California Public Employees Retirement System Cuts Stake in Weingarten Realty Investors (WRI)

California Public Employees Retirement System reduced its stake in shares of Weingarten Realty Investors (NYSE:WRI) by 5.2% during the first quarter, Holdings Channel reports. The fund owned 304,973 shares of the real estate investment trust’s stock after selling 16,600 shares during the period. California Public Employees Retirement System’s holdings in Weingarten Realty Investors were worth $10,183,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Flinton Capital Management LLC bought a new position in shares of Weingarten Realty Investors during the fourth quarter valued at about $118,000. 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 valued at $137,000 after buying an additional 18 shares during the last quarter. Pinnacle Bank bought a new position in shares of Weingarten Realty Investors during the first quarter valued at about $138,000. Founders Capital Management bought a new position in shares of Weingarten Realty Investors during the first quarter valued at about $140,000. Finally, Tocqueville Asset Management L.P. boosted its position in shares of Weingarten Realty Investors by 6.7% in the first quarter. Tocqueville Asset Management L.P. now owns 6,400 shares of the real estate investment trust’s stock valued at $214,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 80.28% of the company’s stock.

Institutional Ownership by Quarter for Weingarten Realty Investors (NYSE:WRI)

Shares of Weingarten Realty Investors (NYSE:WRI) opened at 29.73 on Monday. The stock has a market cap of $3.82 billion, a PE ratio of 23.37 and a beta of 0.72. Weingarten Realty Investors has a 1-year low of $29.41 and a 1-year high of $43.70. The company’s 50-day moving average price is $31.13 and its 200 day moving average price is $33.87.

Weingarten Realty Investors (NYSE:WRI) last issued its quarterly earnings results on Monday, April 24th. The real estate investment trust reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $140.82 million during the quarter, compared to the consensus estimate of $140.08 million. Weingarten Realty Investors had a return on equity of 9.53% and a net margin of 29.16%. During the same quarter in the prior year, the business posted $0.57 earnings per share. Equities analysts forecast that Weingarten Realty Investors will post $0.98 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 8th were issued a $0.385 dividend. This represents a $1.54 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date was Tuesday, June 6th. Weingarten Realty Investors’s dividend payout ratio is currently 122.22%.

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Several brokerages have recently issued reports on WRI. BidaskClub cut Weingarten Realty Investors from a “hold” rating to a “sell” rating in a research note on Thursday. Jefferies Group LLC set a $37.00 price objective on Weingarten Realty Investors and gave the company a “hold” rating in a research note on Friday, May 26th. ValuEngine cut Weingarten Realty Investors from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Robert W. Baird assumed coverage on Weingarten Realty Investors in a research note on Thursday, April 20th. They set an “outperform” rating and a $41.00 target price for the company. Finally, Boenning Scattergood cut Weingarten Realty Investors from a “neutral” rating to an “underperform” rating in a research note on Monday, May 15th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $38.70.

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.

Want to see what other hedge funds are holding WRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weingarten Realty Investors (NYSE:WRI).

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