Weingarten Realty

Last updated
Weingarten Realty Investors
Type Public company
NYSE:  WRI
S&P 400 component
Industry Real estate investment trust
Founded1948;73 years ago (1948)
Headquarters Houston, Texas
Key people
Stanford Alexander, Chairman
Andrew M. Alexander, CEO
Stephen C. Richter, CFO
RevenueDecrease2.svg $486 million (2019)
Decrease2.svg $322 million (2019)
Total assets Increase2.svg $3.937 billion (2019)
Total equity Increase2.svg $1.876 billion (2019)
Number of employees
239 (2019)
Website weingarten.com
Footnotes /references
[1]
Weingarten Realty headquarters WeingartenRealtyHQHoustonTX.JPG
Weingarten Realty headquarters

Weingarten Realty Investors is a publicly traded real estate investment trust that invests in shopping centers, primarily in the Southern United States and primarily with grocery stores as the anchor stores. [1]

Contents

As of December 31, 2019, the company owned interests in 170 properties comprising 32.5 million square feet. [1]

During 2019, 20.0% of the company's revenues were generated from properties in the Houston area and 29.3% of the company's revenues were generated from properties in Texas. [1] The company's largest tenants, Kroger and TJX Companies, each accounted for 2.5% of revenue in 2019. [1]

History

In the 1880s, Hersch Harris Weingarten, a poor Jewish immigrant from Łańcut (what was then Austria-Hungary), [2] [3] started a grocery business in Houston called Weingarten's. [4]

In 1948, Joseph Joe Weingarten, the eldest son of Harris Weingarten founded Weingarten Realty to build stores for his father's business. [4] In 1980, Safeway Inc. purchased the grocery operations. [4]

In 1985, the company became a public company via an initial public offering. [4]

In 2002, the company acquired 3 shopping centers for $46.2 million. [5] [6]

In 2012, the company sold all of its industrial assets for $382.4 million. [7]

In 2021, Kimco Realty announced its intent to acquire Weingarten. [8]

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References

  1. 1 2 3 4 5 "Weingarten Realty Investors 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. "The Weingarten Story – Part One: The Harris Weingarten Era". 23 January 2018.
  3. "Hersch, Harris Weingarten 1854-1934" . Retrieved 23 September 2020.
  4. 1 2 3 4 Keenan, Charles (November 11, 2016). "Weingarten Realty Investors is a Family Affair". National Association of Real Estate Investment Trusts .
  5. "Weingarten adds three shopping centers". American City Business Journals . December 20, 2002.
  6. "Raleigh shopping center part of $46.2M in deals". American City Business Journals . December 20, 2002.
  7. Dawson, Jennifer (April 11, 2012). "Weingarten Realty selling $382.4M in assets". American City Business Journals .