Weingarten Realty Investors (WRI) Tops Q2 Views; Raises Outlook

Weingarten Realty Investors (NYSE: WRI) reported Q2 EPS of $0.49, $0.25 better than the analyst estimate of $0.24.

• Net income attributable to common shareholders (“Net Income”) for the quarter increased to $0.49 per diluted share (hereinafter “per share”) from $0.28 per share in the same quarter of 2016;
• Core Funds From Operations Attributable to Common Shareholders ("Core FFO") for the quarter increased to $0.61 per share from $0.57 per share a year ago;
• Guidance was raised for Net Income, Funds From Operations Attributable to Common Shareholders in accordance with the National Association of Real Estate Investment Trusts definition (“NAREIT FFO”), and Core FFO;
• Same Property Net Operating Income (“SPNOI”) including redevelopments increased 2.6% over the same quarter of the prior year;
• Rental rates on new leases and renewals for the quarter were up 43.4% and 7.7%, respectively; and
• Dispositions totaled $56.4 million for the quarter and $103.8 million through June 30, 2017.

Sees FY 2017 net income of $2.22-$2.28 versus $0.94-$1.00 prior.

For earnings history and earnings-related data on Weingarten Realty Investors (WRI) click here.

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