Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


Last $35.59 USD
Change Today -0.14 / -0.39%
Volume 684.6K
WRI On Other Exchanges
Symbol
Exchange
New York
Munich
As of 8:04 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

weingarten realty investors (WRI) Key Developments

Weingarten Realty Investors Enters $200,000,000 Unsecured Term Loan Agreement

On March 2, 2015, Weingarten Realty Investors entered into a $200,000,000 unsecured term loan pursuant to a term loan agreement with Regions Bank, as administrative agent, Regions Capital Markets and U.S. Bank National Association, as joint lead arrangers and joint book runners, and U.S. Bank National Association, as syndication agent. Other lenders involved in this transaction include: Royal Bank of Canada, The Bank of Nova Scotia, Branch Banking and Trust Company and The Northern Trust Company. The agreement is for a $200,000,000 unsecured term loan with floating borrowing rates at a margin above LIBOR and/or prime. The borrowing margin is priced off a grid in accordance with the company's senior unsecured credit ratings. The term loan matures on March 2, 2020, and the company has the option to repay the loan without penalty at any time. Additionally, the Agreement contains an accordion feature which allows the company to increase the loan amount up to an additional $100 million. The company intends to use the proceeds from the loan to repay amounts outstanding under its unsecured revolving credit facility. Pursuant to the terms of the agreement, the company is subject to various covenants, which include requiring the maintenance of maximum leverage ratios on both unsecured and secured debt and unsecured interest expense and fixed charge coverage ratios. The agreement also contains customary representations and warranties, affirmative covenants, notice provisions, and events of default, including change of control, cross-defaults to other debt, and judgment defaults.

Weingarten Realty Investors Announces Closing of $200 Million Unsecured Term Loan

Weingarten Realty Investors announced the closing of a $200 million unsecured term loan that will mature on March 2, 2020. The loan was priced at a spread of 115 basis points over LIBOR. The loan was swapped to a fixed coupon of 2.64%. Weingarten intends to use the proceeds of the term loan to repay amounts outstanding under its unsecured revolving credit facility.

Weingarten Realty Declares Common Dividend for the First Quarter of 2015 Payable on March 16, 2015; Declares Quarterly Dividend on 6.50% Series F Cumulative Redeemable Preferred Shares Payable on March 16, 2015

Weingarten Realty announced that on February 16, 2015, the board of trust managers declared an increase in the common dividend to $0.345 per share for the first quarter of 2015. This represents a 6.2% increase, resulting in an annualized dividend of $1.38 per share. The dividend is payable in cash on March 16, 2015 to shareholders of record on March 9, 2015. The board of trust managers also declared dividends on the company’s 6.50% Series F Cumulative Redeemable Preferred Shares of $0.40625 per share for the quarter payable on March 16, 2015 to shareholders of record on March 9, 2015.

Weingarten Realty Investors Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Full Year of 2015; Reports Impairment for the Fourth Quarter of 2014

Weingarten Realty Investors announced unaudited consolidated earnings results for fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenues of $126,102,000, operating income of $43,969,000, income from continuing operations of $28,732,000, net income attributable to common shareholders - diluted of $87,073,000 or $0.70 per diluted share, funds from operations - basic of $62,460,000 or $0.51 per diluted share, recurring funds from operations - diluted of $63,097,000 or $0.51 per diluted share compared to the total revenues of $126,071,000, operating income of $38,832,000, income from continuing operations of $48,314,000, net income attributable to common shareholders - diluted of $47,668,000 or $0.38 per diluted share, funds from operations - basic of $51,493,000 or $0.42 per diluted share, recurring funds from operations - diluted of $59,488,000 or $0.48 per diluted share for the same quarter a year ago. This increase in recurring FFO per share over the prior year was primarily due to the company's acquisition and new development programs, increased operating income from the existing portfolio and reduced interest expense due to favorable refinancing transactions. These increases were partially offset by the impact of the company's disposition program, which reduced recurring FFO by $0.05 per share for the quarter compared to last year. For the year, the company reported total revenues of $514,406,000, operating income of $182,038,000, income from continuing operations of $116,365,000, net income attributable to common shareholders - diluted of $279,339,000 or $2.25 per diluted share, funds from operations - basic of $254,518,000 or $2.06 per diluted share, recurring funds from operations - diluted of $255,285,000 or $2.05 per diluted share compared to the total revenues of $489,195,000, operating income of $159,868,000, income from continuing operations of $132,977,000, net income attributable to common shareholders - diluted of $184,145,000 or $1.50 per diluted share, funds from operations - basic of $222,732,000 or $1.81 per diluted share, recurring funds from operations - diluted of $243,073,000 or $1.96 per diluted share for the same period a year ago. The increase in recurring FFO was primarily due to the company's acquisition and new development programs, improvements in the existing portfolio and reduced interest expense. These increases were offset by the impact of dispositions, which reduced FFO by $0.14 per share compared to the prior year. Net debt as of December 31, 2014 was $1,938,188,000 compared to $2,299,844,000 as of December 31, 2013. The company provided earnings guidance for the full year of 2015. The company’s full year 2015 recurring FFO guidance is in the range of $2.12 to $2.17 per share. Including debt extinguishment costs of approximately $0.05 per share the company expects to incur during 2015, full year guidance for reported FFO is in the range of $2.07 to $2.12 per share. New development spending is estimated at $50 to $100 million. The company reported impairment for the fourth quarter of 2014. For the quarter, the company reported impairment loss of $1,024,000.

Weingarten Realty Investors Revises Funds from Operations Guidance for the Fiscal Year 2014 and Provides Earnings Guidance for the Fiscal Year 2015

Weingarten Realty Investors revised funds from operations guidance for the fiscal year 2014 and provided earnings guidance for the fiscal year 2015. For the year 2014, the company is raising its 2014 recurring funds from operations (FFO) guidance and is introducing 2015 earnings guidance following its transactions for fourth quarter and full year 2014, which resulted in the early completion of the strategic portfolio transformation it presented in April 2011. The company is now increasing its 2014 full-year recurring FFO guidance to a range of $2.04 - $2.06 per diluted share from a range of $2.01 - $2.03 per diluted share. The company said the increase is primarily due to timing of fourth quarter dispositions, stronger than expected operating results primarily from unanticipated bad debt and litigation recoveries and positive results from its insurance captive. It is estimated that between $0.01 and $0.02 per share for the quarter is not expected to recur going forward. For the fiscal year 2015, recurring FFO per share is expected to be between $2.12 and $2.17. Same property NOI increase expected to be between 2.5% and 3.5%. New development investment expected to be between $50,000 and $100,000.

 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup
Recently Viewed
WRI:US $35.59 USD -0.14

WRI Competitors

Market data is delayed at least 15 minutes.

Company Last Change
CBL & Associates Properties Inc $19.53 USD +0.08
Ramco-Gershenson Properties Trust $18.55 USD +0.13
Retail Properties of America Inc $15.61 USD +0.13
Tanger Factory Outlet Centers Inc $35.10 USD -0.08
Taubman Centers Inc $76.75 USD -0.22
View Industry Companies
 

Industry Analysis

WRI

Industry Average

Valuation WRI Industry Range
No financial data is available for WRI.
 | 

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact WEINGARTEN REALTY INVESTORS, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.