Robert W. Baird Reaffirms Buy Rating for Weingarten Realty Investors (WRI)
Weingarten Realty Investors (NYSE:WRI)‘s stock had its “buy” rating reaffirmed by equities researchers at Robert W. Baird in a report released on Thursday. They currently have a $37.00 target price on the real estate investment trust’s stock. Robert W. Baird’s target price points to a potential upside of 15.44% from the stock’s previous close.
Several other research analysts have also weighed in on WRI. J P Morgan Chase & Co reissued a “neutral” rating and issued a $35.00 price objective (down from $37.00) on shares of Weingarten Realty Investors in a research report on Wednesday, August 9th. BidaskClub raised Weingarten Realty Investors from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. TheStreet raised Weingarten Realty Investors from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. Boenning Scattergood set a $30.00 target price on Weingarten Realty Investors and gave the company a “sell” rating in a research report on Monday, July 31st. Finally, Zacks Investment Research raised Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research report on Saturday, July 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $35.40.
Shares of Weingarten Realty Investors (NYSE WRI) traded down 1.08% during trading on Thursday, hitting $32.05. 1,677,407 shares of the stock were exchanged. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 21.55 and a beta of 0.72. The firm has a 50 day moving average of $31.80 and a 200-day moving average of $32.53. Weingarten Realty Investors has a 12-month low of $29.03 and a 12-month high of $42.12.
Weingarten Realty Investors (NYSE:WRI) last posted its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Weingarten Realty Investors had a return on equity of 11.03% and a net margin of 33.57%. The firm had revenue of $142.96 million during the quarter, compared to analyst estimates of $142.34 million. During the same period last year, the company posted $0.57 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, analysts forecast that Weingarten Realty Investors will post $0.98 earnings per share for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. Franklin Parlapiano Turner & Welch LLC bought a new position in Weingarten Realty Investors during the first quarter worth about $103,000. Founders Capital Management bought a new position in Weingarten Realty Investors during the first quarter worth about $140,000. Commonwealth Bank of Australia increased its position in Weingarten Realty Investors by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 4,684 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 176 shares during the period. Advisor Group Inc. increased its position in Weingarten Realty Investors by 13.9% in the second quarter. Advisor Group Inc. now owns 4,916 shares of the real estate investment trust’s stock worth $147,000 after buying an additional 599 shares during the period. Finally, Flinton Capital Management LLC increased its position in Weingarten Realty Investors by 80.8% in the second quarter. Flinton Capital Management LLC now owns 5,584 shares of the real estate investment trust’s stock worth $168,000 after buying an additional 2,496 shares during the period. Institutional investors and hedge funds own 79.15% of the company’s stock.
About Weingarten Realty Investors
Weingarten Realty Investors is a real estate investment trust (REIT). The Company’s primary business is leasing space to tenants in the shopping centers it owns or leases. The Company also provides property management services. The Company is in the business of owning, managing and developing retail shopping centers.
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