-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OyK4pTvgauBEJTKl2r+ejQKr1V25/yODLFDMjkHaWwqXuJ3KArlcUybJkDAD9ch1 gE7OEy86THBCYUV914sCgA== 0000828916-98-000023.txt : 19980702 0000828916-98-000023.hdr.sgml : 19980702 ACCESSION NUMBER: 0000828916-98-000023 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971231 FILED AS OF DATE: 19980701 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: WEINGARTEN REALTY INVESTORS /TX/ CENTRAL INDEX KEY: 0000828916 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 741464203 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 001-09876 FILM NUMBER: 98659364 BUSINESS ADDRESS: STREET 1: 2600 CITADEL PLAZA DR CITY: HOUSTON STATE: TX ZIP: 77008 BUSINESS PHONE: 7138666000 MAIL ADDRESS: STREET 1: P O BOX 924133 STREET 2: P O BOX 924133 CITY: HOUSTON STATE: TX ZIP: 77292-4133 11-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________ FORM 11-K ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1997 Savings and Investment Plan for Employees of Weingarten Realty (Full title of the plan) ____________________ WEINGARTEN REALTY INVESTORS (Name and issuer of the securities held pursuant to the plan) 2600 Citadel Plaza Drive Houston, Texas 77008 (Address of principal executive offices) Financial Statements and Exhibits - ------------------------------------ (a) Financial statements. (1) Independent Auditors' Report (2) Statements of Net Assets Available for Benefits as of December 31, 1997 and 1996 (3) Statements of Changes in Net Assets Available for Benefits for the Years Ended December 31, 1997 and 1996 (4) Notes to Financial Statement (5) Supplemental Schedules of Assets Held for Investment Purposes and 5% Reportable Transactions The financial statements and schedules referred to above have been prepared in accordance with the regulations of the Employee Retirement Income Security Act of 1974 as allowed under the Form 11-K financial statement requirements. (b) Exhibits. 24 -Independent Auditors' Consent Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan Administrator has duly caused this annual report to be signed by the undersigned thereunto duly authorized. SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY By: Weingarten Realty Investors Date: June 30, 1998 By: Stanford Alexander ------------------------------------ Stanford Alexander, Chairman/ Chief Executive Officer INDEPENDENT AUDITORS' REPORT To the Trustees and Participants of the Savings and Investment Plan for Employees of Weingarten Realty: We have audited, in total, the accompanying statements of net assets available for benefits of the Savings and Investment Plan for Employees of Weingarten Realty (the "Plan") as of December 31, 1997 and 1996, and the related statements of changes in net assets available for benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, such financial statements present fairly, in total, in all material respects, the net assets available for benefits of the Plan as of December 31, 1997 and 1996, and the changes in net assets available for benefits for the years then ended in conformity with generally accepted accounting principles. Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules of (1) assets held for investment purposes as of December 31, 1997, and (2) transactions in excess of five percent of the current value of plan assets for the year ended December 31, 1997, are presented for the purpose of additional analysis and are not a required part of the basic financial statements but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information by fund in the statements of changes in net assets available for benefits is presented for the purpose of additional analysis rather than to present changes in net assets available for benefits of the individual funds. The supplemental schedules and supplemental information are the responsibility of the Plan's management. Such supplemental schedules and supplemental information by fund have been subjected to the auditing procedures applied in our audits of the basic financial statements and, in our opinion, are fairly stated in all material respects when considered in relation to the basic financial statements taken as a whole. DELOITTE & TOUCHE LLP Houston, Texas June 29, 1998 SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 1997 AND 1996
