Weingarten Realty Investors (WRI) Expected to Announce Earnings of $0.58 Per Share

Brokerages expect that Weingarten Realty Investors (NYSE:WRI) will post earnings per share (EPS) of $0.58 for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Weingarten Realty Investors’ earnings. The lowest EPS estimate is $0.55 and the highest is $0.60. Weingarten Realty Investors reported earnings per share of $0.61 in the same quarter last year, which indicates a negative year-over-year growth rate of 4.9%. The company is expected to issue its next earnings report on Wednesday, February 20th.

On average, analysts expect that Weingarten Realty Investors will report full-year earnings of $2.31 per share for the current fiscal year, with EPS estimates ranging from $2.29 to $2.39. For the next fiscal year, analysts forecast that the firm will report earnings of $2.30 per share, with EPS estimates ranging from $2.22 to $2.41. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Weingarten Realty Investors.

Weingarten Realty Investors (NYSE:WRI) last issued its earnings results on Wednesday, October 24th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Weingarten Realty Investors had a return on equity of 22.88% and a net margin of 80.35%. The business had revenue of $125.26 million during the quarter, compared to the consensus estimate of $126.36 million.

A number of brokerages have issued reports on WRI. Zacks Investment Research raised Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. BTIG Research began coverage on Weingarten Realty Investors in a research note on Wednesday, August 1st. They issued a “buy” rating and a $34.00 target price for the company. Jefferies Financial Group set a $30.00 target price on Weingarten Realty Investors and gave the stock a “hold” rating in a research note on Wednesday, August 15th. JPMorgan Chase & Co. raised their target price on Weingarten Realty Investors from $29.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Finally, Wells Fargo & Co raised their target price on Weingarten Realty Investors from $27.00 to $30.00 and gave the stock a “market perform” rating in a research note on Thursday, August 9th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $31.33.

In other news, CFO Stephen C. Richter sold 102,454 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $30.83, for a total transaction of $3,158,656.82. Following the completion of the transaction, the chief financial officer now directly owns 351,286 shares in the company, valued at approximately $10,830,147.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Andrew M. Alexander sold 126,730 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $30.71, for a total value of $3,891,878.30. Following the transaction, 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. Corporate insiders own 7.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. V3 Capital Management L.P. purchased a new position in shares of Weingarten Realty Investors during the 2nd quarter worth $3,438,000. Old Port Advisors purchased a new position in Weingarten Realty Investors during the 2nd quarter valued at about $2,273,000. Northern Trust Corp boosted its holdings in Weingarten Realty Investors by 4.1% during the 2nd quarter. Northern Trust Corp now owns 2,146,427 shares of the real estate investment trust’s stock valued at $66,131,000 after acquiring an additional 84,806 shares during the period. BNP Paribas Arbitrage SA boosted its holdings in Weingarten Realty Investors by 27.9% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 38,872 shares of the real estate investment trust’s stock valued at $1,198,000 after acquiring an additional 8,473 shares during the period. Finally, Hermes Investment Management Ltd. boosted its holdings in Weingarten Realty Investors by 1.5% during the 2nd quarter. Hermes Investment Management Ltd. now owns 1,194,890 shares of the real estate investment trust’s stock valued at $36,815,000 after acquiring an additional 17,836 shares during the period. Institutional investors and hedge funds own 77.39% of the company’s stock.

Shares of WRI opened at $28.77 on Tuesday. Weingarten Realty Investors has a 52-week low of $25.67 and a 52-week high of $33.83. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 2.70 and a beta of 0.46. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.27 and a quick ratio of 1.27.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, December 7th will be issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 5.49%. The ex-dividend date is Thursday, December 6th. Weingarten Realty Investors’s dividend payout ratio is presently 64.49%.

About Weingarten Realty Investors

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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Earnings History and Estimates for Weingarten Realty Investors (NYSE:WRI)

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