First Trust Advisors LP reduced its stake in Weingarten Realty Investors (NYSE:WRI) by 5.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 513,821 shares of the real estate investment trust’s stock after selling 28,590 shares during the quarter. First Trust Advisors LP owned approximately 0.40% of Weingarten Realty Investors worth $15,291,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Weingarten Realty Investors by 0.3% during the second quarter. BlackRock Inc. now owns 14,746,099 shares of the real estate investment trust’s stock valued at $454,329,000 after acquiring an additional 39,597 shares during the period. Bank of New York Mellon Corp raised its holdings in Weingarten Realty Investors by 27.3% during the second quarter. Bank of New York Mellon Corp now owns 2,827,494 shares of the real estate investment trust’s stock valued at $87,116,000 after acquiring an additional 606,540 shares during the period. Northern Trust Corp raised its holdings in Weingarten Realty Investors by 4.1% during the second 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. Dimensional Fund Advisors LP raised its holdings in Weingarten Realty Investors by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,900,188 shares of the real estate investment trust’s stock valued at $58,546,000 after acquiring an additional 26,419 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in Weingarten Realty Investors by 5.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,460,431 shares of the real estate investment trust’s stock valued at $44,996,000 after acquiring an additional 72,999 shares during the period. 77.39% of the stock is currently owned by institutional investors.
A number of equities research analysts have commented on the company. Zacks Investment Research cut Weingarten Realty Investors from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. JPMorgan Chase & Co. raised their price target on Weingarten Realty Investors from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Jefferies Financial Group set a $30.00 price target on Weingarten Realty Investors and gave the company a “hold” rating in a report on Wednesday, August 15th. Wells Fargo & Co raised their price target on Weingarten Realty Investors from $27.00 to $30.00 and gave the company a “market perform” rating in a report on Thursday, August 9th. Finally, Scotiabank assumed coverage on Weingarten Realty Investors in a research report on Tuesday, October 16th. They set a “sector perform” rating for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. Weingarten Realty Investors presently has an average rating of “Hold” and a consensus price target of $31.33.
Shares of Weingarten Realty Investors stock opened at $28.98 on Friday. The stock has a market cap of $3.61 billion, a PE ratio of 11.83, a PEG ratio of 2.70 and a beta of 0.46. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.93. Weingarten Realty Investors has a twelve month low of $25.67 and a twelve month high of $33.83.
Weingarten Realty Investors (NYSE:WRI) last issued its quarterly earnings data on Wednesday, October 24th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.12. The firm had revenue of $125.26 million during the quarter, compared to analyst estimates of $126.36 million. Weingarten Realty Investors had a return on equity of 22.88% and a net margin of 80.35%. Analysts anticipate that Weingarten Realty Investors will post 2.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, December 7th will be given a dividend of $0.395 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 5.45%. Weingarten Realty Investors’s payout ratio is 64.49%.
In other news, CFO Stephen C. Richter sold 102,454 shares of the firm’s stock in a transaction dated 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 owns 351,286 shares in the company, valued at $10,830,147.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Andrew M. Alexander sold 126,730 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were 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 approximately $38,792,012.12. The disclosure for this sale can be found here. Company insiders own 7.50% of the company’s stock.
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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