Shares of Weingarten Realty Investors (NYSE:WRI) traded today at $33.71, eclipsing its 52-week high. So far today approximately 103,000 shares have been exchanged, as compared to an average 30-day volume of 1.2 million shares.
Over the past year, Weingarten Realty Investors has traded in a range of $15.24 to $33.71 and is now at $33.70, 121% above that low.
There is potential upside of 26.2% for shares of Weingarten Realty Investors based on a current price of $33.70 and an average consensus analyst price target of $42.54.
Weingarten, founded in 1948, is a self-advised REIT that owns, acquires, and develops neighborhood shopping centers. Ownership interest in more than 300 retail assets (47 msf) is diversified in 22 states with the top 10 tenants accounting for 14% of revenue. The largest state concentrations are Texas, Florida, and California, comprising 67% of rents. Economic occupancy is 91.2% and 75% of tenants are national/regional. Differentiating Weingarten is a 9% inside ownership in its outstanding shares, compared with a 1%-3% REIT industry average.
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