-----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, MdMKRPKNUsYju3kx/VUZvfDEoD0OBnusOCYFvYb6L4rVh+RcfF1zxb/aPSx7EIuc Y9s66ovfbkTtVcmul30DVg== 0000828916-99-000015.txt : 19990630 0000828916-99-000015.hdr.sgml : 19990630 ACCESSION NUMBER: 0000828916-99-000015 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990629 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: 99655478 BUSINESS ADDRESS: STREET 1: 2600 CITADEL PLAZA DR STREET 2: SUITE 300 CITY: HOUSTON STATE: TX ZIP: 77292 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, 1998 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, 1998 and 1997 (3) Statements of Changes in Net Assets Available for Benefits for the Years Ended December 31, 1998 and 1997 (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 29, 1999 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, 1998 and 1997, 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, 1998 and 1997, 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, 1998, and (2) transactions in excess of five percent of the current value of plan assets for the year ended December 31, 1998, 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, 1999 SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 1998 AND 1997
1998 1997 ----------- ---------- ASSETS ------ INVESTMENTS: Mutual Funds $8,099,120 $7,089,705 Common Stock 1,139,455 942,228 Participant Loans Receivable 195,402 205,463 ----------- ---------- TOTAL INVESTMENTS 9,433,977 8,237,396 ----------- ---------- RECEIVABLES: Contributions 131,110 108,097 Loan Interest 1,134 1,761 ----------- ---------- TOTAL RECEIVABLES 132,244 109,858 ----------- ---------- CASH 7,067 ----------- ---------- NET ASSETS AVAILABLE FOR BENEFITS $9,566,221 $8,354,321 ----------- ----------
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, 1998 AND 1997 DECEMBER 31, 1998 SUPPLEMENTAL INFORMATION BY FUND
Growth & Aggressive Stable Intermediate Mixed Income Growth Growth Asset Bond Investment Equity Equity Equity ---------- -------------- ------------ ----------- ----------- ------------ INVESTMENT INCOME: Dividends $ 13,520 $ 187,811 $ 161,590 $ 45,440 $ 570 Money Market Interest Participant Loan Interest $ 2,249 168 4,027 3,072 4,906 1,703 Other NET APPRECIATION (DEPRECIATION) IN FAIR VALUE OF INVESTMENTS 54,928 (481) (47,816) (120,410) 199,650 33,162 CONTRIBUTIONS: Participating Employees 39,281 20,277 166,616 154,758 168,985 88,931 Employer 7,619 5,498 53,878 53,266 56,194 31,751 BENEFITS PAID TO PARTICIPANTS (118,728) (25,287) (70,536) (66,699) (35,461) (69,526) PARTICIPANT LOANS 3,584 (535) (17,172) 1,797 (11,958) 623 ADMINISTRATIVE FEES (1,850) FUND TRANSFERS 143,104 24,245 3,858 (243,039) 89,220 26,734 - --------------------------------------------------------------------------------------------------------------------- INCREASE (DECREASE) IN NET ASSETS AVAILABLE FOR BENEFITS 130,187 37,405 280,666 (55,665) 516,976 113,948 NET ASSETS AVAILABLE FOR BENEFITS, BEGINNING OF PERIOD 868,754 215,614 1,963,692 1,798,105 1,532,461 606,758 - --------------------------------------------------------------------------------------------------------------------- NET ASSETS AVAILABLE FOR BENEFITS, END OF PERIOD $ 998,941 $ 253,019 $ 2,244,358 $1,742,440 $2,049,437 $ 720,706 ===================================================================================================================== Weingarten International Realty Loan Equity Common Stock Fund Total --------------- -------------- --------- ----------- INVESTMENT INCOME: Dividends $ 7,616 $ 61,787 $ 478,334 Money Market Interest 0 Participant Loan Interest 560 1,645 18,330 Other 1,672 1,672 NET APPRECIATION (DEPRECIATION) 22,241 9,034 150,308 IN FAIR VALUE OF INVESTMENTS CONTRIBUTIONS: Participating Employees 34,941 142,241 816,030 Employer 11,891 46,494 266,591 BENEFITS PAID TO PARTICIPANTS (28,012) (91,697) $(12,121) (518,067) PARTICIPANT LOANS 1,824 19,777 2,060 0 ADMINISTRATIVE FEES 552 (1,298) FUND TRANSFERS (37,618) (6,504) 0 - -------------------------------------------------------------------------------------------- INCREASE (DECREASE) IN NET ASSETS AVAILABLE FOR BENEFITS 13,443 185,001 (10,061) 1,211,900 NET ASSETS AVAILABLE FOR BENEFITS, BEGINNING OF PERIOD 200,960 962,514 205,463 8,354,321 - -------------------------------------------------------------------------------------------- NET ASSETS AVAILABLE FOR BENEFITS, END OF PERIOD $ 214,403 $ 1,147,515 $195,402 $9,566,221 ============================================================================================