1997 1996 ---- ---- ASSETS - --------------------------------- INVESTMENTS: Mutual Funds $7,089,705 $5,501,244 Common Stock 942,228 687,903 Participant Loans Receivable 205,463 84,552 ---------- ---------- TOTAL INVESTMENTS 8,237,396 6,273,699 ---------- ---------- RECEIVABLES: Contributions 108,097 91,017 Loan Interest 1,761 4,327 ---------- ---------- TOTAL RECEIVABLES 109,858 95,344 ---------- ---------- CASH 7,067 548 ---------- ---------- NET ASSETS AVAILABLE FOR BENEFITS $8,354,321 $6,369,591 ---------- ----------
See Notes to Financial Statements SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEARS ENDED DECEMBER 31, 1997 AND 1996 DECEMBER 31, 1997 SUPPLEMENTAL INFORMATION BY FUND --------------------------------
Growth & Aggressive Stable Intermediate Mixed Income Growth Growth Asset Bond Investment Equity Equity Equity --------- -------------- ------------ ----------- ----------- ------------ INVESTMENT INCOME: Dividends $ 13,575 $ 149,757 $ 202,374 $ 67,472 $ 35,155 Money Market Interest Participant Loan Interest $ 843 46 2,925 2,384 2,959 1,315 Other 4 (2) NET APPRECIATION (DEPRECIATION) IN FAIR VALUE OF INVESTMENTS 45,160 5,147 182,630 125,658 320,134 40,958 CONTRIBUTIONS: Participating Employees 35,847 11,913 113,055 119,639 108,466 60,797 Employer 14,082 6,066 52,136 57,137 48,766 27,236 BENEFITS PAID TO PARTICIPANTS (27,817) (9,349) (38,999) (40,529) (26,336) (24,924) PARTICIPANT LOANS (43,307) (2,834) (30,982) (19,771) (23,934) 4,835 ADMINISTRATIVE FEES 548 FUND TRANSFERS 84,485 (11,727) (789) (65,529) (74,539) 48,239 INCREASE IN NET ASSETS AVAILABLE FOR BENEFITS 109,841 12,841 429,733 381,361 422,988 193,611 NET ASSETS AVAILABLE FOR BENEFITS, BEGINNING OF PERIOD 758,913 202,773 1,533,959 1,416,744 1,109,473 413,147 NET ASSETS AVAILABLE FOR BENEFITS, END OF PERIOD $868,754 $ 215,614 $ 1,963,692 $1,798,105 $1,532,461 $ 606,758 Weingarten International Realty Loan Equity Common Stock Fund Total --------------- -------------- -------- ----------- INVESTMENT INCOME: Dividends $ 10,418 $ 50,184 $ 528,935 Money Market Interest 3,835 3,835 Participant Loan Interest 243 455 11,170 Other 1 48 51 NET APPRECIATION (DEPRECIATION) IN FAIR VALUE OF INVESTMENTS (6,798) 74,930 787,819 CONTRIBUTIONS: Participating Employees 25,538 95,074 570,329 Employer 11,771 44,643 261,837 BENEFITS PAID TO PARTICIPANTS (3,763) (8,020) (179,737) PARTICIPANT LOANS 2,211 (7,129) $120,911 ADMINISTRATIVE FEES (57) 491 FUND TRANSFERS 9,138 10,722 INCREASE IN NET ASSETS AVAILABLE FOR BENEFITS 48,759 264,685 120,911 1,984,730 NET ASSETS AVAILABLE FOR BENEFITS, BEGINNING OF PERIOD 152,201 697,829 84,552 6,369,591 NET ASSETS AVAILABLE FOR BENEFITS, END OF PERIOD $ 200,960 $ 962,514 $205,463 $8,354,321
SEE NOTES TO FINANCIAL STATEMENTS 5 SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEARS ENDED DECEMBER 31, 1997 AND 1996 (CONTINUED) DECEMBER 31, 1996 SUPPLEMENTAL INFORMATION BY FUND
