Weingarten Realty Investors Reports Operating Results (10-K)
Weingarten Rlty has a market cap of $3.02 billion; its shares were traded at around $24.9 with a P/E ratio of 15.5 and P/S ratio of 5.5. The dividend yield of Weingarten Rlty stocks is 4.4%. Weingarten Rlty had an annual average earning growth of 0.8% over the past 10 years.
Highlight of Business Operations:Fee income from joint venture and third party managed operations for the year ended December 31, 2011, 2010 and 2009 was approximately $6.7 million, $7.0 million and $6.3 million, respectively. This fee income is based upon revenues, net income and in some cases appraised property values. In 2012, we anticipate these fees will be consistent with our 2011 performance.
Total revenues were $535.1 million for the year ended 2010 versus $552.2 million for the year ended 2009, a decrease of $17.1 million or 3.1%. This decrease is attributable to decreases in net rental revenues and other income of $13.0 million and $4.1 million, respectively. The decrease in net rental revenues was primarily attributable to an aggregate $17.9 million reduction from the sale of an 80% interest in six shopping centers. Offsetting this decline is rentals associated primarily with new development completions and the acquisition of six properties. The decrease in other revenues results primarily from a decline in lease cancellation revenue.
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