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January 10, 2014
06:52 EDTWRIWeingarten Realty downgraded to Sell from Neutral at UBS
UBS downgraded Weingarten Realty given slowing NOI growth, dilutive sales activity, and limited occupancy gains. Price target lowered to $26 from $30.
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January 20, 2015
16:52 EDTWRIWeingarten Realty raises FY14 recurring FFO view to $2.04-$2.06 from $2.01-$2.03
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16:47 EDTWRIWeingarten Realty sees FY15 recurring FFO $2.12-$2.17, consensus $2.08
“While 2015 FFO will be reduced by $0.16 per share from the dilutive effect of the 2014 dispositions, we will still produce solid year-over-year FFO growth, highlighting the improved quality of our transformed portfolio. Additionally, income from our existing new developments will contribute $0.06 per share of NOI in 2015. Recurring FFO will be in the range of $2.12 to $2.17 per share in 2015,” said Steve Richter, Executive Vice President and CFO. “With the transformation complete, we are now focused on growing NAV through accretive acquisitions, redevelopments and the efforts of our new development team. Our greatly enhanced balance sheet provides us the capacity to invest a considerable amount of capital while still maintaining credit metrics that will rank among the top of our peer group. Continued growth in rental rates and occupancy will fuel solid Same Property NOI and we will further enhance the value of our existing portfolio through select redevelopment projects.”

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