Growth & Balanced Equity Fixed Stable Intermediate Mixed Income Fund Fund Fund Asset Bond Investment Equity ---------- -------- ------- ----------- -------------- ------------ ----------- INVESTMENT INCOME: Dividends ($735) $ 12,637 $ 66,366 $ 210,845 Money Market Interest $ 5 $ 3 13 Participant Loan Interest $ 68 46 1,459 388 Other 114 50 257 306 NET APPRECIATION (DEPRECIATION) 654 45,756 (7,494) 128,162 83,251 IN FAIR VALUE OF INVESTMENTS CONTRIBUTIONS: Participating Employees 61,292 18,629 113,157 111,926 Employer 12,684 6,860 45,665 42,823 BENEFITS PAID TO PARTICIPANTS (2,180) (265,569) (42,841) (69,958) (53,410) PARTICIPANT LOANS (3,902) (4,651) (32,664) (17,196) ADMINISTRATIVE FEES (15) (15) FUND TRANSFERS (478) (345) 68 (121,923) (1,539) (9,868) 64,443 INCREASE (DECREASE) IN NET ASSETS AVAILABLE FOR BENEFITS (488) (357) (2,180) (271,482) (18,303) 242,576 443,376 NET ASSETS AVAILABLE FOR BENEFITS, BEGINNING OF PERIOD 488 357 2,180 1,030,395 221,076 1,291,383 973,368 NET ASSETS AVAILABLE FOR BENEFITS, END OF PERIOD $ 758,913 $ 202,773 $ 1,533,959 $1,416,744 Aggressive Weingarten Growth Growth International Realty Loan Equity Equity Equity Common Stock Fund Total ----------- ------------ --------------- -------------- ------- ----------- INVESTMENT INCOME: Dividends $ 51,849 $ 28,229 $ 3,961 $ 39,054 $ 412,206 Money Market Interest 21 Participant Loan Interest 906 236 29 232 3,362 Other 245 54 39 (479) 586 NET APPRECIATION (DEPRECIATION) 168,916 28,093 9,771 43,965 501,074 IN FAIR VALUE OF INVESTMENTS CONTRIBUTIONS: Participating Employees 100,822 51,700 25,194 87,320 570,040 Employer 38,497 19,004 9,563 34,721 209,817 BENEFITS PAID TO PARTICIPANTS (31,951) (8,483) (126) (4,997) (479,515) PARTICIPANT LOANS (25,119) 1,208 395 (2,623) $84,552 ADMINISTRATIVE FEES (257) (287) FUND TRANSFERS 7,931 21,791 66,436 (26,516) INCREASE (DECREASE) IN NET ASSETS AVAILABLE FOR BENEFITS 312,096 141,832 115,262 170,420 84,552 1,217,304 NET ASSETS AVAILABLE FOR BENEFITS, BEGINNING OF PERIOD 797,377 271,315 36,939 527,409 5,152,287 NET ASSETS AVAILABLE FOR BENEFITS, END OF PERIOD $1,109,473 $ 413,147 $ 152,201 $ 697,829 $84,552 $6,369,591
SEE NOTES TO FINANCIAL STATEMENTS SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY ------------------------------ Notes to Financial Statements 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The general purpose of the Savings and Investment Plan for Employees of Weingarten Realty (the "Plan") is to provide retirement and other related benefits for employees of Weingarten Realty Investors ("WRI") and its wholly owned subsidiary, Weingarten Realty Management Company ("WRMC"), referred to, collectively, as the "Company". Basis of Accounting - The financial records of the Plan and the account - --------------------- records of participants of the Plan are generally maintained on the cash basis of accounting. The accompanying financial statements of the Plan are presented on the accrual basis of accounting; accordingly, memorandum entries are made to the accounting records to reflect the accrual for dividend and interest income, contributions by the Company and participants and interest on loan payments due. Withdrawals of benefits by participants are recorded when paid. Investments - Investments are carried at their quoted market value. Average - ----------- cost is used to determine the cost of investments sold or redeemed. Valuation of Loans to Participants - The loans to participants are valued ---------------------------------- at cost plus accrued interest which approximates fair value. Use of Estimates - The preparation of financial statements requires ------------------ management to make use of estimates and assumptions that affect amounts reported in the financial statements as well as certain disclosures. Actual results could differ from those estimates. 