Zacks Investment Research Reaffirms “Hold” Rating for Weingarten Realty Investors (NYSE:WRI)
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 equities analysts have also recently issued reports on the stock. Compass Point assumed coverage on shares of Weingarten Realty Investors in a research note on Thursday, August 15th. They issued a neutral rating and a $27.50 price objective for the company. ValuEngine lowered shares of Weingarten Realty Investors from a hold rating to a sell rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $28.17.
Weingarten Realty Investors (NYSE:WRI) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.12. The business had revenue of $119.46 million for the quarter, compared to analysts’ expectations of $119.62 million. Weingarten Realty Investors had a return on equity of 13.06% and a net margin of 46.97%. Weingarten Realty Investors’s quarterly revenue was down 13.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 earnings per share. Sell-side analysts predict that Weingarten Realty Investors will post 2.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, September 6th will be paid a $0.395 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.58 annualized dividend and a dividend yield of 5.62%. Weingarten Realty Investors’s dividend payout ratio is currently 69.30%.
In related news, Director Shelaghmichael C. Brown sold 4,333 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.17, for a total transaction of $117,727.61. Following the completion of the transaction, the director now owns 28,218 shares in the company, valued at approximately $766,683.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. NEXT Financial Group Inc bought a new stake in shares of Weingarten Realty Investors in the 2nd quarter worth about $37,000. Advisory Services Network LLC boosted its position in Weingarten Realty Investors by 32.9% in the second quarter. Advisory Services Network LLC now owns 1,495 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 370 shares in the last quarter. Machina Capital S.A.S. bought a new stake in Weingarten Realty Investors during the second quarter worth about $161,000. Cigna Investments Inc. New bought a new stake in Weingarten Realty Investors during the first quarter worth about $202,000. Finally, Nissay Asset Management Corp Japan ADV bought a new stake in Weingarten Realty Investors during the first quarter worth about $235,000. 77.68% 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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