Last $30.78 USD
Change Today -0.13 / -0.42%
Volume 1.0M
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As of 8:04 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

weingarten realty investors (WRI) Key Developments

Weingarten Realty Announces Management Promotions

Weingarten Realty Investors announced the promotion of Karl Brinkman to Area Vice President of Leasing and Terri Klages to Divisional Vice President /Assistant Controller. Karl joined Weingarten in 2006 as Leasing Executive and in 2012 was promoted to Regional Leasing Director. Karl leads the Southeast Region consisting of 20 shopping centers encompassing approximately 2 million square feet. In his role as Area Vice President, Karl will continue to be actively involved in the existing asset portfolio as well as tenant leasing, acquisition, new development and redevelopment efforts. Terri joined Weingarten in 2007 as Assistant Controller of Financial Reporting. During Terri's years with Weingarten, she has expanded the services provided by her functional areas, implemented several cost saving initiatives, as well as improved the quality of reporting.

Weingarten Realty Investors Presents at Citi 2014 Global Property CEO Conference, Mar-05-2014 07:30 AM

Weingarten Realty Investors Presents at Citi 2014 Global Property CEO Conference, Mar-05-2014 07:30 AM. Venue: The Westin Diplomat, 3555 South Ocean Drive, Hollywood, FL 33019, United States. Speakers: Andrew M. Alexander, Chief Executive Officer, President, Trust Manager, Chairman of Executive Committee and Chairman of Pricing Committee, Stephen C. Richter, Chief Financial Officer and Executive Vice President.

Weingarten Realty Mulls Acquisitions

Weingarten Realty Investors (NYSE:WRI) is seeking acquisitions. Drew Alexander, President and Chief Executive Officer of Weingarten Realty said, "Looking ahead to 2014, we will continue to aggressively pursue our transformation goals. The acquisitions market remains highly competitive, so finding significant, high quality acquisitions, which make economic sense, will be challenging, but we will continue to diligently search for those opportunities."

Weingarten Realty Investors Increases Dividend for the First Quarter of 2014, Payable on March 14, 2014; Declares Dividend on Preferred Shares for the First Quarter of 2014, Payable on March 14, 2014

The Board of Weingarten Realty Investors declared an increase in the common dividend to $0.325 per share for the first quarter of 2014. This represents a 6.6% increase resulting in an annualized dividend of $1.30 per share. The dividend is payable in cash on March 14, 2014 to shareholders of record on March 6, 2014. The Board of Trust Managers also declared dividends on the company's 6.50% Series F Cumulative Redeemable Preferred Shares of $0.40625 per share for the quarter payable on March 14, 2014 to shareholders of record on March 6, 2014.

Weingarten Realty Investors Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for 2014

Weingarten Realty Investors reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported total revenues of $128,183,000 against $119,547,000 for the same period in the last year. Operating income was $39,694,000 against $40,912,000 for the same period in the last year. Income from continuing operations was $48,884,000 against $31,410,000 for the same period in the last year. Net income attributable to common shareholders – diluted was $47,668,000 or $0.38 per diluted share against $42,928,000 or $0.35 per diluted share for the same period in the last year. Funds from operations – basic were $51,493,000 against $56,555,000 for the same period in the last year. Recurring FFO was $0.48 per diluted share for the quarter, up from $0.47 in the fourth quarter last year. FFO for the fourth quarter benefited from improved occupancy, which increased by 120 basis points to 94.8% from the same quarter of the prior year. Recurring FFO also benefited from the redemption of 75 million of preferred D shares in the first quarter of 2013 and 200 million of preferred F shares late in the second quarter, as well as the ongoing refinancing of normal debt maturities. FFO per diluted share was $0.42 against $0.46 for the same period in the last year. For the year, the company reported total revenues of $497,725,000 against $456,904,000 for the same period in the last year. Operating income was $163,400,000 against $146,680,000 for the same period in the last year. Income from continuing operations was $135,372,000 against $60,511,000 for the same period in the last year. Net income attributable to common shareholders – diluted was $184,145,000 or $1.50 per diluted share against $109,210,000 or $0.90 per diluted share for the same period in the last year. Funds from operations – basic were $222,732,000 against $222,128,000 for the same period in the last year. FFO per diluted share was $1.81 against $1.8246 for the same period in the last year. The company's full year recurring FFO guidance remains in the range of $1.95 to $2.01 per share. The company’s specific guidance on dispositions did not include the two properties that closed subsequent to year-end or the pending Village Arcade ground lease transaction. Accordingly, the company is raising its disposition guidance from a range of $200 million to $300 million to a range of $300 million to $400 million. All other guidance remains unchanged.

 

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Price/Earnings 68.4x
Price/Sales 7.0x
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Price/Cash Flow 10.2x
TEV/Sales 2.0x
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