UPDATE: Weingarten Realty Posts Q3 Profit
Weingarten Realty Investors (NYSE: WRI) posted a profit in the third quarter.
Weingarten posted a quarterly profit of $40.3 million, or $0.26 per share, versus a year-ago loss of $33.2 million, or $0.35 per share.
Its funds from operations climbed to $0.45 from $0.25 per share. Excluding adjustments, its recurring FFO dropped to $0.46 from $0.47 per share.
Weingarten's revenue rose 5.4% to $129.5 million. However, analysts were expecting earnings of $0.14 per share, FFO of $0.44 per share and revenue of $127 million.
Weingarten shares fell 0.86% to close at $26.43 on Friday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.