$126.36 Million in Sales Expected for Weingarten Realty Investors (WRI) This Quarter

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Wall Street brokerages predict that Weingarten Realty Investors (NYSE:WRI) will announce $126.36 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Weingarten Realty Investors’ earnings, with the lowest sales estimate coming in at $125.30 million and the highest estimate coming in at $127.72 million. Weingarten Realty Investors posted sales of $141.06 million during the same quarter last year, which suggests a negative year over year growth rate of 10.4%. The business is expected to announce its next earnings results after the market closes on Wednesday, October 24th.

According to Zacks, analysts expect that Weingarten Realty Investors will report full-year sales of $520.51 million for the current fiscal year, with estimates ranging from $517.20 million to $523.36 million. For the next fiscal year, analysts anticipate that the business will report sales of $512.56 million, with estimates ranging from $501.50 million to $529.32 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Weingarten Realty Investors.

Weingarten Realty Investors (NYSE:WRI) last posted its earnings results on Monday, July 30th. The real estate investment trust reported $0.57 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate 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 firm earned $0.61 EPS. The company’s quarterly revenue was down 3.1% compared to the same quarter last year.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. TheStreet upgraded shares of Weingarten Realty Investors from a “c+” rating to a “b-” rating in a research note on Monday, June 25th. ValuEngine lowered shares of Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. BTIG Research assumed coverage on shares of Weingarten Realty Investors in a research note on Wednesday, August 1st. They set a “buy” rating and a $34.00 price target for the company. Finally, Jefferies Financial Group set a $30.00 price target on shares of Weingarten Realty Investors and gave the stock a “hold” rating in a research note on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $31.14.

In related news, CFO Stephen C. Richter sold 102,454 shares of Weingarten Realty Investors stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $30.83, for a total value of $3,158,656.82. Following the completion of the transaction, the chief financial officer now directly owns 351,286 shares in the company, valued at approximately $10,830,147.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Andrew M. Alexander sold 126,730 shares of Weingarten Realty Investors stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $30.71, for a total transaction of $3,891,878.30. Following the completion of the transaction, the chief executive officer now owns 1,263,172 shares of the company’s stock, valued at $38,792,012.12. The disclosure for this sale can be found here. Company insiders own 7.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio grew its stake in Weingarten Realty Investors by 5.4% in the 3rd quarter. Strs Ohio now owns 179,308 shares of the real estate investment trust’s stock valued at $5,336,000 after buying an additional 9,200 shares in the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI grew its stake in Weingarten Realty Investors by 1.5% in the 3rd quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 253,235 shares of the real estate investment trust’s stock valued at $7,536,000 after buying an additional 3,625 shares in the last quarter. Oakbrook Investments LLC purchased a new position in Weingarten Realty Investors in the 3rd quarter valued at approximately $225,000. Callahan Advisors LLC grew its stake in Weingarten Realty Investors by 3.5% in the 3rd quarter. Callahan Advisors LLC now owns 132,384 shares of the real estate investment trust’s stock valued at $3,940,000 after buying an additional 4,440 shares in the last quarter. Finally, Old Port Advisors purchased a new position in Weingarten Realty Investors in the 2nd quarter valued at approximately $2,273,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Shares of WRI stock traded up $0.29 during trading hours on Friday, hitting $27.95. 685,870 shares of the company were exchanged, compared to its average volume of 737,121. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.95. Weingarten Realty Investors has a 52-week low of $25.67 and a 52-week high of $33.83. The firm has a market cap of $3.55 billion, a P/E ratio of 11.35, a PEG ratio of 2.90 and a beta of 0.47.

Weingarten Realty Investors Company Profile

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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Earnings History and Estimates for Weingarten Realty Investors (NYSE:WRI)

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