Weingarten Realty Investors (NYSE:WRI) traded at a new 52-week high today of $32.59. So far today approximately 573,000 shares have been exchanged, as compared to an average 30-day volume of 1.7 million shares.
In the past 52 weeks, shares of Weingarten Realty Investors have traded between a low of $13.90 and a high of $32.59 and is now at $32.48, which is 134% above that low price.
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.
Based on a current price of $32.48, Weingarten Realty Investors is currently 2.7% above its average consensus analyst price target of $31.59.
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