Weingarten Realty Investors (WRI) Given a $33.00 Price Target at Jefferies Group

Jefferies Group set a $33.00 price objective on Weingarten Realty Investors (NYSE:WRI) in a report released on Friday morning. The brokerage currently has a hold rating on the real estate investment trust’s stock. Jefferies Group also issued estimates for Weingarten Realty Investors’ FY2017 earnings at $2.44 EPS and FY2019 earnings at $2.54 EPS.

A number of other analysts have also commented on WRI. Boenning Scattergood raised Weingarten Realty Investors from an under perform rating to a neutral rating in a research note on Thursday. J P Morgan Chase & Co decreased their price objective on Weingarten Realty Investors from $35.00 to $34.00 and set a neutral rating on the stock in a research note on Monday, October 30th. Finally, Robert W. Baird reaffirmed a buy rating and set a $37.00 price objective on shares of Weingarten Realty Investors in a research note on Thursday, August 24th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $33.50.

Weingarten Realty Investors (WRI) traded up $0.28 on Friday, hitting $33.37. The company had a trading volume of 1,522,483 shares, compared to its average volume of 612,180. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $4,249.70, a price-to-earnings ratio of 13.56, a P/E/G ratio of 3.41 and a beta of 0.71. Weingarten Realty Investors has a fifty-two week low of $29.03 and a fifty-two week high of $36.82.

Weingarten Realty Investors (NYSE:WRI) last posted its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $141.06 million for the quarter, compared to analyst estimates of $139.72 million. Weingarten Realty Investors had a return on equity of 12.07% and a net margin of 36.86%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 earnings per share. research analysts forecast that Weingarten Realty Investors will post 2.43 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Tuesday, December 26th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 22nd. This is an increase from Weingarten Realty Investors’s previous quarterly dividend of $0.39. This represents a $3.00 annualized dividend and a yield of 8.99%. Weingarten Realty Investors’s dividend payout ratio is 94.48%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WRI. Canada Pension Plan Investment Board lifted its position in Weingarten Realty Investors by 46.3% during the second quarter. Canada Pension Plan Investment Board now owns 36,000 shares of the real estate investment trust’s stock worth $1,084,000 after buying an additional 11,400 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Weingarten Realty Investors by 10.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,107,509 shares of the real estate investment trust’s stock worth $33,337,000 after buying an additional 106,378 shares during the period. Arizona State Retirement System lifted its position in Weingarten Realty Investors by 1.6% during the second quarter. Arizona State Retirement System now owns 49,800 shares of the real estate investment trust’s stock worth $1,499,000 after buying an additional 800 shares during the period. Advisors Asset Management Inc. lifted its position in Weingarten Realty Investors by 7.1% during the second quarter. Advisors Asset Management Inc. now owns 15,877 shares of the real estate investment trust’s stock worth $478,000 after buying an additional 1,052 shares during the period. Finally, State of Wisconsin Investment Board lifted its position in Weingarten Realty Investors by 2.8% during the second quarter. State of Wisconsin Investment Board now owns 23,919 shares of the real estate investment trust’s stock worth $720,000 after buying an additional 660 shares during the period. Hedge funds and other institutional investors own 79.17% of the company’s stock.

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Weingarten Realty Investors Company Profile

Weingarten Realty Investors is a real estate investment trust (REIT). The Company’s primary business is leasing space to tenants in the shopping centers it owns or leases. The Company also provides property management services. The Company is in the business of owning, managing and developing retail shopping centers.

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