Welcome to our dedicated page for WRI news (Ticker: WRI), a resource for investors and traders seeking the latest updates and insights on WRI stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect WRI's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of WRI's position in the market.
Kimco Realty Corp. (KIM) and Weingarten Realty Investors (WRI) announced stockholder approvals for their merger, with approximately 99.9% of Kimco votes and 99.6% of Weingarten votes in favor. The merger is set to finalize on August 3, 2021, allowing Weingarten shareholders to receive 1.408 shares of Kimco common stock plus $2.20 in cash per share owned, following a special dividend. Post-merger, Kimco's stock will continue trading under the KIM symbol, while Weingarten shares will be suspended from trading on August 4, 2021.
Weingarten Realty (NYSE: WRI) reported Q2 2021 results with net income of $12.7 million or $0.10 per share, marking an increase from $11.4 million or $0.09 per share in Q2 2020, but down from $0.22 per share in Q1 2021. Core FFO rose to $0.50 per share from $0.34 per share year-over-year. Cash collections were at 97%. A definitive merger agreement with Kimco Realty is set to close on August 3, 2021, following a special cash distribution of $0.69 per share. Year-to-date, net income reached $40.7 million, down from $64.0 million in 2020.
Weingarten Realty Investors (NYSE: WRI) will release its second quarter 2021 earnings after market close on July 29, 2021. Investors can access the earnings release and supplemental data package on the company’s Investor Relations website. As of March 31, 2021, Weingarten owned or managed 156 properties across 15 states, totaling approximately 29.8 million square feet, with 20.4 million square feet of leasable area.
Weingarten Realty Investors (NYSE: WRI) has declared a special cash distribution of $0.69 per share, payable on August 2, 2021, to shareholders of record as of July 28, 2021. This distribution is linked to the upcoming merger with Kimco Realty Corporation, reducing the cash consideration from $2.89 to $2.20 per share, while maintaining a share consideration of 1.408 shares of Kimco for each WRI share. The merger is anticipated to close on August 3, 2021, contingent upon shareholder approval and other conditions.
Weingarten Realty (NYSE: WRI) reported a net income of $28.0 million or $0.22 per share for Q1 2021, down from $52.6 million or $0.41 per share in 2020. Core FFO rose to $0.48 per share, compared to $0.44 per share a year ago. The company experienced 95% cash collections of rents and expenses, and completed dispositions totaling $55.8 million. A merger agreement with Kimco Realty is expected to close in H2 2021. Operating metrics show a total occupancy of 93% and a rental rate growth of 4.7%. A quarterly dividend of $0.23 per share is declared for June 2021.
Kimco Realty Corp. (NYSE: KIM) has announced a definitive merger agreement with Weingarten Realty Investors (NYSE: WRI). This merger aims to create a prominent retail real estate platform with a pro forma equity market capitalization of about $12 billion and total enterprise value of $20.5 billion. Each Weingarten share will convert to 1.408 Kimco shares plus $2.89 in cash, totaling approximately $30.32 per share. The combined entity will manage 559 grocery-anchored centers across the U.S., enhancing scale and growth potential. The transaction is set to close in the second half of 2021, pending shareholder approval.
Kimco Realty Corp. (NYSE: KIM) and Weingarten Realty Investors (NYSE: WRI) have announced a definitive merger agreement that will unite their real estate platforms, creating a leading open-air shopping center owner in the U.S. Weingarten shareholders will receive 1.408 shares of Kimco plus $2.89 in cash per share, totaling about $30.32. The combined entity will have a pro forma equity market capitalization of $12 billion and a total enterprise value of approximately $20.5 billion. This merger enhances market presence, tenant diversity, and financial strength, with expected annual synergies of $35-$38 million.
Weingarten Realty Investors (NYSE:WRI) will announce its first quarter 2021 earnings on April 26, 2021, post-market close. A conference call with senior management is scheduled for April 27, 2021, at 10:00 AM CT to discuss the results. The company, which manages 159 properties across 15 states, emphasizes its ongoing growth strategies and operations. However, forward-looking statements warn of risks, particularly related to uncertainties arising from the COVID-19 pandemic, which may impact performance.
Weingarten Realty Investors (NYSE:WRI) announced key promotions within its leadership team. Darren Amato is now Senior Vice President, Investments, overseeing significant transactions totaling almost $2 billion. Andrew Bell has been promoted to Area Vice President, Leasing, having successfully managed major leasing projects since joining in 2012. Cindy Krist steps up as Divisional Vice President, Tax, recognized for her strategic contributions since 2005. These promotions reflect the company's commitment to recognizing talent and ensuring leadership continuity.
Weingarten Realty Investors (NYSE: WRI) will participate in the Citi 2021 Virtual Global Property CEO Conference from March 8-11, 2021. CEO Andrew “Drew” Alexander is set to present on March 9, 2021, at 4:15 PM ET. The event can be accessed via a live webcast, and a replay will be available until March 9, 2022. As of December 31, 2020, Weingarten owns or operates 159 properties across 15 states, totaling approximately 30.2 million square feet. For more details, visit the company’s website.
