Weingarten Realty Investors (WRI) Releases Earnings Results, Beats Expectations By $0.01 EPS

Weingarten Realty Investors (WRI) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.57 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.56. The company posted revenue of $132.81 million in the period, compared to analysts expectations of $129.52 million. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.

Many Wall Street Analysts have commented on Weingarten Realty Investors. Company shares were Upgraded by UBS on Jul 1, 2016 to ” Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $36 .Weingarten Realty Investors was Initiated by Jefferies to “Hold” on Jun 30, 2016.

Weingarten Realty Investors opened for trading at $41.87 and hit $42.91 on the upside on Thursday, eventually ending the session at $42.67, with a gain of 1.69% or 0.71 points. The heightened volatility saw the trading volume jump to 5,22,104 shares. Company has a market cap of $5,354 M.

In a different news, on Apr 28, 2016, Johnny Hendrix (Executive VP/COO) sold 69,303 shares at $37.78 per share price. According to the SEC, on Mar 11, 2016, Stephen C Richter (EXEC VP/CFO) sold 13,745 shares at $36.08 per share price. On Mar 9, 2016, Andrew M Alexander (CEO/PRESIDENT) sold 84,900 shares at $36.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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. It is engaged in the business of owning managing and developing shopping centers and other commercial centers. The Company also provides property management services. The Company’s properties consist primarily of neighborhood and community shopping centers. As of December 31 2014 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 234 developed income-producing properties and three properties under various stages of construction and development. The portfolio of properties contains approximately 45.3 million square feet of gross leasable area that is either owned by the Company or others. It also owned interests in 34 parcels of land held for development that totaled approximately 25.3 million square feet.

Weingarten Realty Investors

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