BTIG Research Lowers Weingarten Realty Investors (NYSE:WRI) Price Target to $19.00

Weingarten Realty Investors (NYSE:WRI) had its price objective cut by research analysts at BTIG Research from $32.00 to $19.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the real estate investment trust’s stock. BTIG Research’s price target would indicate a potential upside of 28.29% from the stock’s current price.

Several other research firms have also recently weighed in on WRI. ValuEngine upgraded shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research report on Friday, March 13th. Citigroup upgraded shares of Weingarten Realty Investors from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $35.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on shares of Weingarten Realty Investors from $31.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, March 12th. Compass Point cut shares of Weingarten Realty Investors from a “buy” rating to a “neutral” rating and set a $32.00 price objective for the company. in a research report on Friday, December 27th. Finally, Zacks Investment Research upgraded shares of Weingarten Realty Investors from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.17.

Shares of NYSE:WRI traded down $0.97 during trading on Wednesday, reaching $14.81. The stock had a trading volume of 1,630,876 shares, compared to its average volume of 1,779,582. Weingarten Realty Investors has a 52 week low of $12.61 and a 52 week high of $32.17. The business’s 50-day moving average price is $25.21 and its 200 day moving average price is $28.96. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $2.04 billion, a PE ratio of 6.07, a P/E/G ratio of 3.27 and a beta of 0.74.

Weingarten Realty Investors (NYSE:WRI) last posted its earnings results on Tuesday, February 25th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. Weingarten Realty Investors had a net margin of 64.82% and a return on equity of 17.32%. The company had revenue of $119.47 million during the quarter, compared to analysts’ expectations of $118.83 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. Weingarten Realty Investors’s quarterly revenue was down 6.5% compared to the same quarter last year. Analysts forecast that Weingarten Realty Investors will post 2.05 EPS for the current year.

In other Weingarten Realty Investors news, Director Stephen A. Lasher bought 10,000 shares of the stock in a transaction on Wednesday, March 11th. The stock was purchased at an average price of $22.89 per share, with a total value of $228,900.00. Following the acquisition, the director now owns 117,692 shares of the company’s stock, valued at $2,693,969.88. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 6.30% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Weingarten Realty Investors by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 2,139,408 shares of the real estate investment trust’s stock worth $66,828,000 after acquiring an additional 54,658 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Weingarten Realty Investors by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,136,092 shares of the real estate investment trust’s stock worth $66,732,000 after acquiring an additional 41,923 shares during the period. FMR LLC grew its holdings in Weingarten Realty Investors by 3,051.7% during the 4th quarter. FMR LLC now owns 1,542,297 shares of the real estate investment trust’s stock worth $48,181,000 after acquiring an additional 1,493,362 shares during the period. Renaissance Technologies LLC grew its holdings in Weingarten Realty Investors by 97.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,419,900 shares of the real estate investment trust’s stock worth $44,358,000 after acquiring an additional 699,377 shares during the period. Finally, Norges Bank acquired a new stake in Weingarten Realty Investors during the 4th quarter worth $43,978,000. 80.40% of the stock is owned by hedge funds and other institutional investors.

About Weingarten Realty Investors

Weingarten Realty Investors (NYSE: WRI) is a shopping center owner, manager and developer. At March 31, 2019, 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 177 properties which are located in 17 states spanning the country from coast to coast.

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Analyst Recommendations for Weingarten Realty Investors (NYSE:WRI)

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