First Trust Advisors LP Decreases Position in Weingarten Realty Investors (WRI)
First Trust Advisors LP reduced its stake in shares of Weingarten Realty Investors (NYSE:WRI) by 14.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 72,063 shares of the real estate investment trust’s stock after selling 12,113 shares during the period. First Trust Advisors LP owned 0.06% of Weingarten Realty Investors worth $2,942,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in WRI. Nomura Asset Management Co. Ltd. increased its position in shares of Weingarten Realty Investors by 6.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 66,080 shares of the real estate investment trust’s stock worth $2,285,000 after buying an additional 4,150 shares during the last quarter. Norges Bank acquired a new stake in Weingarten Realty Investors during the fourth quarter valued at about $34,125,000. Fox Run Management L.L.C. boosted its stake in Weingarten Realty Investors by 5.4% in the first quarter. Fox Run Management L.L.C. now owns 7,800 shares of the real estate investment trust’s stock valued at $293,000 after buying an additional 400 shares during the period. Boston Advisors LLC boosted its stake in Weingarten Realty Investors by 1.2% in the first quarter. Boston Advisors LLC now owns 16,846 shares of the real estate investment trust’s stock valued at $632,000 after buying an additional 203 shares during the period. Finally, RKL Wealth Management LLC boosted its stake in Weingarten Realty Investors by 127.8% in the first quarter. RKL Wealth Management LLC now owns 13,655 shares of the real estate investment trust’s stock valued at $512,000 after buying an additional 7,661 shares during the period. Institutional investors and hedge funds own 80.61% of the company’s stock.
Shares of Weingarten Realty Investors (NYSE:WRI) traded up 1.09% during midday trading on Monday, hitting $39.05. The stock had a trading volume of 394,684 shares. The stock has a 50-day moving average price of $41.54 and a 200-day moving average price of $39.15. Weingarten Realty Investors has a 12-month low of $31.73 and a 12-month high of $43.70. The stock has a market cap of $4.99 billion, a P/E ratio of 21.06 and a beta of 0.90.
Weingarten Realty Investors (NYSE:WRI) last released its quarterly earnings results on Thursday, July 28th. The real estate investment trust reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.01. The business had revenue of $135.70 million for the quarter, compared to analysts’ expectations of $129.52 million. Weingarten Realty Investors had a return on equity of 14.66% and a net margin of 44.98%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. Equities analysts forecast that Weingarten Realty Investors will post $2.30 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 8th were issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date was Tuesday, September 6th. Weingarten Realty Investors’s dividend payout ratio is currently 78.49%.
Several equities research analysts have issued reports on WRI shares. Jefferies Group reissued a “hold” rating on shares of Weingarten Realty Investors in a research note on Tuesday, August 23rd. Zacks Investment Research raised Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Tuesday, July 12th. Citigroup Inc. raised their target price on Weingarten Realty Investors from $40.00 to $42.00 and gave the stock a “neutral” rating in a research note on Friday, August 12th. Finally, Boenning Scattergood started coverage on Weingarten Realty Investors in a research note on Tuesday, June 28th. They set an “underperform” rating and a $35.50 target price for the company.
In related news, CFO Stephen C. Richter sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of C$42.80, for a total value of C$770,400.00. Following the sale, the chief financial officer now owns 266,593 shares of the company’s stock, valued at approximately C$11,410,180.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Andrew M. Alexander sold 66,224 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of C$41.59, for a total value of C$2,754,256.16. Following the completion of the sale, the chief executive officer now directly owns 1,167,577 shares in the company, valued at approximately C$48,559,527.43. The disclosure for this sale can be found here. 8.80% of the stock is owned by corporate insiders.
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. It is engaged in the business of owning, managing and developing retail shopping centers. Its properties consist primarily of neighborhood and community shopping centers.
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