Comerica Bank Sells 3,229 Shares of Weingarten Realty Investors (WRI)

Share on StockTwits

Comerica Bank lessened its stake in shares of Weingarten Realty Investors (NYSE:WRI) by 3.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,203 shares of the real estate investment trust’s stock after selling 3,229 shares during the quarter. Comerica Bank’s holdings in Weingarten Realty Investors were worth $2,722,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wells Fargo & Company MN boosted its position in Weingarten Realty Investors by 8.6% during the first quarter. Wells Fargo & Company MN now owns 149,804 shares of the real estate investment trust’s stock worth $4,206,000 after purchasing an additional 11,871 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Weingarten Realty Investors by 17.8% in the first quarter. Daiwa Securities Group Inc. now owns 15,200 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 2,300 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Weingarten Realty Investors by 4.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 121,663 shares of the real estate investment trust’s stock valued at $3,416,000 after acquiring an additional 5,363 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in shares of Weingarten Realty Investors by 11.4% in the first quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 239,597 shares of the real estate investment trust’s stock valued at $6,728,000 after acquiring an additional 24,531 shares during the period. Finally, Callahan Advisors LLC boosted its position in shares of Weingarten Realty Investors by 54.7% in the first quarter. Callahan Advisors LLC now owns 86,853 shares of the real estate investment trust’s stock valued at $2,439,000 after acquiring an additional 30,703 shares during the period. Institutional investors own 78.28% of the company’s stock.

In other Weingarten Realty Investors news, CFO Stephen C. Richter sold 102,454 shares of Weingarten Realty Investors stock in a transaction that occurred 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 $10,830,147.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew M. Alexander sold 126,730 shares of Weingarten Realty Investors stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $30.71, for a total transaction 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 disclosure for this sale can be found here. Insiders own 7.50% of the company’s stock.

A number of research firms have recently commented on WRI. TheStreet upgraded shares of Weingarten Realty Investors from a “c+” rating to a “b-” rating in a research report on Monday, June 25th. ValuEngine upgraded shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research report on Thursday, June 21st. Zacks Investment Research upgraded shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Jefferies Financial Group set a $30.00 price objective on shares of Weingarten Realty Investors and gave the company a “hold” rating in a research report on Wednesday, August 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Weingarten Realty Investors from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Friday, August 10th. One 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’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $31.88.

Shares of Weingarten Realty Investors stock opened at $31.33 on Wednesday. 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 $3.98 billion, a price-to-earnings ratio of 12.79, a P/E/G ratio of 3.25 and a beta of 0.53. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.23 and a quick ratio of 1.23.

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 (EPS) for the quarter, meeting the 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 during the quarter, compared to analyst estimates of $128.13 million. During the same period in the previous year, the business posted $0.61 earnings per share. Weingarten Realty Investors’s revenue for the quarter was down 3.1% on a year-over-year basis. equities research analysts predict that Weingarten Realty Investors will post 2.31 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, September 7th will be given a dividend of $0.395 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.58 annualized dividend and a yield of 5.04%. Weingarten Realty Investors’s payout ratio is presently 64.49%.

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.

Read More: Leveraged Buyout (LBO) Explained

Want to see what other hedge funds are holding WRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weingarten Realty Investors (NYSE:WRI).

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

Receive News & Ratings for Weingarten Realty Investors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weingarten Realty Investors and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply