<PAGE> 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 period from December 1, 1992 through December 31, 1993
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)
<PAGE> 2
Item 1. Changes in the Plan
Effective January 1, 1993, the Plan's year end was changed from
November 30 to December 31.
Item 2. Changes in Investment Policy
None
Item 3. Contributions Under the Plan
The Savings and Investment Plan for Employees of Weingarten Realty
(the "Plan") operates as a profit sharing plan under which Weingarten
Realty Investors (the "Company" or "WRI") determines, at its
discretion, the level of employer contributions to the Plan. For the
past three periods, employer contributions (excluding employee
rollover contributions, any employee after-tax contributions and
employee salary deferrals under the Plan's Code Section 401(k) cash or
deferred arrangement) in the following amounts have been made to the
Plan:
Company
Period Contributions
------ -------------
December 1, 1992 - December 31, 1993 $179,816
December 1, 1991 - November 30, 1992 120,791
December 1, 1990 - November 30, 1991 111,792
Item 4. Participating Employees
As of December 31, 1993, approximately 115 employees were eligible to
participate in the Plan and 112 employees were participants in the
Plan.
Item 5. Administration of the Plan
The Plan is administered by the Company (the "Plan Administrator") and
the Trustees.
The Plan Administrator serves without compensation.
2
<PAGE> 3
The Trustees of the Plan, effective March 20, 1989, are Martin
Debrovner, Trust Manager, President and Chief Operating Officer of WRI
and Director of Weingarten Realty Management Company, and Stephen C.
Richter, Vice President and Treasurer of WRI. The Trustees serve
without compensation.
The mailing address of the Plan Administrator and the Trustees is 2600
Citadel Plaza Drive, Suite 300, Houston, Texas 77008.
Item 6. Custodian of Investments
The custodian of the assets held by the trust fund created under the
Plan is Dean Witter Reynolds, Inc., 4975 Preston Park Blvd., Suite
500, Plano, Texas 75903-9948. During the period from December 1, 1992
to December 31, 1993, Dean Witter Reynolds, Inc., received a total of
$35,483 in compensation from the Plan. Dean Witter Reynolds, Inc.,
provides the Plan with insurance protection, up to $25 million, in
connection with the custody of the security investments or other
assets held under the provisions of the Plan.
Item 7. Reports to Participating Employees
Each year, employees eligible to participate in the Plan are given a
Summary Annual Report of the Plan, which presents a basic financial
statement of the Plan, including the value of the Plan's assets,
expenses and income. The Summary Annual Report advises the
participants of their rights to receive additional information about
the Plan.
In addition to the Summary Annual Report, at least once each year
participants receive statements regarding their individual accounts
under the Plan, which reflect, in part, the sources of contributions
to, the investments in, and the vested portion of each account.
Item 8. Investment of Funds
The Plan has paid the following in brokerage commissions during the
three most recent periods:
Period
------
December 1, 1992 - December 31, 1993 $28,654
December 1, 1991 - November 30, 1992 12,108
December 1, 1990 - November 30, 1991 13,119
3
<PAGE> 4
Item 9. Financial Statements and Exhibits
(a) Financial statements.
(1) Independent Auditors' Report.
(2) Statements of Net Assets Available for Benefits as of
December 31, 1993 and November 30, 1992.
(3) Statements of Changes in Net Assets Available for
Benefits for the Period from December 1, 1992 to
December 31, 1993 and for the Year Ended November 30,
1992.
(4) Notes to Financial Statements.
(5) Supplemental Schedules of Assets Held for Investment
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.
