Weingarten Realty Investors (WRI) Expected to Announce Quarterly Sales of $128.90 Million

Equities research analysts expect Weingarten Realty Investors (NYSE:WRI) to post sales of $128.90 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Weingarten Realty Investors’ earnings. The lowest sales estimate is $125.61 million and the highest is $131.00 million. Weingarten Realty Investors reported sales of $141.06 million during the same quarter last year, which indicates a negative year-over-year growth rate of 8.6%. The firm is expected to issue its next quarterly earnings results on Tuesday, October 23rd.

On average, analysts expect that Weingarten Realty Investors will report full year sales of $519.78 million for the current financial year, with estimates ranging from $505.93 million to $532.00 million. For the next year, analysts expect that the company will post sales of $528.97 million per share, with estimates ranging from $518.88 million to $537.73 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Weingarten Realty Investors.

Weingarten Realty Investors (NYSE:WRI) last posted its earnings results on Monday, July 30th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The business had revenue of $138.50 million for the quarter, compared to analysts’ expectations of $128.13 million. Weingarten Realty Investors had a net margin of 83.46% and a return on equity of 24.90%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS.

Several equities analysts have issued reports on WRI shares. UBS Group cut shares of Weingarten Realty Investors from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 17th. Boenning Scattergood reiterated a “hold” rating on shares of Weingarten Realty Investors in a research note on Thursday, April 26th. JPMorgan Chase & Co. lowered their price objective on shares of Weingarten Realty Investors from $31.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, April 26th. Zacks Investment Research upgraded shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Thursday, April 26th. Finally, ValuEngine cut shares of Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Weingarten Realty Investors presently has an average rating of “Hold” and an average price target of $31.75.

Several large investors have recently modified their holdings of the company. Federated Investors Inc. PA raised its stake in Weingarten Realty Investors by 111.4% during the 2nd quarter. Federated Investors Inc. PA now owns 74,919 shares of the real estate investment trust’s stock worth $2,308,000 after acquiring an additional 39,476 shares during the period. FMR LLC bought a new stake in Weingarten Realty Investors during the 2nd quarter worth approximately $16,730,000. Great West Life Assurance Co. Can raised its stake in Weingarten Realty Investors by 7.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 173,651 shares of the real estate investment trust’s stock worth $5,350,000 after acquiring an additional 11,873 shares during the period. Dimensional Fund Advisors LP raised its stake in Weingarten Realty Investors by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,900,188 shares of the real estate investment trust’s stock worth $58,546,000 after acquiring an additional 26,419 shares during the period. Finally, BlackRock Inc. raised its stake in Weingarten Realty Investors by 0.3% during the 2nd quarter. BlackRock Inc. now owns 14,746,099 shares of the real estate investment trust’s stock worth $454,329,000 after acquiring an additional 39,597 shares during the period. Hedge funds and other institutional investors own 77.30% of the company’s stock.

Weingarten Realty Investors traded down $0.30, hitting $30.02, during midday trading on Tuesday, according to Marketbeat.com. 235,706 shares of the company traded hands, compared to its average volume of 464,551. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.23 and a current ratio of 1.23. The stock has a market capitalization of $3.88 billion, a P/E ratio of 12.85, a P/E/G ratio of 3.67 and a beta of 0.53. Weingarten Realty Investors has a 52 week low of $25.67 and a 52 week high of $33.83.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, September 7th will be paid a $0.395 dividend. This represents a $1.58 annualized dividend and a dividend yield of 5.26%. The ex-dividend date is Thursday, September 6th. Weingarten Realty Investors’s dividend payout ratio (DPR) is presently 64.49%.

Weingarten Realty Investors Company Profile

Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At March 31, 2018, 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 196 properties which are located in 17 states spanning the country from coast to coast.

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Earnings History and Estimates for Weingarten Realty Investors (NYSE:WRI)

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