Oppenheimer Asset Management Inc. decreased its position in Weingarten Realty Investors (NYSE:WRI) by 59.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,093 shares of the real estate investment trust’s stock after selling 10,602 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Weingarten Realty Investors were worth $194,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. NEXT Financial Group Inc acquired a new position in Weingarten Realty Investors in the 2nd quarter valued at approximately $37,000. Advisory Services Network LLC raised its holdings in Weingarten Realty Investors by 32.9% in the 2nd quarter. Advisory Services Network LLC now owns 1,495 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 370 shares in the last quarter. Machina Capital S.A.S. acquired a new position in Weingarten Realty Investors in the 2nd quarter valued at approximately $161,000. Cigna Investments Inc. New acquired a new position in Weingarten Realty Investors in the 1st quarter valued at approximately $202,000. Finally, Nissay Asset Management Corp Japan ADV acquired a new position in Weingarten Realty Investors in the 1st quarter valued at approximately $235,000. 77.68% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Shelaghmichael C. Brown sold 4,333 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.17, for a total value of $117,727.61. Following the completion of the transaction, the director now directly owns 28,218 shares of the company’s stock, valued at approximately $766,683.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.40% of the company’s stock.
Several research firms have commented on WRI. Zacks Investment Research reaffirmed a “hold” rating on shares of Weingarten Realty Investors in a report on Sunday, September 8th. Compass Point began coverage on Weingarten Realty Investors in a report on Thursday, August 15th. They issued a “neutral” rating and a $27.50 price target for the company. Finally, ValuEngine cut Weingarten Realty Investors from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $28.17.
Shares of WRI traded down $0.03 during mid-day trading on Friday, reaching $28.14. The company had a trading volume of 67,150 shares, compared to its average volume of 927,388. Weingarten Realty Investors has a twelve month low of $23.80 and a twelve month high of $30.26. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.18 and a quick ratio of 2.18. The company’s 50-day moving average is $27.24 and its 200-day moving average is $28.17. The company has a market capitalization of $3.62 billion, a P/E ratio of 12.40, a P/E/G ratio of 2.69 and a beta of 0.65.
Weingarten Realty Investors (NYSE:WRI) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.12. Weingarten Realty Investors had a return on equity of 13.06% and a net margin of 46.97%. The business had revenue of $119.46 million during the quarter, compared to analysts’ expectations of $119.62 million. During the same period in the prior year, the firm posted $0.57 EPS. Weingarten Realty Investors’s quarterly revenue was down 13.9% compared to the same quarter last year. As a group, equities analysts expect that Weingarten Realty Investors will post 2.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, September 6th will be issued a $0.395 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 5.61%. Weingarten Realty Investors’s payout ratio is presently 69.30%.
Weingarten Realty Investors Profile
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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