Weingarten Realty Investors (NYSE:WRI) Shares Up 11.7%

Weingarten Realty Investors (NYSE:WRI)’s share price shot up 11.7% during mid-day trading on Wednesday . The company traded as high as $14.48 and last traded at $16.10, 58,706 shares traded hands during mid-day trading. A decline of 97% from the average session volume of 1,718,472 shares. The stock had previously closed at $14.42.

A number of brokerages recently issued reports on WRI. ValuEngine raised Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research report on Friday, March 13th. JPMorgan Chase & Co. dropped their target price on Weingarten Realty Investors from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, March 12th. Zacks Investment Research raised Weingarten Realty Investors from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Thursday, January 2nd. Compass Point lowered Weingarten Realty Investors from a “buy” rating to a “neutral” rating and set a $32.00 price target on the stock. in a research report on Friday, December 27th. Finally, BTIG Research lowered their price target on Weingarten Realty Investors from $32.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $30.17.

The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 6.47, a price-to-earnings-growth ratio of 2.99 and a beta of 0.74. The company has a 50-day simple moving average of $25.49 and a two-hundred day simple moving average of $29.02. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.24 and a current ratio of 1.24.

Weingarten Realty Investors (NYSE:WRI) last posted its quarterly earnings results on Tuesday, February 25th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.05. The firm had revenue of $119.47 million for the quarter, compared to analyst estimates of $118.83 million. Weingarten Realty Investors had a return on equity of 17.32% and a net margin of 64.82%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS. As a group, sell-side analysts predict that Weingarten Realty Investors will post 2.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, March 6th were given a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 10.01%. The ex-dividend date was Thursday, March 5th. Weingarten Realty Investors’s dividend payout ratio (DPR) is 75.24%.

In related news, Director Stephen A. Lasher purchased 10,000 shares of the stock in a transaction on Wednesday, March 11th. The shares were purchased at an average price of $22.89 per share, with a total value of $228,900.00. Following the transaction, the director now directly owns 117,692 shares of the company’s stock, valued at $2,693,969.88. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 6.30% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of WRI. Voya Investment Management LLC boosted its stake in shares of Weingarten Realty Investors by 16.9% during the 3rd quarter. Voya Investment Management LLC now owns 25,091 shares of the real estate investment trust’s stock worth $731,000 after acquiring an additional 3,636 shares during the period. Pictet Asset Management Ltd. boosted its stake in shares of Weingarten Realty Investors by 8.6% during the 3rd quarter. Pictet Asset Management Ltd. now owns 24,000 shares of the real estate investment trust’s stock worth $699,000 after acquiring an additional 1,900 shares during the period. California State Teachers Retirement System boosted its stake in shares of Weingarten Realty Investors by 0.3% during the 3rd quarter. California State Teachers Retirement System now owns 192,823 shares of the real estate investment trust’s stock worth $5,617,000 after acquiring an additional 520 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of Weingarten Realty Investors by 29.3% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 359,433 shares of the real estate investment trust’s stock worth $10,470,000 after acquiring an additional 81,420 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Weingarten Realty Investors by 4.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 194,136 shares of the real estate investment trust’s stock worth $5,655,000 after acquiring an additional 7,457 shares during the period. Institutional investors own 80.40% of the company’s stock.

About Weingarten Realty Investors (NYSE:WRI)

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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