Weingarten Realty Investors (NYSE:WRI) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Stockholders of record on Tuesday, September 8th will be paid a dividend of 0.18 per share by the real estate investment trust on Tuesday, September 15th. This represents a $0.72 annualized dividend and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, September 4th.
Weingarten Realty Investors has increased its dividend payment by an average of 8.2% per year over the last three years and has raised its dividend annually for the last 9 consecutive years. Weingarten Realty Investors has a payout ratio of 96.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Weingarten Realty Investors to earn $1.88 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 38.3%.
Shares of NYSE WRI traded down $0.67 during trading on Friday, hitting $16.57. The company had a trading volume of 28,117 shares, compared to its average volume of 1,233,224. The stock has a fifty day simple moving average of $18.32 and a two-hundred day simple moving average of $21.07. Weingarten Realty Investors has a fifty-two week low of $12.21 and a fifty-two week high of $32.17. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 4.37 and a beta of 1.36. The company has a quick ratio of 6.85, a current ratio of 6.85 and a debt-to-equity ratio of 1.19.
A number of research firms recently weighed in on WRI. JPMorgan Chase & Co. boosted their price target on shares of Weingarten Realty Investors from $16.00 to $19.00 and gave the stock an “underweight” rating in a research report on Monday, June 1st. SunTrust Banks lifted their target price on shares of Weingarten Realty Investors from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, June 15th. BTIG Research lifted their target price on shares of Weingarten Realty Investors from $40.00 to $50.00 in a research note on Thursday, June 25th. Zacks Investment Research raised shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, Wells Fargo & Co reduced their target price on shares of Weingarten Realty Investors from $32.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. Weingarten Realty Investors presently has an average rating of “Hold” and a consensus target price of $27.86.
In related news, Director Stephen A. Lasher sold 35,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $23.22, for a total transaction of $812,700.00. Following the sale, the director now directly owns 82,692 shares of the company’s stock, valued at approximately $1,920,108.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.30% of the stock is owned by corporate insiders.
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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