SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): January 29, 2001
WEINGARTEN REALTY INVESTORS
(Exact name of Registrant as specified in its Charter)
TEXAS 1-9876 74-1464203
(State or other jurisdiction of (Commission file number) (I.R.S. Employer
incorporation or organization) Identification Number)
2600 Citadel Plaza Drive, Suite 300, Houston, Texas 77292
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (713) 866-6000
Not applicable
(Former name or former address, if changed since last report)
ITEM 5. OTHER EVENTS.
This amendment supplements the information provided pursuant to the Form
8-K of Weingarten Realty Investors filed with the Securities and Exchange
Commission on April 26, 2001.
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FINANCIAL STATEMENTS
WEINGARTEN REALTY INVESTORS
(in thousands, except per share amounts)
THREE MONTHS ENDED
MARCH 31,
----------------------
2001 2000
---------- ----------
STATEMENT OF CONSOLIDATED INCOME AND
FUNDS FROM OPERATIONS
Rental Income $ 72,696 $ 62,154
Interest Income 923 1,403
Other Income 880 415
Total Revenues 74,499 63,972
---------- ----------
Depreciation and Amortization 16,855 13,655
Interest Expense 12,421 10,143
Operating Expense 10,663 9,007
Ad Valorem Taxes 9,319 7,926
General and Administrative Expense 2,377 1,874
Total Expenses 51,635 42,605
---------- ----------
Income from Operations 22,864 21,367
Minority Interest in Income of Partnerships (1,772) (1,916)
Gain on Sales of Property 4,310
---------- ----------
Net Income 25,402 19,451
Less: Preferred Dividends 5,010 5,010
---------- ----------
Net Income Available to Common Shareholders $ 20,392 $ 14,441
========== ==========
Net Income Per Common Share - Basic $ 0.68 $ 0.54
========== ==========
Net Income Per Common Share - Diluted $ 0.68 $ 0.54
========== ==========
Funds from Operations:
Net Income Available to Common Shareholders $ 20,392 $ 14,441
Depreciation and Amortization 15,673 13,104
Gain on Sales of Property (4,310)
---------- ----------
Funds from Operations $ 31,755 $27,545
========== ==========
Funds from Operations Per Common Share - Basic $ 1.05 $ 1.03
========== ==========
Funds from Operations Per Common Share - Diluted $ 1.05 $ 1.03
========== ==========
Weighted Average Shares Outstanding - Basic 30,109 26,707
========== ==========
Weighted Average Shares Outstanding - Diluted 30,257 26,858
========== ==========
(table continued on next page)
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FINANCIAL STATEMENTS
WEINGARTEN REALTY INVESTORS
(in thousands, except per share amounts)
AS OF
-----------------------------
MARCH 31, DECEMBER 31,
2001 2000
------------- -------------
(Audited)
CONSOLIDATED BALANCE SHEETS
Property $ 1,973,500 $ 1,906,431
Accumulated Depreciation (396,503) (387,118)
Notes Receivable 33,522 31,002
Unamortized Debt and Lease Costs 38,178 38,453
Other Assets 52,324 57,243
------------- -------------
Total Assets $ 1,701,021 $ 1,646,011
============= =============
Debt $ 771,613 $ 869,627
Accounts Payable and Accrued Expenses 40,496 69,561
Other 3,409 4,263
------------- -------------
Total Liabilities 815,518 943,451
------------- -------------
Minority Interest 74,450 72,693
------------- -------------
Preferred Shares of Beneficial Interest 264 265
Common Shares of Beneficial Interest 949 807
Capital Surplus 809,840 628,795
------------- -------------
Total Shareholders' Equity 811,053 629,867
------------- -------------
Total Liabilities and Shareholders' Equity $1,701,021 $ 1,646,011
============= =============
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: April 30, 2001
WEINGARTEN REALTY INVESTORS
/s/ Stephen C. Richter
-----------------------------
Stephen C. Richter
Senior Vice President and
Chief Financial Officer
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