|Over a week ago|
Weingarten Realty cash collections increase to 91% for Q3, and 90% for October » 07:1411/1611/16/20
Weingarten Realty …
Weingarten Realty provided the following business update regarding the COVID-19 pandemic for the REIT world: 2020 Investors Conference, including an update on rent collections for the third quarter and October of 2020. To view the Company's updated investor presentation, please visit the REITworld 2020 Investor Presentation on our Webcasts & Presentations page at www.weingarten.com. "Weingarten is well positioned to navigate the COVID pandemic. We are pleased with the increase in cash collections to 91% for the third quarter and 90% for October which we are reporting .This demonstrates the strength of our transformed portfolio of primarily grocery-anchored centers that provide basic goods and services," said Drew Alexander, Chairman, President and Chief Executive Officer.
|Over a month ago|
Weingarten Realty files automatic mixed securities shelf 12:2909/1709/17/20
|Over a quarter ago|
Weingarten Realty reports Q2 FFO 34c, consensus 40c » 16:1607/2907/29/20
Reports Q2 revenue…
Reports Q2 revenue $98.1M, consensus $109.46M. Reports Q2 occupancy 93.4%. "Given the headwinds of the pandemic, we had a relatively good quarter. With the reopening of the economy in our markets, most of our tenants have been able to restart operations as they learn to operate in this challenging environment. Accordingly, we have experienced continued improvement in our cash collections and rent deferrals. Our balance sheet remains strong and our liquidity position is more than adequate. We remain focused on the safety and well-being of our associates, tenants, stakeholders and the broader community. With a transformed portfolio of primarily grocery-anchored centers providing basic goods and services, we are optimistic our centers will perform well, on a relative basis, in this crisis," said Drew Alexander, CEO.
Weingarten Realty price target raised to $19 from $14.50 at Citi » 07:0407/0207/02/20
Citi analyst Michael…
Citi analyst Michael Bilerman raised the firm's price target on Weingarten Realty Investors to $19 from $14.50 and keeps a Neutral rating on the shares. While remaining underweight the retail and net lease real estate investment trusts, Citi raised 12-month target prices across most of the coverage universe to reflect a lower level of risk priced into the shares in conjunction with stores re-opening.
BTIG raises price targets on Strip Center REITs » 09:0206/2506/25/20
REG, ROIC, WRI
BTIG analyst Michael…
BTIG analyst Michael Gorman raised his price targets on Buy-rated Regency Centers (REG) to $50 from $40, Retail Opportunity Investments (ROIC) to $14 PT from $10, and Weingarten Realty (WRI) to $23 PT from $19, noting these stocks have come under a "disproportionate" market dislocation related to the pandemic. The analyst notes that concepts including fitness, entertainment, and dining have greater uncertainty surrounding them in the current climate, but other tenant groups that include grocery stores, drug stores, and superstores continue to perform well as essential businesses. Gorman adds that he continues to favor stable, grocer-anchored portfolios with positively trending rent collection statistics.
Weingarten Realty says transformed portfolio 'very strong' » 16:0806/0106/01/20
Weingarten Realty provided an update regarding the COVID-19 pandemic for the REITweek: 2020 Investors Conference. "The Company's transformed portfolio, which is 80% supermarket anchored, is very strong and diversified with 167 shopping centers located in 16 states primarily in the south and western United States. Additionally, approximately 75% of the average base rent of the portfolio comes from national and regional tenants," the company said. "Cash collections to-date for April rent have now reached 70%, as compared to 64% as reported in our first quarter press release. Further the Company negotiated deferral agreements for an additional 11% of April rent. Currently, May cash collections total 62% of rents. In addition, there are 15% of finalized May rent deferrals. The decreased collection rate for May has been significantly impacted by the timing, as payments continue to be received going forward, as well as the completion of additional deferral agreements. As May activity is finalized, it is expected that total cash collections plus deferrals for May and April will be similar. The Company's collection rates for April were among the highest in the shopping center sector." "We wish the best to all the first line responders, including the many associates at our retailers and our sympathies go out to those affected by this crisis. The dedicated team at Weingarten continues to work closely with all of our tenants to successfully navigate the reopening of the businesses in our shopping centers. We are excited that many of our tenants, most of which provide basic goods and services, have reopened and expect the vast majority of our tenants to resume operations shortly. We have been pleased with our performance through the pandemic thus far, though significant challenges remain," said Drew Alexander, Chairman, President and Chief Executive Officer.
Weingarten Realty reports Q1 FFO 44c, consensus 44c » 17:1605/0705/07/20
Reports Q1 revenue…
Reports Q1 revenue $111.4M, consensus $117.4M. Reports Q1 occupancy 94.5% and same-store NOI up 0.2%.
JPMorgan downgrades seven, upgrades one strip center REIT » 06:1704/2204/22/20
BRX, FRT, AKR, REG, RPAI, RPT, WRI, KIM
JPMorgan analysts Michael…
JPMorgan analysts Michael Mueller and Anthony Paolone reset ratings for eight of the 10 strip center real estate investment trust stocks they cover, with seven downgrades and one upgrade. The analysts prefer other property types today where they have a greater conviction on how the COVID-19 impact could play out. Strip center stocks have already been significant underperformers this year, but they could continue to lag over the near-term as the direct impact of COVID-19 starts to materialize, Mueller and Paolone write in a research note. April and May non-rent payment levels will likely be significant and there will be some level of stores that do not re-open or will inevitably shutter due to reduced traffic/sales, say the analysts. They downgraded Brixmor Property Group (BRX) and Federal Realty (FRT) from Overweight to Neutral, and Acadia Realty (AKR), Regency Centers (REG), Retail Properties of America (RPAI), RPT Realty (RPT), and Weingarten (WRI) from Neutral to Underweight. They also upgraded Kimco Realty (KIM) from Neutral to Overweight to "differentiate a bit more within the sector."
Weingarten Realty downgraded to Underweight from Neutral at JPMorgan » 05:3404/2204/22/20
JPMorgan analyst Michael…
JPMorgan analyst Michael Mueller downgraded Weingarten Realty Investors to Underweight from Neutral with a $16 price target.
Weingarten Realty price target lowered to $19 from $32 at Wells Fargo » 08:4004/1504/15/20
Wells Fargo analyst Tammi…
Wells Fargo analyst Tammi Fique lowered the firm's price target on Weingarten Realty to $19 from $32 while keeping an Equal Weight rating on the shares. The analyst notes that the company was the first in Fique's coverage to withdraw guidance and borrow the full capacity on its credit facility.