Weingarten Realty Investors Revises First Quarter 2020 Conference Call Time and Updates Investment Status

Weingarten Realty Investors (NYSE:WRI) announced today that it has revised the date and start time of its previously announced first quarter 2020 conference call to Friday, May 8, 2020 at 12:00 p.m. Central Time. The earnings release will be distributed after the market closes on Thursday, May 7, 2020.

Event:

Weingarten Realty’s First Quarter 2020 Earnings Results

 

When:

12:00 PM CT, Friday, May 8, 2020

 

Dial#:

1.800.447.0521 / Conference ID #49202483

“The health, safety and welfare of our associates, tenants, stakeholders and the broader community continues to be of the utmost importance to the Weingarten team. We are monitoring the progress of the pandemic and are communicating with all of our tenants and assisting them where possible to operate safely. In these challenging times, as previously reported, we drew down on our Revolving Line of Credit to strengthen our liquidity position in order to maintain maximum financial flexibility and withdrew our 2020 earnings guidance,” said Drew Alexander, Chairman and Chief Executive Officer.

Portfolio Strength

The Company’s transformed portfolio of primarily supermarket anchored shopping centers located in major metropolitan markets in the Southern and Western United States is well positioned to cope with the effects of the COVID-19 pandemic. The Company’s Portfolio Information can be found on our Investor Relations page along with additional information in its Supplemental Financial package located on our website.

Liquidity

As previously announced, the Company has drawn down the remaining $482 million available under its $500 million Revolving Credit Facility to increase liquidity and preserve financial flexibility. WRI has no debt maturities remaining in 2020 and, only $53 million of secured debt maturities in 2021, which results in no significant debt maturities until October of 2022. Additionally, at December 2019, the Company’s Net Debt to EBITDAre was a very strong 5.17 times.