Weingarten Realty

Weingarten Realty REIT investor using dividends to go on tropical cruise

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Weingarten Realty is one of the most well-known real estate investment trusts, and one of the largest listed on the NYSE. Their New York Stock Exchange ticker symbol is WRI. They handle neighborhood and community shopping centers and industrial real estate across the United States, in 23 states, with 70 million square feet. Typically, their shopping centers are high class strip malls rather than full-fledged shopping centers. They're anchored by supermarkets or a national retailer.

Weingarten Realty Neighborhood Shopping Centers

They own 325 retail properties in the southern United States. Their industrial properties are also in the southern United States.

Weingarten is also one of the oldest REITs. It recently celebrated its 60th year of operation. It was originally started to build grocery stores for the chain founded by the owner's father. In 1980 the family left the supermarket business to focus on real estate. It restructured as a REIT and went public in August 1985. The current CEO is Drew Alexander, the founder's son.

Its headquarters are in Houston Texas. They remain in the south and west, because those are the highest growth areas of the country.

Some of their properties include Tomball Marketplace, Ballwin Plaza in Ballwin Missouri (anchored by the Schnucks Supermarket where I often shop for groceries), Rockwall Market Center in Rockwall Texas, Colonial Plaza in Orlando Florida, and Menifee Town Center in Menifee California.

Weingarten is a REIT strongly positioned to benefit from growth in consumer income in the western and southern United States. They may be slowed by economic slumps, but consumers have to go buy food if they buy anything. Plus, their large number of properties and locations makes them broadly diversified for safety.

Next: Agree Realty -- development of retail shopping centers, single tenant or grocery anchored

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