2. SUMMARY DESCRIPTION OF THE PLAN The Plan is a defined contribution plan subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended, and regulations promulgated thereunder. The following is a summary of the Plan, as restated on July 1, 1997. Plan participants should refer to the Plan document for more complete information. Eligibility - All employees are eligible to participate in the Plan after ----------- completing one hour of eligible service and attaining 21 years of age. Participant Contributions - Participants may contribute 1% to 12% of -------------------------- their annual paid compensation (as defined in the Plan document) as salary reduction contributions. Such contributions are generally made through regular payroll withholdings and reduce the amount of the participant's compensation that is subject to federal income tax. Employer Contributions - The Company may make monthly matching ---------------------- contributions to the Plan. The maximum amount of each participant's salary reduction contribution that is subject to matching is equal to 6% of the participant's qualified compensation. The employer's matching contribution is generally allocated to the individual participant's accounts based on the ratio of the participant's salary reduction contributions to the total salary reduction contributions made by all participants during the period. The employer's matching contribution is directed to the different funds (described under "Investment Options") using the same ratio as the participants' individual contributions. The Company may also make discretionary contributions. Discretionary contributions are allocated to the individual participant based on the ratio of the participant's compensation to the compensation of all participants during the year. No discretionary contributions are invested in Weingarten Realty Common Stock. No discretionary contributions were madeduring the years ended 1997 and 1996. Vesting - Participants are fully vested for all contributions made by them. For employer contributions and earnings of the Plan, participants vest as follows:
Vested Years of Vesting Service Percentage - --------------------------------------- ---------- Less than 2 years . . . . . . . . . . . 0 At least 2 years, but less than 3 years 20 At least 3 years, but less than 4 years 40 At least 4 years, but less than 5 years 60 At least 5 years, but less than 6 years 80 6 years or more . . . . . . . . . . . . 100
Upon death, disability or reaching 65 years of age, a participant becomes fully vested for all contributions and earnings made on his behalf. Administration - Plan Administrators, appointed by the Company, are -------------- responsible for the administrative operations of the Plan and maintaining the accounting records of the Plan and the participants. Withdrawals - Upon death, disability or termination from the Company, a ----------- participant or the beneficiary may withdraw all the participant's vested interest in the Plan. A participant may withdraw all or a portion of his nondedu ctible voluntary contributions at the end of the plan year or, in case of hardship, at times otherwise allowed by the Plan Administrator. Participants may withdraw all of their vested account balances upon attaining the age of 59 1/2. Participants who terminate employment and receive distributions of their vested account balances forfeit the nonvested portion of their ccounts. Forfeitures during the year are used to reduce the amount required by the employers' matching contributions. Participant Loans - Eligible participants may borrow from their fund ------------------ accounts a minimum of $1,000 up to a maximum of the lesser of $50,000 or 50% of their vested account balances. Loan transactions are treated as a transfer between the investment funds and the loan fund. Loan terms range from 1 to 5 years, however loans may be made up to 15 years if related to the purchase of a primary residence. The loans are secured by the balance in the participant's account and bear interest equal to the prime rate on the first day of the month that the loan is made, plus 1%. Principal and interest are paid ratably through monthly payroll deductions. Investment Options - At December 31, 1995, assets in the Fixed Fund, the ------------------ Balanced Fund and the Equity Fund were allocated into