Zacks: Brokerages Anticipate Weingarten Realty Investors (WRI) Will Announce Quarterly Sales of $126.36 Million

Brokerages expect Weingarten Realty Investors (NYSE:WRI) to announce sales of $126.36 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Weingarten Realty Investors’ earnings, with the highest sales estimate coming in at $127.72 million and the lowest estimate coming in at $125.30 million. Weingarten Realty Investors posted sales of $141.06 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 10.4%. The company is scheduled to report 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 financial year, analysts forecast that the business will post sales of $512.56 million, with estimates ranging from $501.50 million to $529.32 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Weingarten Realty Investors.

Weingarten Realty Investors (NYSE:WRI) last issued its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $128.13 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis.

A number of equities research analysts have recently issued reports on the company. TheStreet upgraded Weingarten Realty Investors from a “c+” rating to a “b-” rating in a report on Monday, June 25th. ValuEngine upgraded Weingarten Realty Investors from a “sell” rating to a “hold” rating in a report on Thursday, June 21st. Zacks Investment Research upgraded Weingarten Realty Investors from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Jefferies Financial Group set a $30.00 price objective on Weingarten Realty Investors and gave the stock a “hold” rating in a report on Wednesday, August 15th. Finally, JPMorgan Chase & Co. boosted their price objective on Weingarten Realty Investors from $29.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $31.14.

In other Weingarten Realty Investors news, CFO Stephen C. Richter sold 102,454 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $30.83, for a total transaction 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 $10,830,147.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Andrew M. Alexander sold 126,730 shares of the business’s 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 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. 7.50% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Qube Research & Technologies Ltd bought a new stake in Weingarten Realty Investors during the second quarter worth about $129,000. Strategic Advisors LLC purchased a new position in shares of Weingarten Realty Investors during the second quarter valued at approximately $202,000. Founders Capital Management purchased a new position in shares of Weingarten Realty Investors during the second quarter valued at approximately $207,000. Cadence Capital Management LLC purchased a new position in shares of Weingarten Realty Investors during the second quarter valued at approximately $207,000. Finally, CIBC Asset Management Inc purchased a new position in shares of Weingarten Realty Investors during the second quarter valued at approximately $212,000. Institutional investors and hedge funds own 77.48% of the company’s stock.

Shares of NYSE:WRI traded down $0.11 during trading on Friday, reaching $27.74. 33,412 shares of the stock were exchanged, compared to its average volume of 739,521. Weingarten Realty Investors has a 12 month low of $25.67 and a 12 month high of $33.83. The stock has a market cap of $3.81 billion, a PE ratio of 11.34, a P/E/G ratio of 2.99 and a beta of 0.47. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.95.

About Weingarten Realty Investors

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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