Weingarten Realty Investors (WRI) Expected to Post Quarterly Sales of $126.36 Million
Equities analysts expect that Weingarten Realty Investors (NYSE:WRI) will post sales of $126.36 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Weingarten Realty Investors’ earnings. The lowest sales estimate is $125.30 million and the highest is $127.72 million. Weingarten Realty Investors reported sales of $141.06 million in the same quarter last year, which indicates a negative year-over-year growth rate of 10.4%. The business is scheduled to issue its next earnings results after the market closes on Wednesday, October 24th.
According to Zacks, analysts expect that Weingarten Realty Investors will report full year sales of $520.51 million for the current financial year, with estimates ranging from $517.20 million to $523.36 million. For the next financial year, analysts anticipate that the business will post sales of $512.56 million, with estimates ranging from $501.50 million to $529.32 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Weingarten Realty Investors.
Weingarten Realty Investors (NYSE:WRI) last released 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 Zacks’ consensus estimate of $0.57. Weingarten Realty Investors had a net margin of 83.46% and a return on equity of 24.90%. The company had revenue of $138.50 million during the quarter, compared to the consensus estimate of $128.13 million. During the same period in the prior year, the firm earned $0.61 earnings per share. Weingarten Realty Investors’s revenue was down 3.1% on a year-over-year basis.
WRI stock traded down $0.11 during trading on Friday, reaching $27.74. The company had a trading volume of 33,412 shares, compared to its average volume of 739,521. Weingarten Realty Investors has a 52 week low of $25.67 and a 52 week high of $33.83. The company has a market cap of $3.81 billion, a P/E ratio of 11.34, a PEG ratio of 2.99 and a beta of 0.47. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.23 and a quick ratio of 1.23.
In other news, CEO Andrew M. Alexander sold 126,730 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $30.71, for a total transaction of $3,891,878.30. Following the sale, the chief executive officer now owns 1,263,172 shares in the company, valued at $38,792,012.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Stephen C. Richter sold 102,454 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $30.83, for a total transaction of $3,158,656.82. Following the sale, the chief financial officer now owns 351,286 shares in the company, valued at approximately $10,830,147.38. The disclosure for this sale can be found here. 7.50% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Hsbc Holdings PLC raised its stake in 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 last quarter. Arizona State Retirement System grew its holdings in Weingarten Realty Investors by 2.5% in the 2nd quarter. Arizona State Retirement System now owns 82,743 shares of the real estate investment trust’s stock valued at $2,549,000 after buying an additional 1,981 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Weingarten Realty Investors by 2.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 124,484 shares of the real estate investment trust’s stock valued at $3,835,000 after buying an additional 2,821 shares during the period. Xact Kapitalforvaltning AB grew its holdings in Weingarten Realty Investors by 23.2% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 18,597 shares of the real estate investment trust’s stock valued at $573,000 after buying an additional 3,500 shares during the period. Finally, OppenheimerFunds Inc. grew its holdings in Weingarten Realty Investors by 9.6% in the 2nd quarter. OppenheimerFunds Inc. now owns 41,748 shares of the real estate investment trust’s stock valued at $1,286,000 after buying an additional 3,652 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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