Weingarten, founded in 1948, is a self-advised REIT that owns, acquires, and develops neighborhood shopping centers. Ownership interest in more than 300 retail assets (47 msf) is diversified in 22 states with the top 10 tenants accounting for 14% of revenue. The largest state concentrations are Texas, Florida, and California, comprising 67% of rents. Economic occupancy is 91.2% and 75% of tenants are national/regional. Differentiating Weingarten is a 9% inside ownership in its outstanding shares, compared with a 1%-3% REIT industry average.
