Jefferies Group Reiterates “Hold” Rating for Weingarten Realty Investors (WRI)
Weingarten Realty Investors (NYSE:WRI)‘s stock had its “hold” rating restated by research analysts at Jefferies Group in a report issued on Wednesday.
Several other brokerages have also commented on WRI. Zacks Investment Research upgraded Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Citigroup Inc. upped their price target on Weingarten Realty Investors from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, August 12th. Finally, Boenning Scattergood upgraded Weingarten Realty Investors from an “underperform” rating to a “neutral” rating in a research note on Tuesday, October 18th.
Shares of Weingarten Realty Investors (NYSE:WRI) opened at 34.89 on Wednesday. The company’s 50-day moving average price is $37.23 and its 200 day moving average price is $39.23. The stock has a market cap of $4.47 billion, a PE ratio of 18.20 and a beta of 0.84. Weingarten Realty Investors has a 1-year low of $31.89 and a 1-year high of $43.70.
Weingarten Realty Investors (NYSE:WRI) last released its earnings results on Thursday, October 27th. The real estate investment trust reported $0.58 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. Weingarten Realty Investors had a return on equity of 14.82% and a net margin of 45.71%. The firm had revenue of $129.70 million for the quarter, compared to the consensus estimate of $134.50 million. During the same period in the prior year, the business posted $0.56 earnings per share. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts forecast that Weingarten Realty Investors will post $2.30 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 8th will be paid a $0.365 dividend. The ex-dividend date of this dividend is Tuesday, December 6th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 4.18%. Weingarten Realty Investors’s dividend payout ratio (DPR) is currently 76.44%.
In other news, Director Stephen A. Lasher sold 33,313 shares of the stock in a transaction dated Monday, August 29th. The stock was sold at an average price of C$41.81, for a total value of C$1,392,816.53. Following the completion of the sale, the director now owns 244,596 shares in the company, valued at C$10,226,558.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew M. Alexander sold 5,731 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of C$41.59, for a total value of C$238,352.29. The disclosure for this sale can be found here. 8.80% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. CT Financial Advisors LLC raised its stake in Weingarten Realty Investors by 0.3% in the second quarter. CT Financial Advisors LLC now owns 4,064 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 14 shares during the period. BNP Paribas Arbitrage SA raised its stake in Weingarten Realty Investors by 151.7% in the second quarter. BNP Paribas Arbitrage SA now owns 64,576 shares of the real estate investment trust’s stock worth $2,636,000 after buying an additional 38,918 shares during the period. Avalon Advisors LLC raised its stake in Weingarten Realty Investors by 2.0% in the first quarter. Avalon Advisors LLC now owns 308,105 shares of the real estate investment trust’s stock worth $11,560,000 after buying an additional 5,962 shares during the period. Squarepoint Ops LLC raised its stake in Weingarten Realty Investors by 107.3% in the first quarter. Squarepoint Ops LLC now owns 21,876 shares of the real estate investment trust’s stock worth $821,000 after buying an additional 11,324 shares during the period. Finally, Arizona State Retirement System raised its stake in Weingarten Realty Investors by 5.7% in the first quarter. Arizona State Retirement System now owns 62,620 shares of the real estate investment trust’s stock worth $2,350,000 after buying an additional 3,400 shares during the period. Institutional investors and hedge funds own 80.66% of the company’s stock.
About Weingarten Realty Investors
Weingarten Realty Investors is a real estate investment trust (REIT). The Company’s primary business is leasing space to tenants in the shopping centers it owns or leases. It is engaged in the business of owning, managing and developing retail shopping centers. Its properties consist primarily of neighborhood and community shopping centers.
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