eight new investment options as directed by participants. A description of the available investment options follows: (a) Balanced Fund - a fund of common stocks (excluding WRI stock, except through shares held in a commingled fund), preferred stocks, bonds, convertible securities and other similar types of investments, including mutual funds; (b) Equity Fund a fund of common stocks (excluding WRI stock, except through shares held in a commingled fund), and preferred stocks; (c) Fixed Fund - a fund invested in cash equivalents having ready marketability, such as U.S. Treasury bills, commercial paper, guaranteed investment contracts, certificates of deposit and similar short-term securities; (d) Stable Asset Fund - a fund invested in the Firstar Institutional Investors Guaranteed Investment Contract Fund, which invests in assets such as guaranteed investment contracts and bank investment contracts; (e) Intermediate Bond Fund - a fund invested in the Columbia -Fixed Income Securities Fund, Inc., which invests at least 95% of assets in investment-grade debt securities such as U.S. government obligations, including GNMA's and FNMA's; (f) Mixed Investment Fund - a fund invested in the Dodge & Cox Balanced Fund, which invests at least 75% in common stocks and convertible securities with the balance invested in investment-grade fixed income securities; (g) Growth and Income Equity Fund - a fund invested in the Mutual Series Beacon Fund, which invests in common and preferred stocks and corporate debt securities; (h) Growth Equity Fund - a fund invested in the Davis New York Venture Fund, Inc., which invests predominantly in equity securities of companies with perceived growth potential; (i) Aggressive Growth Equity Fund - a fund invested in the Royce Premier Fund, which invests in common stocks and convertible securities in companies with perceived long-term growth potential; (j) International Equity Fund - a fund invested in the T. Rowe Price International Stock Fund, which invests at least 65% in common stocks of established non-U.S. companies with the balance of assets invested in preferred stocks and convertible and/or debt securities of foreign companies;and (k) Weingarten Realty Common Stock - a fund invested in common shares of beneficial interest of WRI purchased on the open market. At December 31, 1997 and 1996, there were 164 and 140 participants, respectively, who had their contributions allocated as follows:
Number of Participants December December 1997 1996 ---------------------- -------- Stable Asset Fund. . . . . . . 52 47 Intermediate Bond Fund . . . . 38 41 Mixed Investment Fund. . . . . 106 99 Growth and Income Equity Fund. 99 95 Growth Equity Fund . . . . . . 101 89 Aggressive Growth Equity Fund. 68 60 International Equity Fund. . 44 39 Weingarten Realty Common Stock 69 62
Amendment or Termination of the Plan - The Plan may be amended or -------------------------------------- terminated at any time by the Company. No amendment may deprive any participant (or their beneficiary) of any vested right the participant may have accrued. If the Plan is terminated, the accounts of all participants become nonforfeitable and the Plan's assets or cash will be distributed to the participants so affected. 3. TAX STATUS The Plan received a favorable ruling dated April 15, 1997 indicating that the Plan was a qualified plan under Sections 401(a) and 501(a) of the Internal Revenue Code and, therefore, exempt from income taxes. The Plan Administrator and outside counsel believe that the Plan, as amended, qualifies under the meanings of the above-mentioned sections of the Internal Revenue Code; accordingly, no provision for federal income taxes is provided in the accompanying financial statements. 4. INVESTMENTS GREATER THAN FIVE PERCENT OF PLAN ASSETS The following table presents investments that represent five percent or more of the Plan's net assets available for benefits at December 31, 1997 and December 31, 1996:
