Weingarten Realty Investors (WRI) Stake Reduced by Nuveen Asset Management LLC

Nuveen Asset Management LLC cut its stake in shares of Weingarten Realty Investors (NYSE:WRI) by 94.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,150 shares of the real estate investment trust’s stock after selling 582,632 shares during the period. Nuveen Asset Management LLC’s holdings in Weingarten Realty Investors were worth $1,174,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Franklin Parlapiano Turner & Welch LLC acquired a new position in shares of Weingarten Realty Investors during the first quarter worth about $103,000. CT Financial Advisors LLC boosted its position in shares of Weingarten Realty Investors by 0.4% in the first quarter. CT Financial Advisors LLC now owns 4,111 shares of the real estate investment trust’s stock worth $137,000 after buying an additional 18 shares during the last quarter. Pinnacle Bank acquired a new position in shares of Weingarten Realty Investors during the first quarter worth about $138,000. Founders Capital Management acquired a new position in shares of Weingarten Realty Investors during the first quarter worth about $140,000. Finally, Westwood Holdings Group Inc. acquired a new position in shares of Weingarten Realty Investors during the first quarter worth about $203,000. 79.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of Weingarten Realty Investors (NYSE WRI) opened at 33.13 on Wednesday. Weingarten Realty Investors has a 12-month low of $29.03 and a 12-month high of $42.45. The stock has a market capitalization of $4.25 billion, a P/E ratio of 22.26 and a beta of 0.72. The company has a 50-day moving average of $30.86 and a 200-day moving average of $32.87.

Weingarten Realty Investors (NYSE:WRI) last posted its earnings results on Thursday, July 27th. The real estate investment trust reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $142.96 million during the quarter, compared to the consensus estimate of $142.34 million. Weingarten Realty Investors had a return on equity of 11.03% and a net margin of 33.57%. The business’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. Equities analysts expect that Weingarten Realty Investors will post $0.97 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 8th will be given a $0.385 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.54 annualized dividend and a yield of 4.65%. Weingarten Realty Investors’s dividend payout ratio is presently 104.76%.

A number of equities analysts have issued reports on the stock. BidaskClub upgraded shares of Weingarten Realty Investors from a “sell” rating to a “hold” rating in a research report on Thursday, June 29th. Zacks Investment Research cut shares of Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. Robert W. Baird started coverage on shares of Weingarten Realty Investors in a research report on Thursday, April 20th. They issued an “outperform” rating and a $41.00 price objective for the company. Boenning Scattergood lowered shares of Weingarten Realty Investors from a “neutral” rating to an “underperform” rating in a research report on Monday, May 15th. Finally, TheStreet lowered shares of Weingarten Realty Investors from a “b” rating to a “c+” rating in a research report on Monday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $37.60.

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.