Boenning Scattergood Reiterates “$30.00” Price Target for Weingarten Realty Investors (WRI)

Weingarten Realty Investors (NYSE:WRI) received a $30.00 price objective from stock analysts at Boenning Scattergood in a report issued on Thursday, October 26th. The firm currently has a “sell” rating on the real estate investment trust’s stock. Boenning Scattergood’s target price points to a potential downside of 8.28% from the company’s current price. Boenning Scattergood also issued estimates for Weingarten Realty Investors’ FY2017 earnings at $2.44 EPS, Q4 2018 earnings at $0.62 EPS and FY2018 earnings at $2.46 EPS.

Several other brokerages have also recently issued reports on WRI. J P Morgan Chase & Co reissued a “neutral” rating and issued a $35.00 target price (down from $37.00) on shares of Weingarten Realty Investors in a research report on Wednesday, August 9th. BidaskClub raised Weingarten Realty Investors from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “hold” rating and set a $32.00 price objective on shares of Weingarten Realty Investors in a research report on Tuesday, August 29th. Zacks Investment Research raised Weingarten Realty Investors from a “sell” rating to a “hold” rating in a report on Saturday, July 29th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $33.25.

Shares of Weingarten Realty Investors (WRI) traded up $0.18 during mid-day trading on Thursday, reaching $32.71. The company had a trading volume of 615,900 shares, compared to its average volume of 763,223. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market capitalization of $4,200.91, a price-to-earnings ratio of 13.41, a price-to-earnings-growth ratio of 3.21 and a beta of 0.68. Weingarten Realty Investors has a 12 month low of $29.03 and a 12 month high of $36.82.

Weingarten Realty Investors (NYSE:WRI) last announced its quarterly earnings data on Tuesday, October 24th. The real estate investment trust reported $0.61 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $139.72 million. During the same quarter last year, the firm posted $0.58 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. research analysts predict that Weingarten Realty Investors will post 2.43 EPS for the current year.

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Several hedge funds have recently modified their holdings of WRI. Schwab Charles Investment Management Inc. lifted its stake in shares of Weingarten Realty Investors by 10.6% during the 2nd 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 purchasing an additional 106,378 shares during the last quarter. Legal & General Group Plc increased its position in Weingarten Realty Investors by 8.5% during the 2nd quarter. Legal & General Group Plc now owns 773,142 shares of the real estate investment trust’s stock valued at $23,272,000 after buying an additional 60,881 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of Weingarten Realty Investors by 37.5% in the second quarter. BNP Paribas Arbitrage SA now owns 92,739 shares of the real estate investment trust’s stock valued at $2,791,000 after purchasing an additional 25,297 shares during the period. Founders Capital Management increased its holdings in shares of Weingarten Realty Investors by 15.7% in the second quarter. Founders Capital Management now owns 4,863 shares of the real estate investment trust’s stock valued at $146,000 after purchasing an additional 660 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Weingarten Realty Investors by 1.7% in the second quarter. Northern Trust Corp now owns 1,931,464 shares of the real estate investment trust’s stock valued at $58,138,000 after purchasing an additional 32,085 shares during the period. Institutional investors and hedge funds own 79.92% of the company’s stock.

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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