Weingarten Realty Investors Earnings Cheat Sheet: FFO Increases

Weingarten Realty Investors (NASDAQ:WRI) reported its results for the second quarter. Weingarten Realty Investors is a real estate investment trust whose business include leasing space to tenants in the shopping and industrial centers and also manage centers for joint ventures.

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Weingarten Realty Investors Earnings Cheat Sheet for the Second Quarter

Results: Funds from Operations (FFO) rose from $34.5 million or 29 cents per share to $36.4 million or 30 cents per share. FFO is a performance measure for Real Estate Investment Trusts (REIT).

Revenue: Rose 2.5% to $141.2 million from the year earlier.

Actual vs. Wall St. Expectations: WRI‘s reported FFO fell short of the mean analyst estimate of 32 cents per share.

Quoting Management: “We’re very pleased our shop space occupancy improved from 85.1% to 86.3%, quarter over quarter. Record shop leasing production and significantly reduced shop fallout contributed to the gain,” said Johnny Hendrix, Executive Vice President and Chief Operating Officer.

Key Stats:

The company has now fallen short of estimates in the last two quarters. In the first quarter, it missed expectations by 2 cents with net income of 41 cents versus a mean estimate of net income of 43 cents per share.

Competitors to Watch: One Liberty Properties, Inc. (NYSE:OLP), Urstadt Biddle Properties Inc. (NYSE:UBA), General Growth Properties, Inc (NYSE:GGP), Inland Real Estate Corp. (NYSE:IRC), The Macerich Company (NYSE:MAC), Cedar Shopping Centers Inc (NYSE:CDR), Alexander’s, Inc. (NYSE:ALX), Roberts Realty Investors, Inc. (AMEX:RPI), Entertainment Properties Trust (NYSE:EPR), and Ramco-Gershenson Properties Trust (NYSE:RPT).

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(Source: Xignite Financials)