Brokerages Set Weingarten Realty Investors (WRI) Price Target at $34.00
Weingarten Realty Investors (NYSE:WRI) has received an average recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $34.75.
Several equities research analysts have issued reports on WRI shares. Boenning Scattergood lowered shares of Weingarten Realty Investors from a “neutral” rating to an “underperform” rating in a report on Monday, May 15th. Robert W. Baird raised shares of Weingarten Realty Investors from a “neutral” rating to an “outperform” rating in a report on Tuesday, May 16th. Jefferies Group LLC set a $37.00 price target on shares of Weingarten Realty Investors and gave the company a “hold” rating in a report on Friday, May 26th. ValuEngine lowered shares of Weingarten Realty Investors from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th.
Shares of Weingarten Realty Investors (NYSE:WRI) traded up 2.25% during midday trading on Wednesday, hitting $32.77. 1,098,676 shares of the stock were exchanged. The firm has a 50-day moving average price of $31.89 and a 200-day moving average price of $32.51. Weingarten Realty Investors has a 12-month low of $29.03 and a 12-month high of $42.12. The company has a market cap of $4.21 billion, a PE ratio of 22.04 and a beta of 0.72.
Weingarten Realty Investors (NYSE:WRI) last announced its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The firm had revenue of $142.96 million for the quarter, compared to analyst estimates of $142.34 million. Weingarten Realty Investors had a net margin of 33.57% and a return on equity of 11.03%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 EPS. On average, equities analysts predict that Weingarten Realty Investors will post $0.98 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 8th will be paid a $0.385 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.54 annualized dividend and a dividend yield of 4.70%. Weingarten Realty Investors’s dividend payout ratio is presently 104.76%.
Several large investors have recently modified their holdings of WRI. Franklin Parlapiano Turner & Welch LLC purchased a new stake in shares of Weingarten Realty Investors during the first quarter valued at approximately $103,000. Founders Capital Management purchased a new stake in shares of Weingarten Realty Investors during the first quarter valued at approximately $140,000. Commonwealth Bank of Australia increased its stake in shares of Weingarten Realty Investors by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 4,684 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 176 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Weingarten Realty Investors by 13.9% in the second quarter. Advisor Group Inc. now owns 4,916 shares of the real estate investment trust’s stock valued at $147,000 after buying an additional 599 shares in the last quarter. Finally, Flinton Capital Management LLC increased its stake in shares of Weingarten Realty Investors by 80.8% in the second quarter. Flinton Capital Management LLC now owns 5,584 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 2,496 shares in the last quarter. Institutional investors own 79.15% of the company’s stock.
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Weingarten Realty Investors Company Profile
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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