SunTrust Banks Brokers Cut Earnings Estimates for Weingarten Realty Investors (WRI)

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Weingarten Realty Investors (NYSE:WRI) – Stock analysts at SunTrust Banks reduced their FY2018 earnings estimates for Weingarten Realty Investors in a research note issued on Wednesday, August 15th. SunTrust Banks analyst K. Kim now expects that the real estate investment trust will post earnings per share of $2.29 for the year, down from their previous estimate of $2.30. SunTrust Banks also issued estimates for Weingarten Realty Investors’ Q4 2018 earnings at $0.57 EPS, FY2019 earnings at $2.23 EPS, FY2020 earnings at $2.35 EPS, FY2021 earnings at $2.43 EPS and FY2022 earnings at $2.59 EPS.

Weingarten Realty Investors (NYSE:WRI) last issued its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.57. The firm had revenue of $138.50 million during 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%. Weingarten Realty Investors’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share.

WRI has been the subject of a number of other reports. Zacks Investment Research cut shares of Weingarten Realty Investors from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. JPMorgan Chase & Co. decreased their price objective on shares of Weingarten Realty Investors from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, April 26th. Wells Fargo & Co upped their price objective on shares of Weingarten Realty Investors from $27.00 to $30.00 and gave the stock a “market perform” rating in a report on Thursday, August 9th. TheStreet upgraded shares of Weingarten Realty Investors from a “c+” rating to a “b-” rating in a report on Monday, June 25th. Finally, ValuEngine cut shares of Weingarten Realty Investors from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. 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 stock. Weingarten Realty Investors currently has a consensus rating of “Hold” and an average price target of $31.88.

Shares of NYSE:WRI opened at $31.08 on Monday. The firm has a market capitalization of $3.84 billion, a P/E ratio of 12.69, a price-to-earnings-growth ratio of 3.63 and a beta of 0.53. Weingarten Realty Investors has a 1 year low of $25.67 and a 1 year high of $33.83. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.23 and a quick ratio of 1.23.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, September 7th will be issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, September 6th. Weingarten Realty Investors’s dividend payout ratio (DPR) is 64.49%.

A number of hedge funds have recently added to or reduced their stakes in WRI. Centersquare Investment Management LLC bought a new stake in Weingarten Realty Investors during the first quarter valued at about $101,600,000. American Century Companies Inc. boosted its holdings in Weingarten Realty Investors by 165.4% during the second quarter. American Century Companies Inc. now owns 1,302,336 shares of the real estate investment trust’s stock valued at $40,125,000 after acquiring an additional 811,604 shares during the period. Bank of New York Mellon Corp boosted its holdings in Weingarten Realty Investors by 27.3% during the second quarter. Bank of New York Mellon Corp now owns 2,827,494 shares of the real estate investment trust’s stock valued at $87,116,000 after acquiring an additional 606,540 shares during the period. FMR LLC bought a new stake in Weingarten Realty Investors during the second quarter valued at about $16,730,000. Finally, First Trust Advisors LP boosted its holdings in Weingarten Realty Investors by 207.4% during the second quarter. First Trust Advisors LP now owns 542,411 shares of the real estate investment trust’s stock valued at $16,712,000 after acquiring an additional 365,969 shares during the period. Institutional investors own 78.17% 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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Earnings History and Estimates for Weingarten Realty Investors (NYSE:WRI)

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