Analysts Anticipate Weingarten Realty Investors (WRI) Will Post Quarterly Sales of $126.36 Million

Wall Street analysts predict that Weingarten Realty Investors (NYSE:WRI) will announce $126.36 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Weingarten Realty Investors’ earnings, with the lowest sales estimate coming in at $125.30 million and the highest estimate coming in at $127.72 million. Weingarten Realty Investors posted sales of $141.06 million during the same quarter last year, which suggests a negative year-over-year growth rate of 10.4%. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, October 24th.

According to Zacks, analysts expect that Weingarten Realty Investors will report full-year sales of $520.51 million for the current financial year, with estimates ranging from $517.20 million to $523.36 million. For the next financial year, analysts forecast that the company will post sales of $512.56 million per share, with estimates ranging from $501.50 million to $529.32 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Weingarten Realty Investors.

Weingarten Realty Investors (NYSE:WRI) last announced its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. The business had revenue of $138.50 million for 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%. The business’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share.

A number of brokerages have weighed in on WRI. TheStreet upgraded shares of Weingarten Realty Investors from a “c+” rating to a “b-” rating in a report on Monday, June 25th. ValuEngine upgraded shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a 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 note on Thursday, August 2nd. Jefferies Financial Group set a $30.00 target price on shares of Weingarten Realty Investors and gave the stock a “hold” rating in a research note on Wednesday, August 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Weingarten Realty Investors from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.14.

WRI traded down $0.67 during midday trading on Monday, reaching $29.50. The company’s stock had a trading volume of 759,650 shares, compared to its average volume of 692,294. The stock has a market cap of $3.85 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 3.14 and a beta of 0.47. 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 1 year low of $25.67 and a 1 year high of $33.83.

The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, September 7th were paid a $0.395 dividend. The ex-dividend date was Thursday, September 6th. This represents a $1.58 annualized dividend and a dividend yield of 5.36%. Weingarten Realty Investors’s dividend payout ratio is presently 64.49%.

In related news, CFO Stephen C. Richter sold 102,454 shares of the 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 transaction, the chief financial officer now owns 351,286 shares in the company, valued at $10,830,147.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew M. Alexander sold 126,730 shares of the 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 transaction, the chief executive officer now owns 1,263,172 shares in the company, valued at approximately $38,792,012.12. The disclosure for this sale can be found here. Corporate insiders own 7.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC lifted its position in Weingarten Realty Investors by 8.1% during the first quarter. Hsbc Holdings PLC now owns 26,148 shares of the real estate investment trust’s stock valued at $734,000 after purchasing an additional 1,960 shares during the period. Arizona State Retirement System lifted its position in Weingarten Realty Investors by 2.5% during the second quarter. Arizona State Retirement System now owns 82,743 shares of the real estate investment trust’s stock valued at $2,549,000 after purchasing an additional 1,981 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Weingarten Realty Investors by 3.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,758 shares of the real estate investment trust’s stock valued at $1,762,000 after purchasing an additional 2,160 shares during the period. Daiwa Securities Group Inc. lifted its position in Weingarten Realty Investors by 17.8% during 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 purchasing an additional 2,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in Weingarten Realty Investors by 2.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 124,484 shares of the real estate investment trust’s stock valued at $3,835,000 after purchasing an additional 2,821 shares during the period. Institutional investors own 77.40% of the company’s stock.

Weingarten Realty Investors Company Profile

Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At June 30, 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 190 properties which are located in 17 states spanning the country from coast to coast.

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