Brokerages Expect Weingarten Realty Investors (WRI) to Post $0.58 Earnings Per Share
Wall Street brokerages expect Weingarten Realty Investors (NYSE:WRI) to announce earnings per share of $0.58 for the current quarter, according to Zacks. Five analysts have made estimates for Weingarten Realty Investors’ earnings. The highest EPS estimate is $0.58 and the lowest is $0.57. Weingarten Realty Investors reported earnings per share of $0.61 during the same quarter last year, which would suggest a negative year over year growth rate of 4.9%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, October 24th.
On average, analysts expect that Weingarten Realty Investors will report full-year earnings of $2.31 per share for the current financial year, with EPS estimates ranging from $2.29 to $2.33. For the next year, analysts expect that the business will report earnings of $2.33 per share, with EPS estimates ranging from $2.23 to $2.41. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Weingarten Realty Investors.
Weingarten Realty Investors (NYSE:WRI) last released its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. Weingarten Realty Investors had a net margin of 83.46% and a return on equity of 24.90%. The firm had revenue of $138.50 million for the quarter, compared to analysts’ expectations of $128.13 million. During the same quarter last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year.
WRI traded down $0.32 on Friday, hitting $30.28. 482,101 shares of the company’s stock were exchanged, compared to its average volume of 637,538. 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 quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.95. The stock has a market cap of $3.92 billion, a PE ratio of 12.36, a price-to-earnings-growth ratio of 3.20 and a beta of 0.47.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, September 7th will be paid a dividend of $0.395 per share. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $1.58 annualized dividend and a yield of 5.22%. Weingarten Realty Investors’s dividend payout ratio (DPR) is presently 64.49%.
In other news, CEO Andrew M. Alexander sold 126,730 shares of Weingarten Realty Investors stock in a transaction 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 transaction, the chief executive officer now owns 1,263,172 shares in the company, valued at approximately $38,792,012.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen C. Richter sold 102,454 shares of Weingarten Realty Investors stock in a transaction on Friday, August 17th. The stock was sold at an average price of $30.83, for a total value of $3,158,656.82. Following the transaction, the chief financial officer now owns 351,286 shares in the company, valued at approximately $10,830,147.38. The disclosure for this sale can be found here. 7.50% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of Weingarten Realty Investors by 27.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,827,494 shares of the real estate investment trust’s stock worth $87,116,000 after acquiring an additional 606,540 shares during the period. Verition Fund Management LLC raised its holdings in shares of Weingarten Realty Investors by 180.2% during the 2nd quarter. Verition Fund Management LLC now owns 22,357 shares of the real estate investment trust’s stock worth $689,000 after acquiring an additional 14,379 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Weingarten Realty Investors by 74.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 32,584 shares of the real estate investment trust’s stock worth $505,000 after acquiring an additional 13,911 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Weingarten Realty Investors during the 2nd quarter worth $129,000. Finally, V3 Capital Management L.P. purchased a new stake in Weingarten Realty Investors in the 2nd quarter valued at about $3,438,000. Institutional investors and hedge funds own 77.41% of the company’s stock.
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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