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, 1998 AND 1997 (CONTINUED) 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 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 made during the years ended 1998 and 1997. 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 nondeductible 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 accounts. 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 - A description of the available investment options follows: - ------------------- (a) 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; (b) 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; (c) 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; (d) 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; (e) 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; (f) Aggressive Growth Equity Fund - a fund invested in the Royce Premier Fund (through April 30, 1998) and the Baron Asset Fund which invests in common stocks and convertible securities in companies with perceived long-term growth potential; (g) 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 (h) Weingarten Realty Common Stock - a fund invested in common shares of beneficial interest of WRI purchased on the open market. At December 31, 1998 and 1997, there were 193 and 164 participants, respectively, who had their contributions allocated as follows:
Number of Participants December December 1998 1997 -------- -------- Stable Asset Fund. . . . . . . 56 52 Intermediate Bond Fund . . . . 43 38 Mixed Investment Fund. . . . . 116 106 Growth and Income Equity Fund. 108 99 Growth Equity Fund . . . . . . 122 101 Aggressive Growth Equity Fund. 82 68 International Equity Fund. . . 47 44 Weingarten Realty Common Stock 84 69
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, 1998 and December 31, 1997:
Market Value December 31, 1998 1997 ------------ ----------- Royce Fund Premier Series $ 0 $ 593,226 Weingarten Realty Investors - Common Shares 1,139,455 942,228 Firstar Institutional Investors GIC Fund 989,714 860,625 Davis New York Venture Fund 2,017,855 1,508,925 Mutual Series Beacon Fund 1,712,796 1,769,063 Dodge & Cox Balanced Fund 2,218,277 1,947,877 Baron Asset Fund 702,926 ---
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ITEM 27A - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES EIN # 74-1464203 SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES, AS OF DECEMBER 31, 1998 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 BARON ASSET 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 EIN # 74-1464203 SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES, AS OF DECEMBER 31, 1998 DESCRIPTION OF INVESTMENT INCLUDING MATURITY DATE, RATE OF INTEREST, COLLATERAL CURRENT ASSETS HELD AND MATURITY VALUE COST VALUE - --------------------------------------------------------------- ------------------------------ --------- -------- STABLE ASSET MUTUAL FUND (49,634.602 UNITS) $ 886,233 $ 989,714 INTERMEDIATE BOND MUTUAL FUND (18,576.896 UNITS) 249,059 249,302 MIXED INVESTMENT MUTUAL FUND (34,012.221 UNITS) 1,995,501 2,218,277 GROWTH AND INCOME EQUITY MUTUAL FUND (130,548.444 UNITS) 1,724,247 1,712,796 GROWTH EQUITY MUTUAL FUND (80,681.934 UNITS) 1,423,383 2,017,855 AGGRESSIVE GROWTH EQUITY MUTUAL FUND (13,908.302 UNITS) 724,578 702,926 INTERNATIONAL EQUITY MUTUAL FUND (13,892.621 UNITS) 189,555 208,250 WEINGARTEN REALTY COMMON SHARES (25,534 SHARES) 1,019,819 1,139,455 COMMON STOCK LOAN FUND DUE SEMIMONTHLY, BEARING INTEREST AT 195,402 195,402 9.25% TO 9.50% TOTAL ASSETS HELD FOR INVESTMENT PURPOSES $8,407,777 $9,433,977 *PARTY-IN-INTEREST
ITEM 27A - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES EIN #74-1464203 SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES, FOR THE YEAR ENDED DECEMBER 31, 1998 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 BARON ASSET 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 EIN #74-1464203 SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES, FOR THE YEAR ENDED DECEMBER 31, 1998 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 $303,947 $228,546 INTERMEDIATE BOND MUTUAL FUND 65,439 29,227 MIXED INVESTMENT MUTUAL FUND 488,452 170,236 GROWTH AND INCOME EQUITY MUTUAL FUND 407,454 343,332 GROWTH EQUITY MUTUAL FUND 466,632 157,639 AGGRESSIVE GROWTH EQUITY MUTUAL FUND 34,373 689,872 MUTUAL FUND 794,791 62,712 INTERNATIONAL EQUITY MUTUAL FUND 61,488 72,374 WEINGARTEN REALTY COMMON SHARES 316,329 136,127 COMMON STOCK *PARTY-IN-INTEREST
ITEM 27D - SCHEDULE OF REPORTABLE TRANSACTIONS EIN #74-1464203 SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY SUPPLEMENTAL SCHEDULE OF FIVE PERCENT REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1998 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 DESCRIPTION OF OF VALUE OF TOTAL DOLLAR IDENTITY OF PARTY INVOLVED . . . . . . . OF ASSET PURCHASES SALES PURCHASES VALUE OF SALES - ---------------------------------------- ------------- --------- -------- ------------- -------------- FIRSTAR INSTITUTIONAL INVESTORS GIC FUND MUTUAL FUND 74 19 $ 303,947 $ 228,546 MUTUAL SERIES BEACON FUND MUTUAL FUND 86 25 407,454 343,322 DODGE & COX BALANCED FUND MUTUAL FUND 87 26 488,452 170,236 DAVIS NEW YORK VENTURE FUND, INC. MUTUAL FUND 89 23 466,632 157,639 BARON ASSET FUND MUTUAL FUND 1 0 794,791 62,712 IDENTITY OF PARTY INVOLVED . . . . . . . GAIN/(LOSS) - ---------------------------------------- ------------ FIRSTAR INSTITUTIONAL INVESTORS GIC FUND $ 23,813 MUTUAL SERIES BEACON FUND 23,149 DODGE & COX BALANCED FUND 27,955 DAVIS NEW YORK VENTURE FUND, INC. 43,621 BARON ASSET FUND 7,502
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, 1999, 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, 1998. DELOITTE & TOUCHE LLP Houston, Texas June 29, 1999 -----END PRIVACY-ENHANCED MESSAGE-----