Weingarten Realty Investors (WRI) is Downgraded by Citigroup to Neutral

Weingarten Realty Investors (WRI) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on Apr 27, 2016.

On the company’s financial health, Weingarten Realty Investors reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.56. The company had revenue of $132.42 million for the quarter, compared to analysts expectations of $128.00 million. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 EPS.

Weingarten Realty Investors opened for trading at $36.91 and hit $37.52 on the upside on Friday, eventually ending the session at $37.29, with a gain of 1.75% or 0.64 points. The heightened volatility saw the trading volume jump to 7,42,625 shares. Company has a market cap of $4,622 M.

In a different news, on Mar 11, 2016, Stephen C Richter (EXEC VP/CFO) sold 13,745 shares at $36.08 per share price. According to the SEC, on Mar 9, 2016, Andrew M Alexander (CEO/PRESIDENT) sold 84,900 shares at $36.00 per share price. On Feb 24, 2016, Melvin A Dow (director) sold 4,243 shares at $35.19 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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