Weingarten Realty Investors to Issue Quarterly Dividend of $0.40 (NYSE:WRI)

Weingarten Realty Investors (NYSE:WRI) declared a quarterly dividend on Wednesday, July 31st, Zacks reports. Stockholders of record on Friday, September 6th will be given a dividend of 0.395 per share by the real estate investment trust on Friday, September 13th. This represents a $1.58 annualized dividend and a dividend yield of 5.72%. The ex-dividend date is Thursday, September 5th.

Weingarten Realty Investors has raised its dividend payment by an average of 4.6% annually over the last three years and has increased its dividend every year for the last 9 years. Weingarten Realty Investors has a dividend payout ratio of 68.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Weingarten Realty Investors to earn $2.20 per share next year, which means the company should continue to be able to cover its $1.58 annual dividend with an expected future payout ratio of 71.8%.

WRI stock opened at $27.62 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.87 and a quick ratio of 1.87. The company has a market cap of $3.58 billion, a P/E ratio of 12.11, a price-to-earnings-growth ratio of 2.60 and a beta of 0.64. Weingarten Realty Investors has a fifty-two week low of $23.80 and a fifty-two week high of $32.02. The business’s fifty day moving average price is $27.74.

Weingarten Realty Investors (NYSE:WRI) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.12. The company had revenue of $119.46 million during the quarter, compared to the consensus estimate of $119.62 million. Weingarten Realty Investors had a return on equity of 12.53% and a net margin of 44.16%. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 EPS. On average, analysts predict that Weingarten Realty Investors will post 2.14 EPS for the current fiscal year.

Several research analysts have recently weighed in on WRI shares. Zacks Investment Research downgraded Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research note on Saturday, May 11th. ValuEngine downgraded Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $29.75.

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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Dividend History for Weingarten Realty Investors (NYSE:WRI)

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