Weingarten Realty Investors (NYSE:WRI) Stake Boosted by Pacer Advisors Inc.
Pacer Advisors Inc. increased its stake in Weingarten Realty Investors (NYSE:WRI) by 1,256.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,699 shares of the real estate investment trust’s stock after purchasing an additional 46,961 shares during the quarter. Pacer Advisors Inc.’s holdings in Weingarten Realty Investors were worth $1,390,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Weingarten Realty Investors by 2.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,651,123 shares of the real estate investment trust’s stock valued at $126,743,000 after acquiring an additional 125,127 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Weingarten Realty Investors by 1.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,998,739 shares of the real estate investment trust’s stock worth $54,806,000 after purchasing an additional 32,029 shares in the last quarter. Geode Capital Management LLC boosted its stake in Weingarten Realty Investors by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 1,613,004 shares of the real estate investment trust’s stock worth $40,018,000 after purchasing an additional 79,041 shares in the last quarter. Prudential Financial Inc. boosted its stake in Weingarten Realty Investors by 479.3% in the second quarter. Prudential Financial Inc. now owns 1,360,455 shares of the real estate investment trust’s stock worth $37,304,000 after purchasing an additional 1,125,624 shares in the last quarter. Finally, Barings LLC boosted its stake in Weingarten Realty Investors by 81.4% in the first quarter. Barings LLC now owns 1,041,640 shares of the real estate investment trust’s stock worth $30,593,000 after purchasing an additional 467,427 shares in the last quarter. 77.68% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have commented on WRI shares. Zacks Investment Research reissued a “hold” rating on shares of Weingarten Realty Investors in a research note on Sunday, September 8th. ValuEngine lowered Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. Finally, Compass Point began coverage on Weingarten Realty Investors in a research note on Thursday, August 15th. They set a “neutral” rating and a $27.50 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Weingarten Realty Investors has a consensus rating of “Hold” and a consensus target price of $28.17.
Weingarten Realty Investors (NYSE:WRI) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.12. Weingarten Realty Investors had a return on equity of 13.06% and a net margin of 46.97%. The firm had revenue of $119.46 million for the quarter, compared to analyst estimates of $119.62 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was down 13.9% on a year-over-year basis. Equities analysts forecast that Weingarten Realty Investors will post 2.09 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, September 6th will be given a $0.395 dividend. The ex-dividend date is Thursday, September 5th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 5.63%. Weingarten Realty Investors’s payout ratio is 69.30%.
In other 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 value of $117,727.61. Following the completion of the sale, the director now directly owns 28,218 shares of the company’s stock, valued at $766,683.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.40% of the company’s stock.
Weingarten Realty Investors 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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