$139.65 Million in Sales Expected for Weingarten Realty Investors (WRI) This Quarter
Analysts expect Weingarten Realty Investors (NYSE:WRI) to report $139.65 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Weingarten Realty Investors’ earnings. The lowest sales estimate is $136.33 million and the highest is $144.33 million. Weingarten Realty Investors posted sales of $136.44 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.4%. The business is expected to report its next earnings results after the market closes on Tuesday, October 24th.
According to Zacks, analysts expect that Weingarten Realty Investors will report full year sales of $139.65 million for the current year, with estimates ranging from $558.40 million to $574.24 million. For the next financial year, analysts anticipate that the firm will report sales of $574.97 million per share, with estimates ranging from $561.92 million to $593.53 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Weingarten Realty Investors.
Weingarten Realty Investors (NYSE:WRI) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Weingarten Realty Investors had a net margin of 33.57% and a return on equity of 11.03%. The firm had revenue of $142.96 million during the quarter, compared to the consensus estimate of $142.34 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year.
Several brokerages recently issued reports on WRI. Boenning Scattergood set a $30.00 target price on shares of Weingarten Realty Investors and gave the stock a “sell” rating in a report on Monday, July 31st. BidaskClub cut shares of Weingarten Realty Investors from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. J P Morgan Chase & Co reissued a “neutral” rating and set a $35.00 target price (down previously from $37.00) on shares of Weingarten Realty Investors in a report on Wednesday, August 9th. Zacks Investment Research cut shares of Weingarten Realty Investors from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $32.00 target price on shares of Weingarten Realty Investors in a report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $34.40.
A number of hedge funds have recently added to or reduced their stakes in WRI. Wells Fargo & Company MN grew its position in Weingarten Realty Investors by 22.1% during the first quarter. Wells Fargo & Company MN now owns 37,816 shares of the real estate investment trust’s stock valued at $1,262,000 after buying an additional 6,832 shares during the period. Comerica Bank grew its position in Weingarten Realty Investors by 5.5% during the first quarter. Comerica Bank now owns 96,554 shares of the real estate investment trust’s stock valued at $3,213,000 after buying an additional 4,992 shares during the period. Swiss National Bank grew its position in Weingarten Realty Investors by 0.7% during the first quarter. Swiss National Bank now owns 201,000 shares of the real estate investment trust’s stock valued at $6,711,000 after buying an additional 1,300 shares during the period. World Asset Management Inc grew its position in Weingarten Realty Investors by 1.7% during the first quarter. World Asset Management Inc now owns 8,952 shares of the real estate investment trust’s stock valued at $299,000 after buying an additional 148 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in Weingarten Realty Investors by 4.0% during the first quarter. UBS Asset Management Americas Inc. now owns 388,178 shares of the real estate investment trust’s stock valued at $12,961,000 after buying an additional 14,982 shares during the period. Institutional investors own 80.27% of the company’s stock.
Shares of Weingarten Realty Investors (WRI) opened at 31.76 on Monday. Weingarten Realty Investors has a 12 month low of $29.03 and a 12 month high of $40.51. The company has a market cap of $4.08 billion, a P/E ratio of 21.36 and a beta of 0.72. The stock’s 50 day moving average is $32.51 and its 200-day moving average is $32.07.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 8th were given a dividend of $0.385 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.54 annualized dividend and a yield of 4.85%. Weingarten Realty Investors’s dividend payout ratio is presently 104.76%.
Weingarten Realty Investors Company Profile
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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