Weingarten Realty Investors Third Quarter Earnings Sneak Peek

Weingarten Realty Investors (NYSE:WRI) will unveil its latest earnings on Monday, October 31, 2011. Weingarten Realty Investors is a real estate investment trust whose business includes leasing space to tenants in the shopping and industrial centers and also managing centers for joint ventures.

Weingarten Realty Investors Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 45 cents per share, a rise of 2.3% 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 46 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 45 cents during the last month. For the year, analysts are projecting profit of $1.65 per share, a decline of 2.9% from last year.

Past Earnings Performance: The company is looking to top analyst estimates this quarter after trailing for the two previous quarters. Last quarter, it missed estimates by reporting net income of 30 cents per share against an estimate of profit of 32 cents per share. The quarter before that, it missed expectations by 2 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 0.5% in revenue from the year-earlier quarter to $139.8 million.

Analyst Ratings: Analysts seem relatively indifferent about Weingarten Realty Investors with eight of 14 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, profit fell 48.4% to $1.7 million (-6 cents a share) from $3.3 million (-5 cents a share) the year earlier, missing analyst expectations. Revenue rose 5.7% to $149.4 million from $141.3 million.

Key Stats:

A year-over-year revenue increase in the second quarter snapped a streak of three consecutive quarters of revenue declines. Revenue fell 1.2% in the first quarter, 14.1% in the fourth quarter of the last fiscal year and 9% in the third 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 August 1, 2011 to October 25, 2011, the stock price had fallen $3.34 (-13.1%) from $25.40 to $22.06. It saw one of its worst periods between July 29, 2011 and August 8, 2011 when shares fell for seven-straight days, falling 24.6% (-$6.26) over that span. 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% (+$1.65) over that span. Shares are down 93 cents (-4%) year to date.

(Source: Xignite Financials)

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