Weingarten Realty Investors (NYSE:WRI) declared a quarterly dividend on Thursday, October 25th, Wall Street Journal reports. Shareholders of record on Friday, December 7th will be paid a dividend of 0.395 per share by the real estate investment trust on Friday, December 14th. This represents a $1.58 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date is Thursday, December 6th.
Weingarten Realty Investors has increased its dividend by an average of 5.8% per year over the last three years and has increased its dividend every year for the last 8 years. Weingarten Realty Investors has a dividend payout ratio of 68.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Weingarten Realty Investors to earn $2.29 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 69.0%.
Shares of Weingarten Realty Investors stock opened at $28.21 on Wednesday. Weingarten Realty Investors has a 12 month low of $25.67 and a 12 month high of $33.83. The company has a market cap of $3.70 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 2.77 and a beta of 0.51. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.93.
WRI has been the subject of a number of research analyst reports. Zacks Investment Research raised Weingarten Realty Investors from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Scotiabank initiated coverage on Weingarten Realty Investors in a report on Tuesday, October 16th. They set a “sector perform” rating for the company. Wells Fargo & Co increased their target price on Weingarten Realty Investors from $27.00 to $30.00 and gave the company a “market perform” rating in a report on Thursday, August 9th. Citigroup set a $29.00 target price on Weingarten Realty Investors and gave the company a “hold” rating in a report on Tuesday, November 20th. Finally, Jefferies Financial Group set a $30.00 target price on Weingarten Realty Investors and gave the company a “hold” rating in a report on Wednesday, August 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Weingarten Realty Investors currently has an average rating of “Hold” and a consensus target price of $31.17.
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About Weingarten Realty Investors
Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At September 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 185 properties which are located in 17 states spanning the country from coast to coast.
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