Weingarten Realty Investors (NYSE:WRI) Raised to “Hold” at Zacks Investment Research

Weingarten Realty Investors (NYSE:WRI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

According to Zacks, “Weingarten Realty Investors is focused on delivering solid returns to shareholders by actively developing, acquiring, and intensively managing properties in twenty one states that span the southern portion of the United States from coast to coast. Weingarten’s business activities encompass the long-term ownership, management, acquisition, development and redevelopment of strategically located neighborhood and community shopping centers and select industrial properties. The vast majority of our shopping centers are anchored by either a supermarket or a national value-oriented retailer. These anchors combined with convenient locations, attractive and well-maintained properties and a strong tenant mix help to ensure the long-term success of our merchants and the viability of our portfolio. The Company’s portfolio of Thirf caproperties includes thirty neighborhood and community shopping centers and sixty four industrial properties, aggregating fourty million square feet. “

Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. Compass Point assumed coverage on Weingarten Realty Investors in a research note on Thursday, August 15th. They issued a “neutral” rating and a $27.50 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $28.17.

Shares of NYSE WRI traded up $0.06 during trading hours on Friday, hitting $28.64. The stock had a trading volume of 24,654 shares, compared to its average volume of 963,513. The company has a market capitalization of $3.69 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.70 and a beta of 0.65. The firm’s 50-day moving average price is $27.32 and its two-hundred day moving average price is $28.14. Weingarten Realty Investors has a 52 week low of $23.80 and a 52 week high of $30.05. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.18 and a current ratio of 2.18.

Weingarten Realty Investors (NYSE:WRI) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.12. The business had revenue of $119.46 million during the quarter, compared to analysts’ expectations of $119.62 million. Weingarten Realty Investors had a return on equity of 13.06% and a net margin of 46.97%. The firm’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. As a group, analysts expect that Weingarten Realty Investors will post 2.09 EPS for the current fiscal year.

In related news, Director Shelaghmichael C. Brown sold 4,333 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.17, for a total value of $117,727.61. Following the completion of the sale, the director now directly owns 28,218 shares in the company, valued at approximately $766,683.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of WRI. NEXT Financial Group Inc acquired a new position in shares of Weingarten Realty Investors during the second quarter worth approximately $37,000. Advisory Services Network LLC lifted its holdings in shares of Weingarten Realty Investors by 32.9% during the second quarter. Advisory Services Network LLC now owns 1,495 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 370 shares during the last quarter. Machina Capital S.A.S. acquired a new position in shares of Weingarten Realty Investors during the second quarter worth approximately $161,000. Cigna Investments Inc. New acquired a new position in shares of Weingarten Realty Investors during the first quarter worth approximately $202,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Weingarten Realty Investors during the first quarter worth approximately $253,000. Hedge funds and other institutional investors own 77.68% of the company’s stock.

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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