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. “
Zacks Investment Research upgraded shares of Weingarten Realty Investors (NYSE:WRI) from a sell rating to a hold rating in a report released on Wednesday morning.
Several other brokerages also recently issued reports on WRI. ValuEngine downgraded Weingarten Realty Investors from a hold rating to a sell rating in a research report on Tuesday, December 25th. Capital One Financial raised Weingarten Realty Investors from an equal weight rating to an overweight rating in a report on Wednesday, December 19th. Citigroup set a $29.00 target price on Weingarten Realty Investors and gave the stock a hold rating in a report on Tuesday, November 20th. Jefferies Financial Group reissued a hold rating and set a $28.00 target price on shares of Weingarten Realty Investors in a report on Monday, December 17th. Finally, Bank of America cut Weingarten Realty Investors from a buy rating to a neutral rating in a report on Monday, March 4th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $30.60.
Shares of NYSE WRI opened at $27.93 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.54 and a quick ratio of 1.54. The company has a market cap of $3.54 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 2.84 and a beta of 0.74. Weingarten Realty Investors has a 12-month low of $23.80 and a 12-month high of $32.02.
Weingarten Realty Investors (NYSE:WRI) last issued its quarterly earnings data on Wednesday, February 20th. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.02). The business had revenue of $127.81 million for the quarter, compared to analyst estimates of $123.99 million. Weingarten Realty Investors had a return on equity of 17.27% and a net margin of 61.68%. The business’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, analysts predict that Weingarten Realty Investors will post 2.15 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 8th will be issued a dividend of $0.395 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.58 annualized dividend and a yield of 5.66%. Weingarten Realty Investors’s payout ratio is 69.30%.
A number of large investors have recently made changes to their positions in WRI. Norges Bank bought a new stake in Weingarten Realty Investors during the fourth quarter worth approximately $34,926,000. Federated Investors Inc. PA grew its holdings in shares of Weingarten Realty Investors by 1,592.9% in the third quarter. Federated Investors Inc. PA now owns 1,268,278 shares of the real estate investment trust’s stock worth $37,744,000 after purchasing an additional 1,193,359 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Weingarten Realty Investors by 2,381.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,167,459 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 1,120,403 shares during the last quarter. Weiss Multi Strategy Advisers LLC bought a new position in shares of Weingarten Realty Investors in the fourth quarter worth approximately $27,205,000. Finally, Barings LLC bought a new position in shares of Weingarten Realty Investors in the fourth quarter worth approximately $14,246,000. 77.91% of the stock is currently owned by hedge funds and other institutional investors.
Weingarten Realty Investors Company Profile
Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At December 31, 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 178 properties which are located in 17 states spanning the country from coast to coast.
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