Weingarten Realty Investors (NYSE:WRI) – Analysts at SunTrust Banks lowered their Q3 2019 earnings per share estimates for Weingarten Realty Investors in a research report issued to clients and investors on Thursday, August 22nd, according to Zacks Investment Research. SunTrust Banks analyst K. Kim now expects that the real estate investment trust will earn $0.53 per share for the quarter, down from their prior estimate of $0.54. SunTrust Banks also issued estimates for Weingarten Realty Investors’ Q4 2019 earnings at $0.52 EPS, FY2019 earnings at $2.09 EPS, FY2020 earnings at $2.08 EPS, FY2021 earnings at $2.20 EPS, FY2022 earnings at $2.34 EPS and FY2023 earnings at $2.45 EPS.
Other analysts have also issued research reports about the stock. Compass Point assumed coverage on shares of Weingarten Realty Investors in a research report on Thursday, August 15th. They set a “neutral” rating and a $27.50 price target on the stock. Zacks Investment Research upgraded shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a report on Saturday, September 14th. Finally, ValuEngine downgraded shares of Weingarten Realty Investors from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $28.17.
WRI traded up $0.22 during trading on Monday, reaching $28.58. The company’s stock had a trading volume of 801,425 shares, compared to its average volume of 892,481. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.70 and a beta of 0.65. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 1.00. The firm has a fifty day simple moving average of $27.30 and a two-hundred day simple moving average of $28.14. Weingarten Realty Investors has a 1 year low of $23.80 and a 1 year high of $30.05.
Weingarten Realty Investors (NYSE:WRI) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, beating the Zacks’ 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 analysts’ expectations of $119.62 million. During the same period last year, the firm earned $0.57 EPS. The company’s quarterly revenue was down 13.9% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, September 6th were issued a $0.395 dividend. The ex-dividend date was Thursday, September 5th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 5.53%. Weingarten Realty Investors’s payout ratio is 69.30%.
In related news, Director Shelaghmichael C. Brown sold 4,333 shares of the stock in a transaction dated Monday, August 19th. The shares were 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 directly owns 28,218 shares of the company’s stock, valued at $766,683.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 6.40% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Global Investments purchased a new position in Weingarten Realty Investors during the first quarter worth approximately $1,544,000. State of Alaska Department of Revenue raised its stake in shares of Weingarten Realty Investors by 15.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 60,267 shares of the real estate investment trust’s stock valued at $1,651,000 after acquiring an additional 7,949 shares during the period. Geode Capital Management LLC raised its stake in shares of Weingarten Realty Investors by 5.2% in the 4th quarter. Geode Capital Management LLC now owns 1,613,004 shares of the real estate investment trust’s stock valued at $40,018,000 after acquiring an additional 79,041 shares during the period. Eii Capital Management Inc. raised its stake in shares of Weingarten Realty Investors by 18.0% in the 2nd quarter. Eii Capital Management Inc. now owns 17,836 shares of the real estate investment trust’s stock valued at $489,000 after acquiring an additional 2,715 shares during the period. Finally, Chicago Equity Partners LLC raised its stake in shares of Weingarten Realty Investors by 476.5% in the 2nd quarter. Chicago Equity Partners LLC now owns 159,840 shares of the real estate investment trust’s stock valued at $4,383,000 after acquiring an additional 132,115 shares during the period. 77.68% of the stock is currently owned by institutional investors and hedge funds.
Weingarten Realty Investors Company 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.