Weingarten Realty Investors (NYSE:WRI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
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. “
Other analysts have also recently issued reports about the company. Citigroup set a $29.00 target price on Weingarten Realty Investors and gave the stock a “hold” rating in a research note on Tuesday, November 20th. Jefferies Financial Group reissued a “hold” rating and set a $28.00 target price on shares of Weingarten Realty Investors in a research note on Monday, December 17th. ValuEngine raised Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Thursday, December 6th. Bank of America cut Weingarten Realty Investors from a “buy” rating to a “neutral” rating in a research note on Monday, March 4th. Finally, Capital One Financial raised Weingarten Realty Investors from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, December 19th. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $30.60.
Shares of WRI stock opened at $27.99 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market capitalization of $3.54 billion, a PE ratio of 12.28, a P/E/G ratio of 2.84 and a beta of 0.74. Weingarten Realty Investors has a one year low of $23.80 and a one year high of $32.02.
Weingarten Realty Investors (NYSE:WRI) last announced its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). Weingarten Realty Investors had a net margin of 61.68% and a return on equity of 17.27%. The company had revenue of $127.81 million during the quarter, compared to the consensus estimate of $123.99 million. During the same period last year, the company earned $0.60 earnings per share. The business’s revenue was down 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that Weingarten Realty Investors will post 2.15 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of WRI. Bank of New York Mellon Corp boosted its position in Weingarten Realty Investors by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,838,402 shares of the real estate investment trust’s stock worth $84,470,000 after acquiring an additional 10,908 shares during the last quarter. Rhumbline Advisers boosted its position in Weingarten Realty Investors by 41.1% during the 4th quarter. Rhumbline Advisers now owns 330,628 shares of the real estate investment trust’s stock worth $8,203,000 after acquiring an additional 96,225 shares during the last quarter. Matthew Goff Investment Advisor LLC acquired a new position in Weingarten Realty Investors during the 3rd quarter worth approximately $4,000,000. Federated Investors Inc. PA boosted its position in Weingarten Realty Investors by 1,592.9% during the 3rd quarter. Federated Investors Inc. PA now owns 1,268,278 shares of the real estate investment trust’s stock worth $37,744,000 after acquiring an additional 1,193,359 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Weingarten Realty Investors by 1.3% during the 4th quarter. Arizona State Retirement System now owns 85,656 shares of the real estate investment trust’s stock worth $2,125,000 after acquiring an additional 1,082 shares during the last quarter. 77.91% of the stock is 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 December 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 178 properties which are located in 17 states spanning the country from coast to coast.
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