Weingarten Realty Investors (NYSE:WRI) announced a quarterly dividend on Monday, September 14th, Wall Street Journal reports. Stockholders of record on Thursday, October 8th will be given a dividend of 0.18 per share by the real estate investment trust on Tuesday, October 13th. This represents a $0.72 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Wednesday, October 7th.

Weingarten Realty Investors has raised its dividend payment by 8.2% over the last three years and has raised its dividend every year for the last 1 years. Weingarten Realty Investors has a dividend payout ratio of 128.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Weingarten Realty Investors to earn $1.83 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 39.3%.

Shares of NYSE WRI opened at $18.55 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.94. Weingarten Realty Investors has a 52 week low of $12.21 and a 52 week high of $32.17. The firm has a 50-day moving average price of $17.91 and a 200 day moving average price of $18.16. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 4.40 and a beta of 1.25.

Weingarten Realty Investors (NYSE:WRI) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.31). Weingarten Realty Investors had a net margin of 54.62% and a return on equity of 13.20%. The company had revenue of $98.30 million during the quarter, compared to analyst estimates of $106.63 million. During the same quarter last year, the business earned $0.53 EPS. The firm’s revenue for the quarter was down 17.7% on a year-over-year basis. Equities research analysts expect that Weingarten Realty Investors will post 1.64 EPS for the current fiscal year.

Several research firms have weighed in on WRI. JPMorgan Chase & Co. raised their target price on shares of Weingarten Realty Investors from $16.00 to $19.00 and gave the company an “underweight” rating in a report on Monday, June 1st. SunTrust Banks raised their target price on shares of Weingarten Realty Investors from $20.00 to $21.00 and gave the company a “buy” rating in a report on Monday, June 15th. Citigroup raised their target price on shares of Weingarten Realty Investors from $14.50 to $19.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. BTIG Research lifted their price target on shares of Weingarten Realty Investors from $40.00 to $50.00 in a report on Thursday, June 25th. Finally, Zacks Investment Research upgraded shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Weingarten Realty Investors currently has an average rating of “Hold” and a consensus target price of $27.86.

About Weingarten Realty Investors

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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Dividend History for Weingarten Realty Investors (NYSE:WRI)

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