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WRI Weingarten Realty Investors

Weingarten Realty Investors is a shopping center owner, manager and developer. At December 31, 2020, the Company owned or operated under long-term leases, either directly or through its interest in real estate joint ventures or partnerships, a total of 159 properties which are located in 15 states spanning the country from coast to coast. These properties represent approximately 30.2 million square feet of which its interests in these properties aggregated approximately 20.7 million square feet of leasable area.

Company profile

Ticker
WRI
Exchange
CEO
Andrew Alexander
Employees
Incorporated
Location
Fiscal year end
SEC CIK
IRS number
741464203

WRI stock data

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Calendar

5 May 21
27 Jul 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 64.51M 64.51M 64.51M 64.51M 64.51M 64.51M
Cash burn (monthly) (positive/no burn) 37.58M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 145.99M n/a n/a n/a n/a
Cash remaining n/a -81.48M n/a n/a n/a n/a
Runway (months of cash) n/a -2.2 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
15 Jul 21 Alexander Andrew M Common Stock Grant Aquire A No No 32.58 63,279 2.06M 1,594,038.401
15 Jul 21 Hendrix Johnny Common Stock Grant Aquire A No No 32.58 18,579 605.3K 404,901
15 Jul 21 Richter Stephen C Common Stock Grant Aquire A No No 32.58 18,579 605.3K 522,799.477
29 Apr 21 Shelaghmichael C. Brown Common Stock Grant Aquire A No No 32.41 2,983 96.68K 38,075
29 Apr 21 Lasher Stephen A Common Stock Grant Aquire A No No 32.41 2,983 96.68K 114,503.521

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

3.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 1 1
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 4.86M 4.86M
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
KKR Group Partnership 4.86M $0 0.0%
Largest transactions
Shares Bought/sold Change
KKR Group Partnership 4.86M 0 0.0%

Financial report summary

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Risks
  • The outbreak of the COVID-19 pandemic and related government, private sector and individual consumer responses, and recent fluctuations in energy prices, has affected and may continue to adversely affect our business operations, employee availability, financial performance, liquidity and cash flow for an unknown period of time.
  • The economic performance and value of our shopping centers depend on many factors, each of which could have an adverse impact on our cash flows and operating results.
  • Adverse effects resulting from a shift in retail shopping from brick and mortar stores to online shopping may impact our operating results.
  • We face significant competition in the leasing market, which may decrease or prevent increases in the occupancy and rental rates of our properties.
  • Adverse effects on the success and stability of our anchor tenants, could lead to reductions of rental income.
  • Real estate property investments are illiquid, and therefore, we may not be able to dispose of properties when desirable or on favorable terms.
  • We have properties that are geographically concentrated, and adverse economic or other conditions in that area could have a material adverse effect on us.
  • Our real estate assets may be subject to impairment charges.
  • Our development, redevelopment and construction activities could adversely affect our operating results.
  • Our acquisition activities may not produce the cash flows that we expect and may be limited by competitive pressures or other factors.
  • There is a lack of operating history with respect to any recent acquisitions and redevelopment or development of properties, and we may not succeed in the integration or management of additional properties.
  • Real estate property investments are illiquid, and therefore, we may not be able to dispose of properties when desirable or on favorable terms.
  • An uninsured loss or a loss that exceeds the policies on our properties could subject us to lost capital or revenue on those properties.
  • Natural disasters and severe weather conditions could have an adverse effect on our cash flow and operating results.
  • Reduction of rental income would adversely affect our profitability, our ability to meet our debt obligations and our ability to pay dividends to our shareholders.
  • Our cash flows and operating results could be adversely affected by required payments of debt or related interest and other risks of our debt financing.
  • We may be adversely affected by changes in London Interbank Offered Rate (“LIBOR”) reporting practices or the method in which LIBOR is determined.
  • Rising interest rates could increase our borrowing costs, thereby adversely affecting our cash flows and the amounts available for dividends to our shareholders, and decrease our share price, if investors seek higher yields through other investments.
  • Our financial condition could be adversely affected by financial covenants.
  • Turmoil in capital markets could adversely impact acquisition activities and pricing of real estate assets.
  • Credit ratings may not reflect all the risks of an investment in our debt or equity securities and rating changes could adversely affect our revolving credit facility.
  • Property ownership through real estate partnerships and joint ventures could limit our control of those investments and reduce our expected return.
  • Volatility in market and economic conditions may impact our partners’ ability to perform in accordance with our real estate joint venture and partnership agreements resulting in a change in control or the liquidation plans of its underlying properties.
  • If we fail to qualify as a REIT in any taxable year, we will be subject to U.S. federal income tax as a regular corporation and could have significant tax liability.
  • Tax laws have changed and may continue to change at any time, and any such legislative or other actions could have a negative effect on us.
  • Compliance with REIT requirements may negatively affect our operating decisions.
  • Loss of our key personnel could adversely affect the value of our common shares and operations.
  • Our declaration of trust contains certain limitations that make removal of our Trust Managers difficult, which could limit our shareholders ability to effect changes to our management.
  • We could be subject to litigation that may negatively impact our cash flows, financial condition and results of operations.
  • We may be subject to liability under environmental laws, ordinances and regulations.
  • Our business and operations would suffer in the event of system failures.
  • We face risks relating to cybersecurity attacks, loss of confidential information and other business disruptions.
  • Disruptions in the financial markets could affect our liquidity and have other adverse effects on us and the market price of our common shares of beneficial interest.
  • Our common shares dividend policy may change in the future.
  • Our declaration of trust contains certain limitations associated with share ownership.
  • There may be future dilution of our common shares.
Management Discussion
  • The COVID-19 pandemic has created uncertainties surrounding the global economy. Additionally, as noted earlier, tenants have been markedly impacted by the pandemic, which has affected our results. As a result, the full magnitude of the pandemic and the ultimate effect upon our future revenues and operations is uncertain at this time. While we are optimistic there will be a gradual improvement in the retail environment resulting from the distribution of vaccinations and the related re-opening of the economy, we do not expect revenues and operations to return to pre-COVID levels in the near term. In addition, during the period from the date of the Merger Agreement until the completion of the Merger, we are subject to certain restrictions on our ability to engage with third parties regarding alternative acquisition proposals and on the conduct of our business.
Content analysis
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