Weingarten Realty Investors Second Quarter Earnings Sneak Peek

Weingarten Realty Investors (NASDAQ:WRI) will unveil its latest earnings on Tuesday, August 2, 2011. 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.

Weingarten Realty Investors Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 32 cents per share, a decline of 23.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 37 cents. Between one and three months ago, the average estimate moved down and dropped from 33 cents during the last month. For the year, analysts are projecting net income of $1.65 per share, a decline of 2.9% from last year.

Past Earnings Performance: The company fell short of estimates last quarter after being in line with forecasts the quarter prior. In the first quarter, it reported profit of 41 cents per share versus a mean estimate of 43 cents. Two quarters ago, it reported net income of 43 cents per share.

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Wall St. Revenue Expectations: On average, analysts predict $138.3 million in revenue this quarter, a decline of 0.3% from the year ago quarter. Analysts are forecasting total revenue of $555.4 million for the year, a rise of 0.1% from last year’s revenue of $554.7 million.

Analyst Ratings: Analysts are bullish on Weingarten Realty Investors as seven analysts rate it as a buy, none rate it as a sell and seven rate it as a hold.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 1.2% to $139.5 million in first quarter. The figure fell 14.1% in the fourth quarter of the last fiscal year from the year earlier, dropped 9% in third quarter of the last fiscal year from the year-ago quarter and 13.7% in the second quarter of the last fiscal year.

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).

Stock Price Performance: During June 28, 2011 to July 27, 2011, the stock price had risen $1.12 (4.5%) from $24.77 to $25.89. The stock price saw one of its best stretches over the last year between April 18, 2011 and April 28, 2011 when shares rose for eight-straight days, rising 6.8% (+$1.67) over that span. It saw one of its worst periods between June 7, 2011 and June 13, 2011 when shares fell for five-straight days, falling 5% (-$1.25) over that span. Shares are up $2.63 (+11.3%) year to date.

(Source: Xignite Financials)

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