Weingarten Realty Investors (WRI) to Issue Quarterly Dividend of $0.37 on December 15th
Weingarten Realty Investors (NYSE:WRI) declared a quarterly dividend on Thursday, October 27th. Shareholders of record on Thursday, December 8th will be given a dividend of 0.365 per share by the real estate investment trust on Thursday, December 15th. This represents a $1.46 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend is Tuesday, December 6th.
Weingarten Realty Investors (NYSE:WRI) opened at 35.51 on Thursday. The company has a market capitalization of $4.55 billion, a PE ratio of 18.55 and a beta of 0.84. The firm has a 50-day moving average of $36.01 and a 200 day moving average of $39.00. Weingarten Realty Investors has a 12-month low of $31.89 and a 12-month high of $43.70.
Weingarten Realty Investors (NYSE:WRI) last issued its quarterly earnings data on Thursday, October 27th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. The firm earned $129.70 million during the quarter, compared to analysts’ expectations of $134.50 million. Weingarten Realty Investors had a net margin of 45.71% and a return on equity of 14.82%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. Analysts forecast that Weingarten Realty Investors will post $2.30 EPS for the current fiscal year.
In related news, CEO Andrew M. Alexander sold 5,731 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $41.59, for a total transaction of $238,352.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen A. Lasher sold 8,287 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $41.75, for a total transaction of $345,982.25. Following the transaction, the director now owns 203,529 shares in the company, valued at $8,497,335.75. The disclosure for this sale can be found here. Corporate insiders own 8.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its position in Weingarten Realty Investors by 12.5% in the second quarter. Franklin Resources Inc. now owns 442,655 shares of the real estate investment trust’s stock valued at $18,069,000 after buying an additional 49,200 shares during the period. Sei Investments Co. boosted its position in Weingarten Realty Investors by 77.8% in the second quarter. Sei Investments Co. now owns 10,565 shares of the real estate investment trust’s stock worth $431,000 after buying an additional 4,622 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Weingarten Realty Investors during the second quarter worth $498,000. Comerica Bank boosted its position in Weingarten Realty Investors by 2.7% in the second quarter. Comerica Bank now owns 83,883 shares of the real estate investment trust’s stock worth $3,539,000 after buying an additional 2,206 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in Weingarten Realty Investors by 18.3% in the second quarter. Alliancebernstein L.P. now owns 152,972 shares of the real estate investment trust’s stock worth $6,244,000 after buying an additional 23,660 shares during the last quarter. Institutional investors and hedge funds own 81.00% of the company’s stock.
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A number of research analysts have recently issued reports on WRI shares. Citigroup Inc. lifted their price objective on shares of Weingarten Realty Investors from $40.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, August 12th. Zacks Investment Research upgraded shares of Weingarten Realty Investors from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Tuesday, August 16th. Jefferies Group reiterated a “hold” rating on shares of Weingarten Realty Investors in a report on Tuesday, August 23rd. Finally, Boenning Scattergood upgraded shares of Weingarten Realty Investors from an “underperform” rating to a “neutral” rating in a report on Tuesday, October 18th.
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. 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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