Weingarten Realty Comments on COVID-19
Weingarten Realty Investors (WRI)
Last weingarten realty investors earnings: 2/25 05:37 pm
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Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Weingarten Realty (NYSE: WRI) issued the following statement regarding the on-going COVID-19 pandemic.“At Weingarten, our first priority is the safety and well-being of our associates, tenants, stakeholders and the broader community during these challenging times. We are carefully monitoring the current state of the pandemic and taking appropriate steps,” said Drew Alexander, Chairman, President and Chief Executive Officer.Portfolio StrengthThe Company’s transformed portfolio is very strong and diversified with 170 shopping centers located in 16 states with 80% containing a grocery component. Additionally, approximately 75% of the average base rent of the portfolio comes from national and regional tenants.Through February 2020, operating results and rental payments are in-line with the Company’s expectations. However, as we interface with our tenants it is clear that there is much uncertainty as to the economic impact of the COVID-19 pandemic to businesse
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