Wall Street analysts expect Weingarten Realty Investors (NYSE:WRI) to report $128.90 million in sales 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 earnings results on Tuesday, October 23rd.
According to Zacks, analysts expect that Weingarten Realty Investors will report full year sales of $519.78 million for the current year, with estimates ranging from $505.93 million to $532.00 million. For the next financial year, analysts anticipate that the company will report sales of $528.97 million per share, with estimates ranging from $518.88 million to $537.73 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Weingarten Realty Investors.
Weingarten Realty Investors (NYSE:WRI) last released its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. Weingarten Realty Investors had a net margin of 83.46% and a return on equity of 24.90%. The company had revenue of $138.50 million for the quarter, compared to analyst estimates of $128.13 million. During the same period last year, the firm earned $0.61 earnings per share. The firm’s revenue was down 3.1% on a year-over-year basis.
Several analysts have commented on WRI shares. BTIG Research started coverage on shares of Weingarten Realty Investors in a research report on Wednesday, August 1st. They issued a “buy” rating and a $34.00 price objective on the stock. Zacks Investment Research raised shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. ValuEngine lowered shares of Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. TheStreet raised shares of Weingarten Realty Investors from a “c+” rating to a “b-” rating in a research report on Monday, June 25th. Finally, 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 report on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $31.75.
WRI stock traded down $0.30 during mid-day trading on Tuesday, hitting $30.02. The company had a trading volume of 235,706 shares, compared to its average volume of 464,551. The firm has a market cap of $3.88 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 3.67 and a beta of 0.53. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.23 and a current ratio of 1.23. Weingarten Realty Investors has a 12 month low of $25.67 and a 12 month high of $33.83.
The firm also recently announced 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. The ex-dividend date is Thursday, September 6th. This represents a $1.58 annualized dividend and a dividend yield of 5.26%. Weingarten Realty Investors’s payout ratio is 64.49%.
Several institutional investors and hedge funds have recently bought and sold shares of WRI. BlackRock Inc. lifted its holdings in shares of Weingarten Realty Investors by 0.3% in 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 last quarter. Centersquare Investment Management LLC bought a new stake in shares of Weingarten Realty Investors in the 1st quarter worth approximately $101,600,000. Bank of New York Mellon Corp lifted its holdings in shares of Weingarten Realty Investors by 27.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,827,494 shares of the real estate investment trust’s stock worth $87,116,000 after acquiring an additional 606,540 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Weingarten Realty Investors by 7.7% in the 1st quarter. Northern Trust Corp now owns 2,061,621 shares of the real estate investment trust’s stock worth $57,891,000 after acquiring an additional 146,585 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Weingarten Realty Investors by 1.4% in 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 last quarter. Hedge funds and other institutional investors own 77.30% of the company’s stock.
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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