Weingarten Realty (NYSE: WRI) announced on Tuesday the results of the operations for the quarter ended June 30, 2015. We then held the Earnings Conference Call on Wednesday, but don’t worry if you missed it, below are links to listen to or read the transcript from the call.
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Second Quarter Highlights
- Same Property NOI Increases by 4.1% and new lease rent increases of 16.8%
- Recurring Funds from Operations (“FFO”) was $0.54 per share
- Purchased two shopping centers for $81.1 million; Wellington Greens, anchored by Whole Foods in Wellington, FL, and The Summit at Scottsdale, anchored by Safeway in Scottsdale, AZ
- Redevelopment Pipeline of $77M generating 10-15% return
- Occupancy increased 70 bps, to 95.5%, compared to a year ago
- Rental spreads increased 12.2%