Weingarten Realty Investors (WRI) has reported 6.63 percent fall in profit for the quarter ended Dec. 31, 2016. The company has earned $44.14 million in the quarter, compared with $47.28 million for the same period last year.
Revenue during the quarter grew 10.19 percent to $142.86 million from $129.65 million in the previous year period.
Cost of revenue rose 15.92 percent or $8.18 million during the quarter to $59.59 million. Gross margin for the quarter contracted 206 basis points over the previous year period to 58.29 percent.
Total expenses were $92.73 million for the quarter, up 10.29 percent or $8.66 million from year-ago period. Operating margin for the quarter contracted 6 basis points over the previous year period to 35.09 percent.
Operating income for the quarter was $50.13 million, compared with $45.58 million in the previous year period.
Revenue from real estate activities during the quarter increased 10.19 percent or $13.21 million to $142.86 million.
Income from operating leases during the quarter rose 9.64 percent or $12.26 million to $139.51 million.
Revenue from other real estate activities during the quarter was $3.36 million, up 39.14 percent or $0.94 million from year-ago period.
Receivables move upNet receivables were at $94.47 million as on Dec. 31, 2016, up 11.42 percent or $9.68 million from year-ago. Real estate investments stood at $289.19 million as on Dec. 31, 2016, up 8.29 percent or $22.15 million from year-ago.
Total assets grew 13.45 percent or $524.98 million to $4,426.93 million on Dec. 31, 2016. On the other hand, total liabilities were at $2,665.27 million as on Dec. 31, 2016, up 13.08 percent or $308.34 million from year-ago.
Return on assets moved down 2 basis points to 0.83 percent in the quarter. At the same time, return on equity moved down 206 basis points to 1 percent in the quarter.
Debt moves upTotal debt was at $2,356.53 million as on Dec. 31, 2016, up 11.51 percent or $243.25 million from year-ago. Shareholders equity stood at $4,426.93 million as on Dec. 31, 2016, up 186.53 percent or $2,881.92 million from year-ago. As a result, debt to equity ratio went down 84 basis points to 0.53 percent in the quarter.
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