State of Alaska Department of Revenue boosted its stake in Weingarten Realty Investors (NYSE:WRI) by 21.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,961 shares of the real estate investment trust’s stock after buying an additional 11,799 shares during the period. State of Alaska Department of Revenue owned 0.05% of Weingarten Realty Investors worth $1,774,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of WRI. JPMorgan Chase & Co. increased its position in Weingarten Realty Investors by 24.9% in the fourth quarter. JPMorgan Chase & Co. now owns 15,862,014 shares of the real estate investment trust’s stock worth $343,730,000 after buying an additional 3,159,144 shares during the period. Norges Bank acquired a new stake in Weingarten Realty Investors in the fourth quarter worth $35,259,000. Kempen Capital Management N.V. acquired a new stake in Weingarten Realty Investors in the fourth quarter worth $5,897,000. Canada Pension Plan Investment Board acquired a new stake in Weingarten Realty Investors in the fourth quarter worth $5,264,000. Finally, Hill Winds Capital LP acquired a new stake in Weingarten Realty Investors in the fourth quarter worth $5,201,000. 81.80% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:WRI opened at $30.51 on Wednesday. Weingarten Realty Investors has a 1-year low of $13.28 and a 1-year high of $31.13. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. The firm has a fifty day simple moving average of $27.35 and a 200 day simple moving average of $22.70. The stock has a market capitalization of $3.90 billion, a PE ratio of 16.06, a P/E/G ratio of 4.08 and a beta of 1.27.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 16th. Shareholders of record on Tuesday, March 9th were issued a dividend of $0.30 per share. This is an increase from Weingarten Realty Investors’s previous quarterly dividend of $0.18. The ex-dividend date was Monday, March 8th. This represents a $1.20 annualized dividend and a yield of 3.93%. Weingarten Realty Investors’s dividend payout ratio (DPR) is currently 57.14%.
WRI has been the topic of a number of research analyst reports. Truist raised their price target on Weingarten Realty Investors from $24.00 to $28.00 in a report on Friday, March 5th. BTIG Research lowered Weingarten Realty Investors from a “buy” rating to a “neutral” rating in a report on Monday. Scotiabank cut Weingarten Realty Investors from a “sector outperform” rating to a “sector perform” rating and set a $30.00 target price for the company. in a research note on Friday, April 16th. Finally, Robert W. Baird assumed coverage on Weingarten Realty Investors in a research note on Tuesday, April 13th. They set an “outperform” rating and a $29.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.38.
Weingarten Realty Investors Company Profile
Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At September 30, 2020, 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 162 properties which are located in 15 states spanning the country from coast to coast.
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