Schaper Benz & Wise Investment Counsel Inc. WI Raises Position in Weingarten Realty Investors (WRI)

Schaper Benz & Wise Investment Counsel Inc. WI increased its stake in shares of Weingarten Realty Investors (NYSE:WRI) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 253,235 shares of the real estate investment trust’s stock after acquiring an additional 3,625 shares during the quarter. Schaper Benz & Wise Investment Counsel Inc. WI’s holdings in Weingarten Realty Investors were worth $7,536,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Arizona State Retirement System boosted its position in shares of Weingarten Realty Investors by 2.5% during the second quarter. Arizona State Retirement System now owns 82,743 shares of the real estate investment trust’s stock worth $2,549,000 after acquiring an additional 1,981 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Weingarten Realty Investors by 2.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 124,484 shares of the real estate investment trust’s stock valued at $3,835,000 after purchasing an additional 2,821 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in Weingarten Realty Investors by 23.2% during the second quarter. Xact Kapitalforvaltning AB now owns 18,597 shares of the real estate investment trust’s stock valued at $573,000 after purchasing an additional 3,500 shares in the last quarter. OppenheimerFunds Inc. raised its stake in Weingarten Realty Investors by 9.6% during the second quarter. OppenheimerFunds Inc. now owns 41,748 shares of the real estate investment trust’s stock valued at $1,286,000 after purchasing an additional 3,652 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in Weingarten Realty Investors during the second quarter valued at $129,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

In other news, CEO Andrew M. Alexander sold 126,730 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $30.71, for a total value of $3,891,878.30. Following the sale, the chief executive officer now owns 1,263,172 shares of the company’s stock, valued at $38,792,012.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stephen C. Richter sold 102,454 shares of the stock in a transaction on Friday, August 17th. The shares were sold at an average price of $30.83, for a total transaction of $3,158,656.82. Following the completion of the sale, the chief financial officer now directly owns 351,286 shares in the company, valued at approximately $10,830,147.38. The disclosure for this sale can be found here. Corporate insiders own 7.50% of the company’s stock.

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Weingarten Realty Investors from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 10th. ValuEngine raised shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st. BTIG Research assumed coverage on shares of Weingarten Realty Investors in a research note on Wednesday, August 1st. They set a “buy” rating and a $34.00 price target on the stock. Jefferies Financial Group set a $30.00 price target on shares of Weingarten Realty Investors and gave the company a “hold” rating in a research note on Wednesday, August 15th. Finally, Zacks Investment Research raised shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $31.14.

Shares of WRI traded up $0.29 during midday trading on Friday, hitting $27.95. The stock had a trading volume of 57,751 shares, compared to its average volume of 826,084. Weingarten Realty Investors has a 1 year low of $25.67 and a 1 year high of $33.83. The company has a market cap of $3.55 billion, a P/E ratio of 11.35, a P/E/G ratio of 2.90 and a beta of 0.47. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.95.

Weingarten Realty Investors (NYSE:WRI) last announced its earnings results on Monday, July 30th. The real estate investment trust reported $0.57 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. Weingarten Realty Investors had a net margin of 83.46% and a return on equity of 24.90%. The business had revenue of $138.50 million for the quarter, compared to the consensus estimate of $128.13 million. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. Analysts predict that Weingarten Realty Investors will post 2.31 earnings per share for the current fiscal year.

Weingarten Realty Investors Profile

Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At June 30, 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 190 properties which are located in 17 states spanning the country from coast to coast.

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Institutional Ownership by Quarter for Weingarten Realty Investors (NYSE:WRI)

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