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Weingarten Realty Q4 FFO Down

Weingarten Realty (WRI) reported that its funds from operations attributable to common shareholders for the fourth quarter of 2019 declined to $69.2 million or $0.53 per share from $70.3 million or $0.55 per share for 2018.

Net income was $75.2 million or $0.58 per share compared to $59.5 million or $0.46 per share for the same period in 2018.

Core FFO for the quarter was $69.2 million or $0.53 per share compared to $70.2 million or $0.55 per share for the same quarter of last year. The decrease from the prior year was primarily due to dispositions of $241 million in the fourth quarter of 2018 and an additional $452 million during the year ended December 31, 2019.

Total revenues were $119.47 million, down from $127.82 million in the prior year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.25 per share and revenues of $119.02 million. Analysts' estimates typically exclude special items.

For 2020, the company expects net income per share to be in the range of $1.52 - $1.61, and FFO per share of $2.06 - $2.11.

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