Robert W. Baird Reaffirms Buy Rating for Weingarten Realty Investors (WRI)
Robert W. Baird restated their buy rating on shares of Weingarten Realty Investors (NYSE:WRI) in a research note published on Thursday. They currently have a $37.00 target price on the real estate investment trust’s stock.
WRI has been the subject of several other reports. BidaskClub raised Weingarten Realty Investors from a sell rating to a hold rating in a report on Thursday, June 29th. Zacks Investment Research cut Weingarten Realty Investors from a hold rating to a sell rating in a report on Wednesday, June 28th. Boenning Scattergood lowered Weingarten Realty Investors from a neutral rating to an underperform rating in a research report on Monday, May 15th. TheStreet upgraded Weingarten Realty Investors from a c+ rating to a b- rating in a research report on Tuesday, August 8th. Finally, Jefferies Group LLC set a $37.00 target price on Weingarten Realty Investors and gave the stock a hold rating in a research report on Friday, May 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $35.40.
Shares of Weingarten Realty Investors (NYSE:WRI) opened at 32.77 on Thursday. The company’s 50-day moving average is $31.89 and its 200-day moving average is $32.51. The stock has a market cap of $4.21 billion, a P/E ratio of 22.04 and a beta of 0.72. Weingarten Realty Investors has a 12-month low of $29.03 and a 12-month high of $42.12.
Weingarten Realty Investors (NYSE:WRI) last announced its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The firm had revenue of $142.96 million during the quarter, compared to analysts’ expectations of $142.34 million. Weingarten Realty Investors had a return on equity of 11.03% and a net margin of 33.57%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. On average, analysts expect that Weingarten Realty Investors will post $0.98 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors 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 annualized dividend and a dividend yield of 4.70%. Weingarten Realty Investors’s dividend payout ratio is presently 104.76%.
Several institutional investors have recently modified their holdings of the stock. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of Weingarten Realty Investors during the first quarter valued at about $103,000. Founders Capital Management purchased a new stake in Weingarten Realty Investors during the first quarter valued at approximately $140,000. Commonwealth Bank of Australia boosted its stake in 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 during the last quarter. Advisor Group Inc. boosted its stake in 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 during the last quarter. Finally, Flinton Capital Management LLC boosted its stake in 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 during the last quarter. Institutional investors and hedge funds own 79.15% 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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