This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Weingarten Realty Continues Portfolio Transformation And Increases Dividend By 6.6%

Weingarten Realty (NYSE: WRI) announced today the results of its operations for the fourth quarter and full year ended December 31, 2013.

Fourth Quarter Operating and Financial Highlights
  • Recurring Funds from Operations (“FFO”) was $0.48 per diluted share;
  • Continued progress of the portfolio transformation with $85.3 million of high quality acquisitions and $38.6 million of non-core dispositions;
  • Same Property Net Operating Income (“NOI”) increased by 3.0% over the fourth quarter of the prior year and 4.2% over the full year 2012;
  • Occupancy improved to 94.8% during the fourth quarter, up from 93.6% in the fourth quarter of last year; and
  • The Board of Trust Managers increased the common dividend per share 6.6% to $0.325 per quarter or $1.30 on an annualized basis.

Financial Results

The Company reported net income attributable to common shareholders of $47.2 million or $0.38 per diluted share (hereinafter “per share”) for the fourth quarter of 2013, as compared to $42.9 million or $0.35 per share for the same period in 2012. For the full year 2013, the Company reported net income of $184.1 million or $1.50 per share compared to $109.2 million or $0.90 per share for the full year 2012. Included in net income for 2013 were, on a per share basis, gains on the sale of properties and partnership interests of $0.90, a gain on acquisition of $0.16 and the write off of an above market debt intangible of $.07. Offsetting these amounts were redemption costs on preferred shares of $0.15 and a non-cash deferred tax provision of $0.06 related to the gain on acquisition. Included in 2012 were gains on the sale of properties and partnership interests of $0.69 per share, offset by non-cash impairments of $0.28 per share.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs