Weingarten Realty Investors (NYSE:WRI) announced a quarterly dividend on Tuesday, February 25th, Zacks reports. Shareholders of record on Friday, March 6th will be given a dividend of 0.395 per share by the real estate investment trust on Friday, March 13th. This represents a $1.58 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend is Thursday, March 5th.
Weingarten Realty Investors has raised its dividend payment by an average of 0.9% per year over the last three years and has increased its dividend every year for the last 9 years. Weingarten Realty Investors has a payout ratio of 171.7% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Weingarten Realty Investors to earn $2.21 per share next year, which means the company should continue to be able to cover its $1.58 annual dividend with an expected future payout ratio of 71.5%.
WRI stock traded down $1.50 during mid-day trading on Thursday, reaching $27.25. 102,849 shares of the stock traded hands, compared to its average volume of 856,012. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.94. Weingarten Realty Investors has a 52-week low of $26.10 and a 52-week high of $32.17. The company has a market cap of $3.82 billion, a P/E ratio of 11.39, a P/E/G ratio of 12.20 and a beta of 0.68. The stock’s fifty day moving average is $30.35 and its 200-day moving average is $29.75.
Several equities research analysts have commented on the stock. Citigroup raised shares of Weingarten Realty Investors from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.00 to $35.00 in a research note on Monday, January 6th. Bank of America upgraded Weingarten Realty Investors from a “neutral” rating to a “buy” rating in a report on Monday, January 6th. Zacks Investment Research raised Weingarten Realty Investors from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Thursday, January 2nd. Compass Point lowered 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 report on Friday, December 27th. Finally, ValuEngine downgraded shares of Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Weingarten Realty Investors has an average rating of “Hold” and an average price target of $34.00.
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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