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. “
Several other research analysts also recently issued reports on WRI. 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 for the company. ValuEngine downgraded Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $28.17.
Weingarten Realty Investors (NYSE:WRI) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.12. The business had revenue of $119.46 million during the quarter, compared to the consensus estimate of $119.62 million. Weingarten Realty Investors had a return on equity of 13.06% and a net margin of 46.97%. The business’s revenue was down 13.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 EPS. As a group, equities analysts anticipate that Weingarten Realty Investors will post 2.09 earnings per share for the current year.
In other news, Director Shelaghmichael C. Brown sold 4,333 shares of Weingarten Realty Investors stock in a transaction 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 of the company’s stock, valued at approximately $766,683.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. NEXT Financial Group Inc acquired a new position in Weingarten Realty Investors in the 2nd quarter valued at about $37,000. Advisory Services Network LLC raised its stake in Weingarten Realty Investors by 32.9% in the 2nd quarter. Advisory Services Network LLC now owns 1,495 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 370 shares during the last quarter. Machina Capital S.A.S. acquired a new position in Weingarten Realty Investors in the 2nd quarter valued at about $161,000. Founders Capital Management raised its stake in Weingarten Realty Investors by 29.8% in the 3rd quarter. Founders Capital Management now owns 8,501 shares of the real estate investment trust’s stock valued at $248,000 after purchasing an additional 1,950 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new position in Weingarten Realty Investors in the 2nd quarter valued at about $280,000. 77.67% of the stock is owned by hedge funds and other institutional investors.
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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