Weingarten Realty Investors (WRI) Expected to Post Quarterly Sales of $121.49 Million
Analysts expect Weingarten Realty Investors (NYSE:WRI) to announce sales of $121.49 million for the current quarter, according to Zacks. Four analysts have provided estimates for Weingarten Realty Investors’ earnings, with estimates ranging from $117.27 million to $123.89 million. Weingarten Realty Investors reported sales of $138.52 million in the same quarter last year, which indicates a negative year-over-year growth rate of 12.3%. The company is scheduled to report its next quarterly earnings report on Monday, July 29th.
According to Zacks, analysts expect that Weingarten Realty Investors will report full-year sales of $484.81 million for the current fiscal year, with estimates ranging from $472.04 million to $499.38 million. For the next financial year, analysts anticipate that the company will report sales of $500.44 million, with estimates ranging from $490.76 million to $513.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Weingarten Realty Investors.
Weingarten Realty Investors (NYSE:WRI) last announced its quarterly earnings results on Monday, April 29th. The real estate investment trust reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.14). Weingarten Realty Investors had a net margin of 44.16% and a return on equity of 12.53%. The firm had revenue of $119.83 million during the quarter, compared to the consensus estimate of $119.40 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The firm’s revenue was down 7.2% on a year-over-year basis.
Shares of WRI traded up $0.06 during trading hours on Friday, reaching $28.91. The stock had a trading volume of 30,265 shares, compared to its average volume of 730,777. Weingarten Realty Investors has a 12 month low of $23.80 and a 12 month high of $32.02. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 2.71 and a beta of 0.72. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.87 and a current ratio of 1.87.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date is Thursday, June 6th. Weingarten Realty Investors’s payout ratio is currently 69.30%.
In other news, Director Stephen A. Lasher sold 115,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $29.25, for a total transaction of $3,363,750.00. Following the completion of the sale, the director now owns 101,797 shares in the company, valued at approximately $2,977,562.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.40% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of Weingarten Realty Investors by 36.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 278,911 shares of the real estate investment trust’s stock valued at $8,301,000 after acquiring an additional 74,745 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Weingarten Realty Investors by 40.1% in the third quarter. Renaissance Technologies LLC now owns 89,800 shares of the real estate investment trust’s stock valued at $2,672,000 after buying an additional 25,700 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of Weingarten Realty Investors in the third quarter valued at about $9,167,000. Federated Investors Inc. PA raised its position in shares of Weingarten Realty Investors by 1,592.9% in the third quarter. Federated Investors Inc. PA now owns 1,268,278 shares of the real estate investment trust’s stock valued at $37,744,000 after buying an additional 1,193,359 shares during the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of Weingarten Realty Investors by 0.5% in the fourth quarter. Retirement Systems of Alabama now owns 154,731 shares of the real estate investment trust’s stock valued at $3,839,000 after buying an additional 804 shares during the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.
Weingarten Realty Investors Company Profile
Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At March 31, 2019, 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 177 properties which are located in 17 states spanning the country from coast to coast.
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