Zacks Investment Research Downgrades Weingarten Realty Investors (WRI) to Sell

Zacks Investment Research downgraded shares of Weingarten Realty Investors (NYSE:WRI) from a hold rating to a sell rating in a research note released on Saturday, Zacks.com reports.

According to Zacks, “Weingarten Realty Investors is focused on delivering solid returns to shareholders by actively developing, acquiring, and intensively managing properties in twenty one states that span the southern portion of the United States from coast to coast. Weingarten’s business activities encompass the long-term ownership, management, acquisition, development and redevelopment of strategically located neighborhood and community shopping centers and select industrial properties. The vast majority of our shopping centers are anchored by either a supermarket or a national value-oriented retailer. These anchors combined with convenient locations, attractive and well-maintained properties and a strong tenant mix help to ensure the long-term success of our merchants and the viability of our portfolio. The Company’s portfolio of Thirf caproperties includes thirty neighborhood and community shopping centers and sixty four industrial properties, aggregating fourty million square feet. “

Several other research analysts have also recently issued reports on the company. Bank of America cut Weingarten Realty Investors from a buy rating to a neutral rating in a report on Monday, March 4th. ValuEngine raised Weingarten Realty Investors from a sell rating to a hold rating in a report on Tuesday, January 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $30.60.

NYSE WRI opened at $29.00 on Friday. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 12.72, a P/E/G ratio of 2.69 and a beta of 0.72. Weingarten Realty Investors has a 1 year low of $23.80 and a 1 year high of $32.02. The company has a current ratio of 1.87, a quick ratio of 1.54 and a debt-to-equity ratio of 1.02.

Weingarten Realty Investors (NYSE:WRI) last posted its quarterly earnings results on Monday, April 29th. The real estate investment trust reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.14). The company had revenue of $119.83 million during the quarter, compared to the consensus estimate of $119.40 million. Weingarten Realty Investors had a net margin of 44.16% and a return on equity of 12.53%. Weingarten Realty Investors’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. As a group, analysts anticipate that Weingarten Realty Investors will post 2.14 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend is Thursday, June 6th. Weingarten Realty Investors’s dividend payout ratio (DPR) is currently 69.30%.

In other Weingarten Realty Investors news, Director Stephen A. Lasher sold 115,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $29.25, for a total transaction of $3,363,750.00. Following the sale, the director now directly owns 101,797 shares of the company’s stock, valued at approximately $2,977,562.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.40% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. grew its holdings in shares of Weingarten Realty Investors by 11.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 32,224 shares of the real estate investment trust’s stock valued at $799,000 after acquiring an additional 3,404 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its holdings in Weingarten Realty Investors by 20.0% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 18,000 shares of the real estate investment trust’s stock worth $447,000 after purchasing an additional 3,000 shares in the last quarter. UBS Oconnor LLC bought a new stake in Weingarten Realty Investors in the fourth quarter worth $4,223,000. Rhumbline Advisers boosted its holdings in Weingarten Realty Investors by 41.1% in the fourth quarter. Rhumbline Advisers now owns 330,628 shares of the real estate investment trust’s stock worth $8,203,000 after purchasing an additional 96,225 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its holdings in 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 worth $37,744,000 after purchasing an additional 1,193,359 shares in the last quarter. 79.17% of the stock is currently owned by institutional investors.

About Weingarten Realty Investors

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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