Weingarten Realty Investors (WRI) Expected to Announce Quarterly Sales of $120.65 Million

Equities research analysts expect Weingarten Realty Investors (NYSE:WRI) to post $120.65 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Weingarten Realty Investors’ earnings, with estimates ranging from $118.62 million to $122.45 million. Weingarten Realty Investors reported sales of $132.45 million during the same quarter last year, which indicates a negative year over year growth rate of 8.9%. The firm is expected to report its next quarterly earnings report after the market closes on Monday, April 29th.

According to Zacks, analysts expect that Weingarten Realty Investors will report full-year sales of $481.20 million for the current financial year, with estimates ranging from $472.04 million to $496.22 million. For the next year, analysts expect that the business will report sales of $496.24 million, with estimates ranging from $484.90 million to $509.64 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Weingarten Realty Investors.

Weingarten Realty Investors (NYSE:WRI) last announced its quarterly earnings results on Wednesday, February 20th. The real estate investment trust reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.02). The business had revenue of $127.81 million for the quarter, compared to analyst estimates of $123.99 million. Weingarten Realty Investors had a net margin of 61.68% and a return on equity of 17.27%. The company’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share.

WRI has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research report on Thursday. ValuEngine lowered shares of Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research note on Tuesday, December 25th. Finally, Bank of America lowered shares of Weingarten Realty Investors from a “buy” rating to a “neutral” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Weingarten Realty Investors currently has a consensus rating of “Hold” and a consensus price target of $30.60.

WRI stock traded up $0.24 during midday trading on Thursday, reaching $29.15. 687,763 shares of the company’s stock traded hands, compared to its average volume of 725,777. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 12.79, a price-to-earnings-growth ratio of 3.02 and a beta of 0.74. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.03. Weingarten Realty Investors has a fifty-two week low of $23.80 and a fifty-two week high of $32.02.

Institutional investors and hedge funds have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund increased its stake in Weingarten Realty Investors by 2,381.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,167,459 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 1,120,403 shares during the last quarter. First Hawaiian Bank lifted its holdings in Weingarten Realty Investors by 93.4% in the first quarter. First Hawaiian Bank now owns 2,065 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 997 shares during the period. Acadian Asset Management LLC acquired a new stake in Weingarten Realty Investors in the fourth quarter worth about $81,000. Ipswich Investment Management Co. Inc. acquired a new stake in Weingarten Realty Investors in the fourth quarter worth about $84,000. Finally, Pinnacle Bank acquired a new stake in Weingarten Realty Investors in the fourth quarter worth about $102,000. Institutional investors own 79.01% of the company’s stock.

About Weingarten Realty Investors

Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At December 31, 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 178 properties which are located in 17 states spanning the country from coast to coast.

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Earnings History and Estimates for Weingarten Realty Investors (NYSE:WRI)

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