IndexIQ Advisors LLC acquired a new stake in Weingarten Realty Investors (NYSE:WRI) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,249 shares of the real estate investment trust’s stock, valued at approximately $191,000.
Other hedge funds have also recently bought and sold shares of the company. TRUE Private Wealth Advisors acquired a new position in Weingarten Realty Investors during the 4th quarter worth about $34,000. Engrave Wealth Partners LLC acquired a new position in Weingarten Realty Investors in the 4th quarter valued at about $34,000. Whittier Trust Co. purchased a new stake in Weingarten Realty Investors during the first quarter worth about $42,000. Smithfield Trust Co. lifted its position in shares of Weingarten Realty Investors by 27.2% during the first quarter. Smithfield Trust Co. now owns 3,180 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 680 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in shares of Weingarten Realty Investors by 37.5% in the fourth quarter. Advisory Services Network LLC now owns 2,055 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 560 shares during the period. Hedge funds and other institutional investors own 81.65% of the company’s stock.
WRI has been the topic of a number of research reports. 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 report on Wednesday, April 15th. Citigroup cut Weingarten Realty Investors from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $36.00 to $14.50 in a research note on Tuesday, April 7th. Zacks Investment Research raised Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. JPMorgan Chase & Co. downgraded Weingarten Realty Investors from a “neutral” rating to an “underweight” rating and set a $16.00 price target on the stock. in a report on Wednesday, April 22nd. Finally, SunTrust Banks decreased their price objective on Weingarten Realty Investors from $31.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. Weingarten Realty Investors has a consensus rating of “Hold” and a consensus price target of $22.21.
Shares of WRI opened at $17.76 on Friday. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of 7.22, a price-to-earnings-growth ratio of 3.83 and a beta of 1.38. Weingarten Realty Investors has a 52-week low of $12.21 and a 52-week high of $32.17. The company has a quick ratio of 6.85, a current ratio of 6.85 and a debt-to-equity ratio of 1.19. The stock has a 50 day moving average price of $15.81 and a 200 day moving average price of $25.40.
Weingarten Realty Investors (NYSE:WRI) last issued its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $108.05 million for the quarter, compared to analysts’ expectations of $116.94 million. Weingarten Realty Investors had a return on equity of 17.23% and a net margin of 67.05%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. On average, equities analysts anticipate that Weingarten Realty Investors will post 1.94 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.72 annualized dividend and a yield of 4.05%. Weingarten Realty Investors’s dividend payout ratio is presently 75.24%.
In other news, Director Stephen A. Lasher bought 10,000 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average price of $22.89 per share, for a total transaction of $228,900.00. Following the completion of the transaction, the director now 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 is available through this hyperlink. Corporate insiders own 6.30% of the company’s stock.
About Weingarten Realty Investors
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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