I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Import Tourism specializing in quicker moving active shares with a short term view on investment opportunities and trends.
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HOUSTON, July 16, 2019 – Shares of Weingarten Realty Investors (NYSE: WRI) gained 0.04% to $27.64. The stock traded total volume of 509.782K shares lower than the average volume of 888.95K shares.
Weingarten Realty (WRI) reported Net Income of $49.70M or $0.39 per share for the first quarter of 2019, as contrast to $146.80M or $1.13 per share for the same period in 2018. This decrease was due mainly to lower gains on sales of properties because of reduced disposition activity during 2019.
During the quarter, the Company purchased Madison Village in Central Phoenix, Arizona at Seventh and Glendale for $20.30M. The center is anchored by a Safeway that produces extremely strong sales and is located in a densely populated area of Phoenix with 140.0K people within a three-mile radius. With 40.0K square feet of shop space, focused leasing efforts to improve the tenancy should produce strong growth over the next couple of years.
The Company closed $67.0M of dispositions with the sale of three shopping centers counting Reynolds Crossing and Brookwood Marketplace, both in suburban Atlanta, Georgia and Waterford Village in Leland, North Carolina. The Company also sold one land parcel.
In addition, the Company invested $44.0M in new developments and redevelopments during the first quarter. The majority of the investment is in its two projects in the Washington D.C. area and its 30-story residential tower at its River Oaks Shopping Center in Houston.
WRI has the market capitalization of $3.61B and its EPS growth ratio for the past five years was 42.70%. The return on assets ratio of the Company was 5.90% while its return on investment ratio stands at 5.20%. Price to sales ratio was 6.93 while 78.50% of the stock was owned by institutional investors.