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

Analysts expect that Weingarten Realty Investors (NYSE:WRI) will post $0.58 earnings per share (EPS) for the current quarter, Zacks reports. Five analysts have provided estimates for Weingarten Realty Investors’ earnings, with the highest EPS estimate coming in at $0.58 and the lowest estimate coming in at $0.57. Weingarten Realty Investors posted earnings of $0.61 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 4.9%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, October 24th.

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 $2.33. For the next fiscal year, analysts forecast that the business will report earnings of $2.33 per share, with EPS estimates ranging from $2.23 to $2.41. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Weingarten Realty Investors.

Weingarten Realty Investors (NYSE:WRI) last posted its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. Weingarten Realty Investors had a return on equity of 24.90% and a net margin of 83.46%. The business had revenue of $138.50 million for the quarter, compared to analyst estimates of $128.13 million. During the same period last year, the company earned $0.61 EPS. Weingarten Realty Investors’s revenue for the quarter was down 3.1% compared to the same quarter last year.

Several equities analysts recently issued reports on WRI shares. Zacks Investment Research lowered Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research report on Thursday, July 26th. TheStreet upgraded Weingarten Realty Investors from a “c+” rating to a “b-” rating in a research report on Monday, June 25th. Wells Fargo & Co raised their price target on Weingarten Realty Investors from $27.00 to $30.00 and gave the stock a “market perform” rating in a research report on Thursday, August 9th. Jefferies Financial Group set a $30.00 price target on Weingarten Realty Investors and gave the stock a “hold” rating in a research report on Wednesday, August 15th. Finally, BTIG Research started coverage on Weingarten Realty Investors in a research report on Wednesday, August 1st. They set a “buy” rating and a $34.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $31.14.

WRI traded down $0.16 on Friday, hitting $27.42. 1,080,100 shares of the company were exchanged, compared to its average volume of 740,651. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.23 and a quick ratio of 1.23. Weingarten Realty Investors has a 12 month low of $25.67 and a 12 month high of $33.83. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 2.99 and a beta of 0.47.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, September 7th were given a $0.395 dividend. The ex-dividend date was Thursday, September 6th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 5.76%. Weingarten Realty Investors’s dividend payout ratio is currently 64.49%.

In other news, CFO Stephen C. Richter sold 102,454 shares of Weingarten Realty Investors stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $30.83, for a total value of $3,158,656.82. Following the sale, the chief financial officer now directly owns 351,286 shares in the company, valued at approximately $10,830,147.38. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew M. Alexander sold 126,730 shares of Weingarten Realty Investors stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 1,263,172 shares in the company, valued at $38,792,012.12. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of WRI. Wells Fargo & Company MN grew its position in shares of Weingarten Realty Investors by 8.6% in the 1st quarter. Wells Fargo & Company MN now owns 149,804 shares of the real estate investment trust’s stock worth $4,206,000 after buying an additional 11,871 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Weingarten Realty Investors by 3.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,769 shares of the real estate investment trust’s stock valued at $52,615,000 after purchasing an additional 69,080 shares during the period. Hsbc Holdings PLC lifted its stake in shares of Weingarten Realty Investors by 8.1% in the 1st 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. OppenheimerFunds Inc. lifted its stake in shares of Weingarten Realty Investors by 23.9% in the 1st quarter. OppenheimerFunds Inc. now owns 38,096 shares of the real estate investment trust’s stock valued at $1,070,000 after purchasing an additional 7,347 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in shares of Weingarten Realty Investors by 2.6% in the 1st quarter. Principal Financial Group Inc. now owns 522,358 shares of the real estate investment trust’s stock valued at $14,668,000 after purchasing an additional 13,297 shares during the period. Hedge funds and other institutional investors own 77.48% 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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Earnings History and Estimates for Weingarten Realty Investors (NYSE:WRI)

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