Weingarten Realty Investors (WRI) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Weingarten Realty Investors (NYSE:WRI) announced its earnings results on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01, Bloomberg Earnings reports. Weingarten Realty Investors had a return on equity of 11.03% and a net margin of 33.57%. The firm had revenue of $142.96 million during the quarter, compared to the consensus estimate of $142.34 million. During the same quarter in the prior year, the company earned $0.57 EPS. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year.
Shares of Weingarten Realty Investors (WRI) opened at 33.08 on Tuesday. Weingarten Realty Investors has a 12 month low of $29.03 and a 12 month high of $42.79. The firm has a 50 day moving average price of $30.82 and a 200-day moving average price of $32.88. The company has a market cap of $4.25 billion, a P/E ratio of 22.23 and a beta of 0.72.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given a $0.385 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.54 dividend on an annualized basis and a dividend yield of 4.66%. Weingarten Realty Investors’s dividend payout ratio is currently 104.76%.
Several analysts recently weighed in on the company. TheStreet downgraded Weingarten Realty Investors from a “b” rating to a “c+” rating in a research note on Monday, April 24th. Boenning Scattergood set a $30.00 target price on Weingarten Realty Investors and gave the company a “sell” rating in a research note on Monday, July 31st. BidaskClub downgraded Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Zacks Investment Research downgraded Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Finally, Jefferies Group LLC set a $37.00 target price on Weingarten Realty Investors and gave the company a “hold” rating in a research note on Friday, May 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Weingarten Realty Investors currently has a consensus rating of “Hold” and an average price target of $37.60.
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Large investors have recently modified their holdings of the stock. Franklin Parlapiano Turner & Welch LLC bought a new stake in shares of Weingarten Realty Investors during the first quarter valued at about $103,000. CT Financial Advisors LLC boosted its stake in shares of Weingarten Realty Investors by 0.4% in the first quarter. CT Financial Advisors LLC now owns 4,111 shares of the real estate investment trust’s stock valued at $137,000 after buying an additional 18 shares during the period. Pinnacle Bank bought a new stake in shares of Weingarten Realty Investors during the first quarter valued at about $138,000. Founders Capital Management bought a new stake in shares of Weingarten Realty Investors during the first quarter valued at about $140,000. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Weingarten Realty Investors during the first quarter valued at about $203,000. Institutional investors and hedge funds own 79.95% 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. The Company also provides property management services. The Company is in the business of owning, managing and developing retail shopping centers.
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