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. “
A number of other brokerages have also recently weighed in on WRI. ValuEngine cut shares of Weingarten Realty Investors from a hold rating to a sell rating in a report on Thursday, June 27th. Compass Point assumed coverage on shares of Weingarten Realty Investors in a report on Thursday, August 15th. They set a neutral rating and a $27.50 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $28.17.
Shares of NYSE:WRI opened at $29.57 on Friday. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 2.81 and a beta of 0.65. Weingarten Realty Investors has a 1-year low of $23.80 and a 1-year high of $30.05. The company’s fifty day moving average is $28.51 and its two-hundred day moving average is $28.26. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.18 and a current ratio of 2.18.
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 for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.12. The company had revenue of $119.46 million for the quarter, compared to analysts’ expectations of $119.62 million. Weingarten Realty Investors had a net margin of 46.97% and a return on equity of 13.06%. The firm’s revenue was down 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 earnings per share. Sell-side analysts expect that Weingarten Realty Investors will post 2.09 EPS for the current fiscal year.
In related news, Director Shelaghmichael C. Brown sold 4,333 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.17, for a total value of $117,727.61. Following the sale, the director now owns 28,218 shares of the company’s stock, valued at approximately $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 owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its holdings in shares of Weingarten Realty Investors by 2.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,651,123 shares of the real estate investment trust’s stock worth $126,743,000 after acquiring an additional 125,127 shares during the period. Invesco Ltd. grew its position in Weingarten Realty Investors by 1.5% in the 2nd quarter. Invesco Ltd. now owns 4,305,224 shares of the real estate investment trust’s stock valued at $118,049,000 after buying an additional 63,233 shares in the last quarter. Northern Trust Corp grew its position in Weingarten Realty Investors by 0.5% in the 2nd quarter. Northern Trust Corp now owns 2,358,011 shares of the real estate investment trust’s stock valued at $64,657,000 after buying an additional 11,419 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Weingarten Realty Investors by 1.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,998,739 shares of the real estate investment trust’s stock valued at $54,806,000 after buying an additional 32,029 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Weingarten Realty Investors by 479.3% in the 2nd quarter. Prudential Financial Inc. now owns 1,360,455 shares of the real estate investment trust’s stock valued at $37,304,000 after buying an additional 1,125,624 shares in the last quarter. 77.66% of the stock is currently owned by institutional investors and hedge funds.
Weingarten Realty Investors Company 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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