Weingarten Realty Investors (NYSE:WRI) Downgraded by Zacks Investment Research to Sell

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Zacks Investment Research downgraded shares of Weingarten Realty Investors (NYSE:WRI) from a hold rating to a sell rating in a report published on Thursday, Zacks.com reports.

According to Zacks, “Weingarten Realty Investors is focused on delivering solid returns to shareholders by actively developing, acquiring, and intensively managing properties in twenty one states that span the southern portion of the United States from coast to coast. Weingarten’s business activities encompass the long-term ownership, management, acquisition, development and redevelopment of strategically located neighborhood and community shopping centers and select industrial properties. The vast majority of our shopping centers are anchored by either a supermarket or a national value-oriented retailer. These anchors combined with convenient locations, attractive and well-maintained properties and a strong tenant mix help to ensure the long-term success of our merchants and the viability of our portfolio. The Company’s portfolio of Thirf caproperties includes thirty neighborhood and community shopping centers and sixty four industrial properties, aggregating fourty million square feet. “

A number of other research analysts have also recently weighed in on the company. Compass Point started coverage on Weingarten Realty Investors in a research report on Thursday, August 15th. They issued a neutral rating and a $27.50 price target for the company. ValuEngine cut Weingarten Realty Investors from a hold rating to a sell rating in a research note on Thursday, June 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $28.17.

NYSE WRI opened at $27.13 on Thursday. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 2.59 and a beta of 0.65. Weingarten Realty Investors has a twelve month low of $23.80 and a twelve month high of $31.35. The stock has a fifty day simple moving average of $27.49 and a 200 day simple moving average of $28.43. The company has a quick ratio of 2.18, a current ratio of 2.18 and a debt-to-equity ratio of 1.00.

Weingarten Realty Investors (NYSE:WRI) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.12. Weingarten Realty Investors had a return on equity of 13.06% and a net margin of 46.97%. The business had revenue of $119.46 million during the quarter, compared to the consensus estimate of $119.62 million. During the same period in the prior year, the business posted $0.57 earnings per share. Weingarten Realty Investors’s quarterly revenue was down 13.9% on a year-over-year basis. Research analysts expect that Weingarten Realty Investors will post 2.08 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, September 6th will be given a dividend of $0.395 per share. This represents a $1.58 annualized dividend and a dividend yield of 5.82%. The ex-dividend date of this dividend is Thursday, September 5th. Weingarten Realty Investors’s dividend payout ratio is currently 69.30%.

In related news, Director Shelaghmichael C. Brown sold 4,333 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.17, for a total transaction of $117,727.61. Following the transaction, the director now owns 28,218 shares in the company, valued at $766,683.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.40% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in WRI. JPMorgan Chase & Co. raised its stake in shares of Weingarten Realty Investors by 2.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,651,123 shares of the real estate investment trust’s stock worth $126,743,000 after buying an additional 125,127 shares during the last quarter. Invesco Ltd. grew its position in shares of Weingarten Realty Investors by 1.5% during the second quarter. Invesco Ltd. now owns 4,305,224 shares of the real estate investment trust’s stock worth $118,049,000 after acquiring an additional 63,233 shares during the last quarter. Northern Trust Corp grew its position in shares of Weingarten Realty Investors by 0.5% during the second quarter. Northern Trust Corp now owns 2,358,011 shares of the real estate investment trust’s stock worth $64,657,000 after acquiring an additional 11,419 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Weingarten Realty Investors by 1.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,998,739 shares of the real estate investment trust’s stock worth $54,806,000 after acquiring an additional 32,029 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Weingarten Realty Investors by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 1,613,004 shares of the real estate investment trust’s stock worth $40,018,000 after acquiring an additional 79,041 shares during the last quarter. Institutional investors own 80.53% 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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