Market Value December 31, 1997 1996 ------------- -------------- Royce Fund Premier Series . . . . . . . . . $ 593,226 $ 402,422 Weingarten Realty Investors - Common Shares 942,228 687,903 Firstar Institutional Investors GIC Fund. . 860,625 750,554 Davis New York Venture Fund . . . . . . . . 1,508,925 1,089,204 Mutual Series Beacon Fund . . . . . . . . . 1,769,063 1,393,083 Dodge & Cox Balanced Fund . . . . . . . . . 1,947,877 1,518,338
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ITEM 27A - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES, AS OF DECEMBER 31, 1997 IDENTITY OF ISSUE, BORROWER, ISSUER ASSETS HELD OR SIMILAR PARTY - -------------------------------------------------------------- -------------------------------------------- STABLE ASSET. . . . . . . . . . . . . . . . . . . . . . . . . . FIRSTAR INSTITUTIONAL INVESTORS GUARANTEED INVESTMENT CONTRACT INTERMEDIATE BOND . . . . . . . . . . . . . . . . . . . . . . . COLUMBIA FIXED-INCOME SECURITIES FUND, INC. MIXED INVESTMENT. . . . . . . . . . . . . . . . . . . . . . . . DODGE & COX BALANCED FUND GROWTH AND INCOME EQUITY. . . . . . . . . . . . . . . . . . . . MUTUAL SERIES BEACON FUND GROWTH EQUITY . . . . . . . . . . . . . . . . . . . . . . . . . DAVIS NEW YORK VENTURE FUND, INC. AGGRESSIVE GROWTH EQUITY. . . . . . . . . . . . . . . . . . . . ROYCE PREMIER FUND INTERNATIONAL EQUITY. . . . . . . . . . . . . . . . . . . . . . T ROWE PRICE INTERNATIONAL STOCK FUND WEINGARTEN REALTY . . . . . . . . . . . . . . . . . . . . . . . *WEINGARTEN REALTY INVESTORS COMMON STOCK LOAN FUND . . . . . . . . . . . . . . . . . . . . . . . . . . . PARTICIPANT LOANS RECEIVABLE TOTAL ASSETS HELD FOR INVESTMENT PURPOSES *PARTY-IN-INTEREST ITEM 27A - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES, AS OF DECEMBER 31, 1997 DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, COLLATERAL CURRENT ASSETS HELD AND MATURITY VALUE COST VALUE - --------------------------------------------------------------- ------------------------------ --------- -------- STABLE ASSET . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . MUTUAL FUND (45,741.440 UNITS) $ 787,019 $ 860,625 INTERMEDIATE BOND . . . . . . . . . . . . . . . . . . . . . . . MUTUAL FUND (15,926.167 UNITS) 212,787 213,093 MIXED INVESTMENT. . . . . . . . . . . . . . . . . . . . . . . . MUTUAL FUND (29,168.566 UNITS) 1,649,329 1,947,877 GROWTH AND INCOME EQUITY. . . . . . . . . . . . . . . . . . . . MUTUAL FUND (125,287.770 UNITS) 1,636,977 1,769,063 GROWTH EQUITY . . . . . . . . . . . . . . . . . . . . . . . . . MUTUAL FUND (67,573.897 UNITS) 1,070,770 1,508,925 AGGRESSIVE GROWTH EQUITY. . . . . . . . . . . . . . . . . . . . MUTUAL FUND (68,186.852 UNITS) 528,951 593,226 INTERNATIONAL EQUITY. . . . . . . . . . . . . . . . . . . . . . MUTUAL FUND (14,671.833 UNITS) 195,456 196,896 WEINGARTEN REALTY . . . . . . . . . . . . . . . . . . . . . . . COMMON SHARES (21,109 SHARES) 826,084 942,228 COMMON STOCK LOAN FUND . . . . . . . . . . . . . . . . . . . . . . . . . . . DUE SEMIMONTHLY, BEARING INTEREST AT 205,463 205,463 9.25% TO 9.50% TOTAL ASSETS HELD FOR INVESTMENT PURPOSES . . . . . . . $7,112,836 $8,237,396 *PARTY-IN-INTEREST
