NYSE:WRI) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.30. Weingarten Realty Investors had a return on equity of 16.75% and a net margin of 60.55%. The company had revenue of $117.38 million for the quarter, compared to the consensus estimate of $117.85 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. Weingarten Realty Investors’s revenue was down 6.5% on a year-over-year basis. On average, research analysts anticipate that Weingarten Realty Investors will post 2.08 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 6th will be issued a $0.395 dividend. This represents a $1.58 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date is Thursday, December 5th. Weingarten Realty Investors’s dividend payout ratio is 69.30%.
In other Weingarten Realty Investors news, Director Shelaghmichael C. Brown sold 4,333 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.17, for a total value of $117,727.61. Following the transaction, the director now owns 28,218 shares of the company’s stock, valued at $766,683.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its stake in shares of Weingarten Realty Investors by 14.6% in the second quarter. Parametric Portfolio Associates LLC now owns 278,013 shares of the real estate investment trust’s stock worth $7,623,000 after buying an additional 35,420 shares during the period. 6 Meridian grew its position in shares of Weingarten Realty Investors by 8.6% during the third quarter. 6 Meridian now owns 19,462 shares of the real estate investment trust’s stock worth $567,000 after purchasing an additional 1,534 shares in the last quarter. New York State Teachers Retirement System grew its position in shares of Weingarten Realty Investors by 5.1% during the third quarter. New York State Teachers Retirement System now owns 240,566 shares of the real estate investment trust’s stock worth $7,008,000 after purchasing an additional 11,700 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Weingarten Realty Investors during the second quarter worth about $606,000. Finally, Summit Global Investments grew its position in shares of Weingarten Realty Investors by 24.5% during the second quarter. Summit Global Investments now owns 65,449 shares of the real estate investment trust’s stock worth $1,795,000 after purchasing an additional 12,869 shares in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.
About Weingarten Realty Investors
Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At March 31, 2019, 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 177 properties which are located in 17 states spanning the country from coast to coast.
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