American International Group Inc. cut its stake in Weingarten Realty Investors (NYSE:WRI) by 1.9% in the 1st quarter, HoldingsChannel reports. The firm owned 238,593 shares of the real estate investment trust’s stock after selling 4,662 shares during the period. American International Group Inc.’s holdings in Weingarten Realty Investors were worth $7,007,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. D. E. Shaw & Co. Inc. raised its holdings in Weingarten Realty Investors by 11.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 32,224 shares of the real estate investment trust’s stock worth $799,000 after purchasing an additional 3,404 shares in the last quarter. Candriam Luxembourg S.C.A. raised its holdings in Weingarten Realty Investors by 20.0% in the 4th 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 position in Weingarten Realty Investors in the 4th quarter worth $4,223,000. Rhumbline Advisers raised its holdings in Weingarten Realty Investors by 41.1% in the 4th 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, Arizona State Retirement System raised its holdings in Weingarten Realty Investors by 1.3% in the 4th quarter. Arizona State Retirement System now owns 85,656 shares of the real estate investment trust’s stock worth $2,125,000 after purchasing an additional 1,082 shares in the last quarter. Institutional investors and hedge funds own 80.00% of the company’s stock.
Several brokerages have commented on WRI. Zacks Investment Research lowered shares of Weingarten Realty Investors from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. ValuEngine upgraded shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. 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 equities research 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 has a consensus rating of “Hold” and an average target price of $30.60.
Weingarten Realty Investors (NYSE:WRI) last issued 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 business had revenue of $119.83 million during the quarter, compared to the consensus estimate of $119.40 million. Weingarten Realty Investors had a return on equity of 12.53% and a net margin of 44.16%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. Equities research analysts expect that Weingarten Realty Investors will post 2.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, June 7th will be paid a $0.395 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.58 annualized dividend and a dividend yield of 5.45%. Weingarten Realty Investors’s payout ratio is 69.30%.
In related news, Director Stephen A. Lasher sold 115,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $29.25, for a total value of $3,363,750.00. Following the completion of the transaction, the director now directly owns 101,797 shares in the company, valued at approximately $2,977,562.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.40% of the stock is owned by company insiders.
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Weingarten Realty Investors Company Profile
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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