Weingarten Realty FFO Climbs To $48.7 Million (WRI)

Weingarten Realty Investors WRI released financial results on Monday morning. Weingarten Realty Investors announced that its 3rd quarter Funds from Operations (“FFO”), rose to $48.7 million, or 40 cents per share, up from $29.7 million, or 25 cents per share, a year earlier. The company reported revenue of $139.04 million. According to a poll of analysts by Thomson Reuters, the average Wall Street estimate called for 42 cents per share, on revenue of $137.5 million. President and chief executive officer Drew Alexander said, “Our performance through third quarter of 2010 reflects continued improvement. We strongly believe that Weingarten's local focus, what we call our 'boots on the ground' approach has enabled us to achieve these results despite the stressed economic conditions and we anticipate continuing the momentum as we enter 2011.” Weingarten Realty Investors (WRI) finished the previous trading day at $24.13 per share. The consensus price target of analysts covering the company's stock is $22.94 per share. Read more from Benzinga's Company news.