The REIT's board OK'd the split Feb. 26 and scheduled it to go into effect at the close of business yesterday. Tracy Pursell of Weingarten's investor relations department tells GlobeSt.com the split was done to make the stock price more attractive to potential buyers. She says some would-be investors complained about expensive stock prices. The stock went from 34 million shares, says Pursell, to 51 million with an opening price this morning of $36.05 per share.
Weingarten's stock was down 73 cents per share to $54.07 per share at yesterday's New York Stock Exchange closing. Weingarten's 52-week high is $55.46 per share with its lowest annual trade standing at $42.01 per share.
The 3-for-2 split comes amid a near year-long buying spree in the Southeast US. Weingarten's current 37.3-million sf portfolio, including its latest buys in Dallas and North Carolina, consists of 296 income-producing properties in 18 states, of which 237 are neighborhood and community shopping centers; 57, industrial properties; and one apartment complex and office building.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