ITEM 27A - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES, AS OF DECEMBER 31, 1997 (CONTINUED) ASSETS ACQUIRED AND DISPOSED OF WITHIN THE PLAN YEAR - --------------------------------------------------------------- IDENTITY OF ISSUE, BORROWER, ISSUER ASSETS HELD OR SIMILAR PARTY - --------------------------------------------------------------- ------------------------------------------- STABLE ASSET. . . . . . . . . . . . . . . . . . . . . . . . . . FIRSTAR INSTITUTIONAL INVESTORS GIC FUND INTERMEDIATE BOND . . . . . . . . . . . . . . . . . . . . . . . COLUMBIA FIXED-INCOME SECURITIES FUND, INC. MIXED INVESTMENT. . . . . . . . . . . . . . . . . . . . . . . . DODGE & COX BALANCED FUND GROWTH AND INCOME EQUITY. . . . . . . . . . . . . . . . . . . . MUTUAL SERIES BEACON FUND GROWTH EQUITY . . . . . . . . . . . . . . . . . . . . . . . . . DAVIS NEW YORK VENTURE FUND, INC. AGGRESSIVE GROWTH EQUITY. . . . . . . . . . . . . . . . . . . . ROYCE PREMIER FUND INTERNATIONAL EQUITY. . . . . . . . . . . . . . . . . . . . . . T ROWE PRICE INTERNATIONAL STOCK FUND WEINGARTEN REALTY . . . . . . . . . . . . . . . . . . . . . . . *WEINGARTEN REALTY INVESTORS COMMON STOCK *PARTY-IN-INTEREST ITEM 27A - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES, AS OF DECEMBER 31, 1997 (CONTINUED) ASSETS ACQUIRED AND DISPOSED OF WITHIN THE PLAN YEAR - --------------------------------------------------------------- DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, COLLATERAL SALE ASSETS HELD AND MATURITY VALUE C0ST PROCEEDS - ----------------------------------------------------- ---------------------------- -------- -------- STABLE ASSET. . . . . . . . . . . . . . . . . . . . . MUTUAL FUND $217,936 $153,025 INTERMEDIATE BOND . . . . . . . . . . . . . . . . . . MUTUAL FUND 32,814 24,158 MIXED INVESTMENT. . . . . . . . . . . . . . . . . . . MUTUAL FUND 334,974 88,065 GROWTH AND INCOME EQUITY. . . . . . . . . . . . . . . MUTUAL FUND 429,925 179,603 GROWTH EQUITY . . . . . . . . . . . . . . . . . . . . MUTUAL FUND 267,778 168,191 AGGRESSIVE GROWTH EQUITY. . . . . . . . . . . . . . . MUTUAL FUND 193,401 43,556 INTERNATIONAL EQUITY. . . . . . . . . . . . . . . . . MUTUAL FUND 68,579 12,761 WEINGARTEN REALTY . . . . . . . . . . . . . . . . . . COMMON SHARES 218,108 38,938 COMMON STOCK *PARTY-IN-INTEREST
ITEM 27D - SCHEDULE OF REPORTABLE TRANSACTIONS SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY SUPPLEMENTAL SCHEDULE OF FIVE PERCENT REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1997 SINGLE TRANSACTIONS INVOLVING AN AMOUNT IN EXCESS OF FIVE PERCENT OF THE CURRENT VALUE OF PLAN ASSETS - --------------------------------------------------------------------------------------------------------------------------- (NONE NOTED) SERIES OF TRANSACTIONS, WHEN AGGREGATED, INVOLVING AN AMOUNT IN EXCESS OF FIVE PERCENT OF THE CURRENT VALUE OF PLAN ASSETS - ---------------------------------------------------------------------------------------------------------------------------
NUMBER NUMBER TOTAL DOLLAR OF OF VALUE OF TOTAL DOLLAR NET IDENTITY OF PARTY INVOLVED . . . . . . . DESCRIPTION OF ASSET PURCHASES SALES PURCHASES VALUE OF SALES - ---------------------------------------- -------------------- --------- ------------ ------------- --------------- FIRSTAR INSTITUTIONAL INVESTORS GIC FUND MUTUAL FUND 62 19 $ 217,936 $ 153,025 MUTUAL SERIES BEACON FUND. . . . . . . . MUTUAL FUND 55 29 429,925 179,603 DODGE & COX BALANCED FUND. . . . . . . . MUTUAL FUND 60 29 334,974 88,065 DAVIS NEW YORK VENTURE FUND, INC.. . . . MUTUAL FUND 63 24 267,778 168,191 IDENTITY OF PARTY INVOLVED . . . . . . . GAIN/(LOSS) - ---------------------------------------- ------------ FIRSTAR INSTITUTIONAL INVESTORS GIC FUND $ 10,353 MUTUAL SERIES BEACON FUND. . . . . . . . 22,304 DODGE & COX BALANCED FUND. . . . . . . . 13,188 DAVIS NEW YORK VENTURE FUND, INC.. . . . 50,714
EX-24 2 EXHIBIT 24 INDEPENDENT AUDITORS' CONSENT We consent to the incorporation by reference in Post-Effective Amendment No. 1 to Registration Statement No. 33-25581 of the Savings and Investment Plan for Employees of Weingarten Realty on Form S-8 of our report dated June 29, 1998, appearing in this Annual Report on Form 11-K of the Savings and Investment Plan for Employees of Weingarten Realty for the year ended December 31, 1997. DELOITTE & TOUCHE LLP Houston, Texas June 29, 1998 AS -----END PRIVACY-ENHANCED MESSAGE-----