23.1 - Consent of Deloitte & Touche
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 28, 1994 By: /s/ STANFORD ALEXANDER
Stanford Alexander, Chairman/
Chief Executive Officer
4
<PAGE> 5
INDEPENDENT AUDITORS' REPORT
Savings and Investment Plan for Employees of Weingarten Realty:
We have audited, by fund and 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, 1993 and November 30,
1992, and the related statements of changes in net assets available for
benefits for the period from December 1, 1992 to December 31, 1993 and for the
year ended November 30, 1992. These financial statements are the
responsibility of the Plan's administrators. 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, by fund and in total,
in all material respects, the net assets available for benefits of the Plan as
of December 31, 1993 and November 30, 1992, and the changes in net assets
available for benefits for the period from December 1, 1992 to December 31,
1993 and for the year ended November 30, 1992 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 accompanying supplemental schedules
of (1) assets held for investment as of December 31, 1993 and (2) transactions
in excess of five percent of the current value of plan assets for the period
ended December 31, 1993 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 of Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. These schedules are the responsibility of the Plan's
administrators. Such schedules have been subjected to the auditing procedures
applied in our audit of the basic 1993 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
Houston, Texas
April 7, 1994
5
<PAGE> 6
SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY
------------------------------
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS OF DECEMBER 31, 1993 AND
NOVEMBER 30, 1992
<TABLE>
<CAPTION>
December 31,
1993
------------------------------------------------------------------------
Balanced Equity Money Market WRI Shares
Fund Fund Fund Fund Total
---------- -------- ------------ ---------- ----------
<S> <C> <C> <C> <C> <C>
ASSETS:
INVESTMENTS:
Money Market Fund $158,961 $136,436 $12,669 $3,968 $312,034
Guaranteed Investment
Contracts 325,682 325,682
Common & Preferred Stock 1,109,928 693,647 663,000 2,466,575
Bonds 584,000 584,000
---------- -------- -------- -------- ----------
TOTAL INVESTMENTS 1,852,889 830,083 338,351 666,968 3,688,291
---------- -------- -------- -------- ----------
RECEIVABLES:
Dividends and Interest 14,511 358 14,869
Contributions 37,820 33,689 6,755 18,798 97,062
Due From Other Fund 49,746 1,262 51,008
---------- -------- -------- -------- ----------
TOTAL RECEIVABLES 52,331 34,047 56,501 20,060 162,939
---------- -------- -------- -------- ----------
TOTAL 1,905,220 864,130 394,852 687,028 3,851,230
---------- -------- -------- -------- ----------
LIABILITIES:
PAYABLE TO TERMINATED
EMPLOYEES
DUE TO OTHER FUND 30,814 20,194 51,008
---------- -------- -------- -------- ----------
TOTAL LIABILITIES 30,814 20,194 51,008
---------- -------- -------- -------- ----------
NET ASSETS AVAILABLE
FOR BENEFITS $1,874,406 $843,936 $394,852 $687,028 $3,800,222
========== ======== ======== ======== ==========
</TABLE>
<TABLE>
<CAPTION>
November 30,
1992
---------------------------------------------------------
Balanced Money Market WRI Shares
Fund Fund Fund Total
---------- ------------ ---------- ----------
<S> <C> <C> <C> <C>
ASSETS:
INVESTMENTS:
Money Market Fund $220,356 $9,203 $1,929 $231,488
Guaranteed Investment
Contracts 592,259 592,259
Common & Preferred Stock 852,293 498,775 1,351,068
Bonds 555,843 555,843
---------- -------- -------- ----------
TOTAL INVESTMENTS 1,628,492 601,462 500,704 2,730,658
---------- -------- -------- ----------
RECEIVABLES:
Dividends and Interest 13,335 7,166 20,501
Contributions 82,123 27,100 20,749 129,972
Due From Other Fund 317 927 1,244
---------- -------- -------- ----------
TOTAL RECEIVABLES 95,775 27,100 28,842 151,717
---------- -------- -------- ----------
TOTAL 1,724,267 628,562 529,546 2,882,375
---------- -------- -------- ----------
LIABILITIES:
PAYABLE TO TERMINATED
EMPLOYEES 118 8,685 117 8,920
DUE TO OTHER FUND 1,244 1,244
---------- -------- -------- ----------
TOTAL LIABILITIES 118 9,929 117 10,164
---------- -------- -------- ----------
NET ASSETS AVAILABLE
FOR BENEFITS $1,724,149 $618,633 $529,429 $2,872,211
========== ======== ======== ==========
</TABLE>
See Notes to Financial Statements
6
<PAGE> 7
SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY
------------------------------
STATEMENTS OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE PERIOD
FROM DECEMBER 1, 1992 TO DECEMBER 31, 1993 AND FOR THE YEAR ENDED
NOVEMBER 30, 1992
<TABLE>
<CAPTION>
December 31,
1993
------------------------------------------------------------------------
Balanced Equity Money Market WRI Shares
Fund Fund Fund Fund Total
---------- -------- ----------- ---------- ----------
<S> <C> <C> <C> <C> <C>
INVESTMENT INCOME:
Dividends $7,708 $3,452 $32,854 $44,014
Interest 54,518 3,422 $697 419 59,056
NET APPRECIATION
