Weingarten Realty Investors (WRI) Coverage Initiated at Scotiabank

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Scotiabank initiated coverage on shares of Weingarten Realty Investors (NYSE:WRI) in a research note published on Tuesday, October 16th, The Fly reports. The firm issued a sector perform rating on the real estate investment trust’s stock.

WRI has been the subject of a number of other research reports. Zacks Investment Research cut shares of Weingarten Realty Investors from a hold rating to a sell rating in a report on Thursday, July 26th. TheStreet raised shares of Weingarten Realty Investors from a c+ rating to a b- rating in a research note on Monday, June 25th. Wells Fargo & Co boosted their target price on shares of Weingarten Realty Investors from $27.00 to $30.00 and gave the stock a market perform rating in a research note on Thursday, August 9th. Jefferies Financial Group set a $30.00 target price on shares of Weingarten Realty Investors and gave the stock a hold rating in a research note on Wednesday, August 15th. Finally, BTIG Research started coverage on shares of Weingarten Realty Investors in a research note on Wednesday, August 1st. They set a buy rating and a $34.00 target price for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Weingarten Realty Investors presently has an average rating of Hold and an average target price of $31.33.

NYSE WRI traded up $0.21 on Tuesday, reaching $28.98. 825,558 shares of the company’s stock traded hands, compared to its average volume of 802,237. The company has a market capitalization of $3.67 billion, a PE ratio of 11.83, a P/E/G ratio of 2.75 and a beta of 0.46. Weingarten Realty Investors has a fifty-two week low of $25.67 and a fifty-two week high of $33.83. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.27 and a quick ratio of 1.27.

Weingarten Realty Investors (NYSE:WRI) last posted its earnings results on Wednesday, October 24th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. Weingarten Realty Investors had a net margin of 80.35% and a return on equity of 22.88%. The company had revenue of $125.26 million during the quarter, compared to the consensus estimate of $126.36 million. Research analysts expect that Weingarten Realty Investors will post 2.31 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, December 7th will be issued a $0.395 dividend. The ex-dividend date is Thursday, December 6th. This represents a $1.58 annualized dividend and a dividend yield of 5.45%. Weingarten Realty Investors’s dividend payout ratio is currently 64.49%.

In related news, CFO Stephen C. Richter sold 102,454 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $30.83, for a total transaction of $3,158,656.82. Following the sale, the chief financial officer now directly owns 351,286 shares of the company’s stock, valued at approximately $10,830,147.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Andrew M. Alexander sold 126,730 shares of the company’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $30.71, for a total transaction of $3,891,878.30. Following the sale, the chief executive officer now directly owns 1,263,172 shares in the company, valued at $38,792,012.12. The disclosure for this sale can be found here. Corporate insiders own 7.50% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. American International Group Inc. increased its stake in Weingarten Realty Investors by 0.9% during the 3rd quarter. American International Group Inc. now owns 242,131 shares of the real estate investment trust’s stock worth $7,206,000 after buying an additional 2,263 shares during the period. Bank of New York Mellon Corp increased its position in shares of Weingarten Realty Investors by 0.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,838,402 shares of the real estate investment trust’s stock valued at $84,470,000 after purchasing an additional 10,908 shares during the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Weingarten Realty Investors in the 3rd quarter valued at approximately $443,000. Commonwealth Bank of Australia purchased a new stake in shares of Weingarten Realty Investors in the 3rd quarter valued at approximately $345,000. Finally, Redpoint Investment Management Pty Ltd purchased a new stake in shares of Weingarten Realty Investors in the 3rd quarter valued at approximately $288,000. 77.39% of the stock is currently owned by hedge funds and other institutional investors.

About Weingarten Realty Investors

Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At June 30, 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 190 properties which are located in 17 states spanning the country from coast to coast.

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