Weingarten Realty Investors (WRI) Sees Large Volume Increase
Weingarten Realty Investors (NYSE:WRI) saw unusually-high trading volume on Friday . Approximately 2,170,605 shares traded hands during trading, an increase of 153% from the previous session’s volume of 857,312 shares.The stock last traded at $33.37 and had previously closed at $33.09.
WRI has been the topic of several recent research reports. Jefferies Group restated a “hold” rating and set a $32.00 price target on shares of Weingarten Realty Investors in a report on Tuesday, August 29th. J P Morgan Chase & Co decreased their price target on Weingarten Realty Investors from $35.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, October 30th. Robert W. Baird restated a “buy” rating and set a $37.00 price target on shares of Weingarten Realty Investors in a report on Thursday, August 24th. Finally, Boenning Scattergood set a $30.00 price target on Weingarten Realty Investors and gave the company a “sell” rating in a report on Thursday, October 26th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $33.25.
The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $4,290.00, a P/E ratio of 13.56, a price-to-earnings-growth ratio of 3.29 and a beta of 0.71.
Weingarten Realty Investors (NYSE:WRI) last released its earnings results on Tuesday, October 24th. The real estate investment trust reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Weingarten Realty Investors had a return on equity of 12.07% and a net margin of 36.86%. The business had revenue of $141.06 million for the quarter, compared to analyst estimates of $139.72 million. During the same quarter last year, the firm posted $0.58 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. sell-side analysts forecast that Weingarten Realty Investors will post 2.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Tuesday, December 26th will be paid a $0.75 dividend. This is a positive change from Weingarten Realty Investors’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, December 22nd. This represents a $3.00 dividend on an annualized basis and a yield of 8.99%. Weingarten Realty Investors’s dividend payout ratio (DPR) is presently 93.90%.
A number of hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado increased its stake in Weingarten Realty Investors by 0.3% in the second quarter. Public Employees Retirement Association of Colorado now owns 28,631 shares of the real estate investment trust’s stock worth $862,000 after purchasing an additional 83 shares during the period. Commonwealth Bank of Australia increased its stake in Weingarten Realty Investors by 3.9% in the second quarter. Commonwealth Bank of Australia now owns 4,684 shares of the real estate investment trust’s stock worth $140,000 after purchasing an additional 176 shares during the period. World Asset Management Inc increased its stake in Weingarten Realty Investors by 2.9% in the second quarter. World Asset Management Inc now owns 9,213 shares of the real estate investment trust’s stock worth $277,000 after purchasing an additional 261 shares during the period. Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in Weingarten Realty Investors by 0.4% in the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 86,331 shares of the real estate investment trust’s stock worth $2,599,000 after purchasing an additional 363 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Weingarten Realty Investors by 7.6% in the second quarter. PNC Financial Services Group Inc. now owns 7,055 shares of the real estate investment trust’s stock worth $211,000 after purchasing an additional 498 shares during the period. Institutional investors and hedge funds own 79.17% of the company’s stock.
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Weingarten Realty Investors Company Profile
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. The Company also provides property management services. The Company is in the business of owning, managing and developing retail shopping centers.
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