This company is a grocery anchored retail REIT undergoing a transformation. I believe it is quite attractive around 13x AFFO. Based on the expected growth in FFO per share and the dividend yield, I would expect total returns to run around 9% to 11%. If we assume the occasional recession as part of a long-term projection, we would still have a range of 7% to 9%.
Weingarten Realty Investors (WRI) is a grocery anchored retail REIT undergoing a transformation. They carry a very attractive yield using either dividends or AFFO. Their AFFO calculations are excellent. The REIT offers investors exposure to grocery-anchored retail at a compelling valuation with a reasonable balance sheet, history of growth, and a solid portfolio of properties. As it stands, I’m giving WRI a regular buy rating for “buy under $35.31.” I believe it is an excellent fit for the buy-and-hold investor.
Source: Seeking Alpha
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