Weingarten Realty

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]

Weingarten Realty Investors
TypePublic company
NYSE: WRI
S&P 400 component
IndustryReal estate investment trust
Founded1948 (1948)
HeadquartersHouston, Texas
Key people
 Stanford Alexander, Chairman
Andrew M. Alexander, CEO
Stephen C. Richter, CFO
Revenue $486 million (2019)
$322 million (2019)
Total assets $3.937 billion (2019)
Total equity $1.876 billion (2019)
Number of employees
239 (2019)
Websiteweingarten.com
Footnotes / references
[1]
Weingarten Realty headquarters

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]

References
  1. "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. 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.
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