Weingarten Realty Investors (NYSE:WRI) Price Target Cut to $34.00 by Analysts at J P Morgan Chase & Co

Weingarten Realty Investors (NYSE:WRI) had its target price trimmed by J P Morgan Chase & Co from $35.00 to $34.00 in a research note released on Monday, October 30th. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Other research analysts have also recently issued research reports about the company. TheStreet upgraded Weingarten Realty Investors from a c+ rating to a b- rating in a research report on Tuesday, August 8th. BidaskClub raised Weingarten Realty Investors from a hold rating to a buy rating in a research note on Wednesday, August 2nd. Robert W. Baird reaffirmed a buy rating and issued a $37.00 price objective on shares of Weingarten Realty Investors in a research note on Thursday, August 24th. Zacks Investment Research raised Weingarten Realty Investors from a sell rating to a hold rating in a research note on Saturday, July 29th. Finally, Jefferies Group LLC reissued a hold rating and set a $32.00 price target on shares of Weingarten Realty Investors in a research note on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $33.25.

Shares of Weingarten Realty Investors (WRI) traded down $0.02 during trading on Monday, hitting $32.69. The stock had a trading volume of 733,600 shares, compared to its average volume of 872,004. Weingarten Realty Investors has a one year low of $29.03 and a one year high of $36.82. The company has a market cap of $4,200.90, a PE ratio of 13.41, a P/E/G ratio of 3.21 and a beta of 0.68. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.24.

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

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 8th will be given a $0.385 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.54 annualized dividend and a yield of 4.71%. Weingarten Realty Investors’s dividend payout ratio is currently 94.48%.

Several large investors have recently added to or reduced their stakes in WRI. Neuberger Berman Group LLC raised its stake in shares of Weingarten Realty Investors by 15.1% during the 1st quarter. Neuberger Berman Group LLC now owns 7,626 shares of the real estate investment trust’s stock valued at $255,000 after purchasing an additional 1,002 shares during the period. PNC Financial Services Group Inc. increased its stake in Weingarten Realty Investors by 2.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,557 shares of the real estate investment trust’s stock worth $218,000 after acquiring an additional 127 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Weingarten Realty Investors by 0.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,645,166 shares of the real estate investment trust’s stock worth $54,931,000 after purchasing an additional 10,141 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Weingarten Realty Investors by 215.6% in the 1st quarter. Renaissance Technologies LLC now owns 185,232 shares of the real estate investment trust’s stock worth $6,185,000 after purchasing an additional 126,532 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of Weingarten Realty Investors by 3.0% in the 1st quarter. Amalgamated Bank now owns 18,478 shares of the real estate investment trust’s stock worth $617,000 after purchasing an additional 544 shares in the last quarter. Institutional investors own 80.27% of the company’s stock.

About Weingarten Realty Investors

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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