IndexIQ Advisors LLC Takes $191,000 Position in Weingarten Realty Investors (NYSE:WRI)

IndexIQ Advisors LLC acquired a new position in shares of Weingarten Realty Investors (NYSE:WRI) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 13,249 shares of the real estate investment trust’s stock, valued at approximately $191,000.

Other large investors have also recently bought and sold shares of the company. TRUE Private Wealth Advisors acquired a new stake in Weingarten Realty Investors in the fourth quarter valued at approximately $34,000. Engrave Wealth Partners LLC purchased a new stake in shares of Weingarten Realty Investors during the 4th quarter valued at $34,000. Whittier Trust Co. acquired a new stake in shares of Weingarten Realty Investors in the 1st quarter worth $42,000. Smithfield Trust Co. grew its stake in Weingarten Realty Investors by 27.2% during the 1st quarter. Smithfield Trust Co. now owns 3,180 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 680 shares during the last quarter. Finally, Advisory Services Network LLC increased its position in Weingarten Realty Investors by 37.5% during the 4th quarter. Advisory Services Network LLC now owns 2,055 shares of the real estate investment trust’s stock valued at $64,000 after buying an additional 560 shares in the last quarter. 81.65% of the stock is owned by institutional investors.

Shares of NYSE WRI opened at $17.76 on Friday. The company has a 50 day simple moving average of $15.81 and a two-hundred day simple moving average of $25.40. The stock has a market cap of $2.28 billion, a price-to-earnings ratio of 7.22, a PEG ratio of 3.83 and a beta of 1.38. The company has a current ratio of 6.85, a quick ratio of 6.85 and a debt-to-equity ratio of 1.19. Weingarten Realty Investors has a 12 month low of $12.21 and a 12 month high of $32.17.

Weingarten Realty Investors (NYSE:WRI) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.10). Weingarten Realty Investors had a return on equity of 17.23% and a net margin of 67.05%. The business had revenue of $108.05 million for the quarter, compared to analysts’ expectations of $116.94 million. During the same period last year, the business earned $0.52 EPS. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. Analysts forecast that Weingarten Realty Investors will post 1.94 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.72 annualized dividend and a dividend yield of 4.05%. Weingarten Realty Investors’s dividend payout ratio (DPR) is presently 75.24%.

In related news, Director Stephen A. Lasher bought 10,000 shares of the stock in a transaction dated Wednesday, March 11th. The shares were purchased at an average price of $22.89 per share, for a total transaction of $228,900.00. Following the completion of the purchase, the director now directly owns 117,692 shares of the company’s stock, valued at $2,693,969.88. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 6.30% of the company’s stock.

A number of brokerages have recently weighed in on WRI. BTIG Research dropped their price target on Weingarten Realty Investors from $32.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. SunTrust Banks dropped their target price on shares of Weingarten Realty Investors from $31.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Zacks Investment Research raised shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Citigroup downgraded shares of Weingarten Realty Investors from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $14.50 in a research note on Tuesday, April 7th. Finally, Wells Fargo & Co cut their target price on Weingarten Realty Investors from $32.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. Weingarten Realty Investors currently has an average rating of “Hold” and a consensus price target of $22.21.

Weingarten Realty Investors 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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Institutional Ownership by Quarter for Weingarten Realty Investors (NYSE:WRI)

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