HOUSTON-Executives at Weingarten RealtyInvestors' Q1 2012 call had reason to be pleased. Duringthe quarter, recurring funds from operations increased 9.5% to $.46per diluted share year-over-year, while same property NOI also rose4.8% over the same time the previous year.

The figures prompted Weingarten executive vice president and CFOStephen Richter to point out that "we had a greatquarter." He added that 2012 is going to be a "transformative" yearfor Weingarten, thanks to upcoming activities geared to improve theREIT's "already strong balance sheet," as Richter put it.

In addition to the positive figures, Weingarten president andCEO Drew Alexander pointed out that the REIT'sdecision to exist from the industrial side of ownership would helpgenerate capital that could be put into additional acquisitions, orto pay down existing debt. One of Weingarten's major portfolio,consisting of 52 properties totaling 9.6 million square feet, isunder contract to DRA for $382 million. "The saleto DRA is progressing nicely," Alexander remarked, "and we expectto close in the next 30 days."