Weingarten Realty Investors (NYSE:WRI) Sees Significant Drop in Short Interest

Weingarten Realty Investors (NYSE:WRI) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 1,805,900 shares, a decrease of 30.2% from the May 15th total of 2,585,400 shares. Based on an average daily volume of 867,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.5% of the shares of the stock are sold short.

In other news, Director Stephen A. Lasher sold 115,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $29.25, for a total transaction of $3,363,750.00. Following the sale, the director now directly owns 101,797 shares of the company’s stock, valued at approximately $2,977,562.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.40% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. NEXT Financial Group Inc bought a new position in shares of Weingarten Realty Investors during the second quarter worth about $37,000. First Hawaiian Bank increased its holdings in Weingarten Realty Investors by 93.4% in the first quarter. First Hawaiian Bank now owns 2,065 shares of the real estate investment trust’s stock worth $61,000 after purchasing an additional 997 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Weingarten Realty Investors in the fourth quarter worth approximately $81,000. Pinnacle Bank bought a new stake in Weingarten Realty Investors in the fourth quarter worth approximately $102,000. Finally, First Quadrant L P CA bought a new stake in Weingarten Realty Investors in the first quarter worth approximately $129,000. Institutional investors own 78.63% of the company’s stock.

Weingarten Realty Investors stock traded down $0.47 during trading hours on Friday, hitting $26.86. The stock had a trading volume of 629,203 shares, compared to its average volume of 877,813. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $3.53 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 2.57 and a beta of 0.64. Weingarten Realty Investors has a one year low of $23.80 and a one year high of $32.02. The business has a 50 day moving average of $27.93.

Weingarten Realty Investors (NYSE:WRI) last posted its earnings results on Monday, April 29th. The real estate investment trust reported $0.39 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.14). Weingarten Realty Investors had a net margin of 44.16% and a return on equity of 12.53%. The firm had revenue of $119.83 million during the quarter, compared to the consensus estimate of $119.40 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. Weingarten Realty Investors’s revenue for the quarter was down 7.2% compared to the same quarter last year. As a group, analysts anticipate that Weingarten Realty Investors will post 2.14 EPS for the current fiscal year.

WRI has been the topic of several research analyst reports. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Weingarten Realty Investors has an average rating of “Hold” and an average target price of $30.60.

Weingarten Realty Investors Company Profile

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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