Zacks: Brokerages Expect Weingarten Realty Investors (WRI) Will Announce Quarterly Sales of $126.36 Million
Equities research analysts expect that Weingarten Realty Investors (NYSE:WRI) will post $126.36 million in sales for the current fiscal quarter, according to Zacks. Five analysts have provided 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 reported sales of $141.06 million in the same quarter last year, which indicates a negative year-over-year growth rate of 10.4%. The business is scheduled to announce its next earnings report after the market closes on Wednesday, October 24th.
On average, analysts expect that Weingarten Realty Investors will report full-year sales of $520.51 million for the current financial year, with estimates ranging from $517.20 million to $523.36 million. For the next financial year, analysts anticipate that the company will post sales of $512.56 million, with estimates ranging from $501.50 million to $529.32 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Weingarten Realty Investors.
Weingarten Realty Investors (NYSE:WRI) last posted its quarterly earnings results on Monday, July 30th. The real estate investment trust reported $0.57 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.57. Weingarten Realty Investors had a return on equity of 24.90% and a net margin of 83.46%. The company had revenue of $138.50 million for the quarter, compared to analysts’ expectations of $128.13 million. During the same period last year, the firm earned $0.61 earnings per share. Weingarten Realty Investors’s quarterly revenue was down 3.1% on a year-over-year basis.
In other news, CEO Andrew M. Alexander sold 126,730 shares of Weingarten Realty Investors stock in a transaction dated 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 sale, the chief executive officer now owns 1,263,172 shares in the company, valued at $38,792,012.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen C. Richter sold 102,454 shares of Weingarten Realty Investors stock in a transaction dated 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 sale, 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 currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. V3 Capital Management L.P. acquired a new stake in shares of Weingarten Realty Investors during the second quarter worth about $3,438,000. Old Port Advisors acquired a new stake in shares of Weingarten Realty Investors during the second quarter worth about $2,273,000. BNP Paribas Arbitrage SA increased its position in shares of Weingarten Realty Investors by 27.9% during the second quarter. BNP Paribas Arbitrage SA now owns 38,872 shares of the real estate investment trust’s stock worth $1,198,000 after purchasing an additional 8,473 shares in the last quarter. Hermes Investment Management Ltd. increased its position in shares of Weingarten Realty Investors by 1.5% during the second quarter. Hermes Investment Management Ltd. now owns 1,194,890 shares of the real estate investment trust’s stock worth $36,815,000 after purchasing an additional 17,836 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Weingarten Realty Investors by 4.1% during the second quarter. Northern Trust Corp now owns 2,146,427 shares of the real estate investment trust’s stock worth $66,131,000 after purchasing an additional 84,806 shares in the last quarter. Institutional investors and hedge funds own 77.48% of the company’s stock.
Weingarten Realty Investors stock opened at $27.42 on Friday. Weingarten Realty Investors has a 1-year low of $25.67 and a 1-year high of $33.83. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 11.19, a price-to-earnings-growth ratio of 2.99 and a beta of 0.47.
The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, September 7th were given a dividend of $0.395 per share. This represents a $1.58 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date of this dividend was Thursday, September 6th. Weingarten Realty Investors’s dividend payout ratio (DPR) is currently 64.49%.
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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