IN FAIR VALUE OF
INVESTMENTS
134,353 65,917 25,638 12,794 238,702
CONTRIBUTIONS:
Participating Employees 179,272 124,461 34,944 98,589 437,266
Employer 75,042 52,145 12,352 40,277 179,816
WITHDRAWALS (683) (19,196) (4,125) (9) (24,013)
ADMINISTRATIVE EXPENSES (3,680) (1,581) (1,522) (47) (6,830)
FUND TRANSFERS (296,273) 615,316 (291,765) (27,278)
---------- -------- -------- -------- ----------
INCREASE/(DECREASE) IN
NET ASSETS AVAILABLE
FOR BENEFITS 150,257 843,936 (223,781) 157,599 928,011
NET ASSETS AVAILABLE
FOR BENEFITS, BEGINNING
OF PERIOD 1,724,149 618,633 529,429 2,872,211
---------- -------- -------- -------- ----------
NET ASSETS AVAILABLE
FOR BENEFITS, END
OF PERIOD $1,874,406 $843,936 $394,852 $687,028 $3,800,222
========== ======== ======== ======== ==========
</TABLE>
<TABLE>
<CAPTION>
November 30,
1992
---------------------------------------------------------
Balanced Money Market WRI Shares
Fund Fund Fund Total
---------- ------------ ---------- ----------
<S> <C> <C> <C> <C>
INVESTMENT INCOME:
Dividends $9,317 $26,214 $35,531
Interest 51,333 $373 226 51,932
NET APPRECIATION
IN FAIR VALUE OF
INVESTMENTS
150,929 41,531 76,031 268,491
CONTRIBUTIONS:
Participating Employees 167,454 73,866 45,219 286,539
Employer 76,795 24,592 19,404 120,791
WITHDRAWALS (13,760) (47,235) (15,085) (76,080)
ADMINISTRATIVE EXPENSES (100) (3,029) (100) (3,229)
FUND TRANSFERS 19,424 (73,541) 54,117
---------- -------- -------- ----------
INCREASE/(DECREASE) IN
NET ASSETS AVAILABLE
FOR BENEFITS 461,392 16,557 206,026 683,975
NET ASSETS AVAILABLE
FOR BENEFITS, BEGINNING
OF PERIOD 1,262,757 602,076 323,403 2,188,236
---------- -------- -------- ----------
NET ASSETS AVAILABLE
FOR BENEFITS, END
OF PERIOD $1,724,149 $618,633 $529,429 $2,872,211
========== ======== ======== ==========
</TABLE>
See Notes to Financial Statements
7
<PAGE> 8
SAVINGS AND INVESTMENT PLAN FOR
EMPLOYEES OF WEINGARTEN REALTY
Notes to Financial Statements
For the Period from December 1, 1992 to December 31, 1993 and
The Year Ended November 30, 1992
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 "Companies."
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. The accompanying financial statements of the Plan are
presented on the accrual basis; accordingly, memorandum entries are
made to the accounting records to reflect the accrual for dividend and
interest income, contributions by the Companies and participants, and
withdrawals by participants.
Investments are generally carried at their quoted market value.
Average cost is used to determine the cost of investments sold or
redeemed.
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 amended on January 1, 1993.
Eligibility- All employees are eligible to participate in the Plan
after completing one year of eligibility service and attaining 21
years of age.
Participant Contributions - Participants may contribute 1% to 9% of
their annual paid compensation as salary reduction contributions.
Such contributions are generally made through regular payroll
withholdings and reduce the amount of the participant's compensation
subject to federal income tax.
8
<PAGE> 9
Employer Contributions - The Company may make annual 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 cannot exceed 50% of the above-described maximum
amount for all participants. The employer's matching contribution is
generally allocated to the individual participant's accounts based
upon 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 on page 10) 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 upon the ratio of the
participant's compensation to the compensation of all participants
during the year. No discretionary contributions will be invested in
the WRI Shares Fund. No discretionary contributions were made during
the periods ended 1993 and 1992. Employer contributions for the
period from December 1, 1992 to December 31, 1993 and the year ended
November 30, 1992 were as follows:
Weingarten Realty Weingarten Realty
Period Ended Management Company Investors
------------ ------------------ -----------------
December 31, 1993 $179,816
November 30, 1992 $104,398 16,393
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.
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.
9
<PAGE> 10
Participants may withdraw all of their vested account balances upon
attaining the age of 59 1/2. Upon withdrawal, participants forfeit
amounts in the Plan allocated to them for which they have not vested.
Forfeitures during the year are used to reduce the amount required by
the employers' matching contributions.
Investment Options - Beginning January 1, 1993, an additional
investment option, the Equity Fund, was made available to plan
participants. Participants may direct their portion of the Plan
assets into:
(a) Money Market Fund, a fund invested in cash equivalents having
ready marketability, such as U.S. Treasury Bills, commercial
papers, guaranteed investment contracts, certificates of
deposits and similar short-term securities;
(b) Balanced Fund, a fund of common stocks (excluding WRI, except
through shares held in a commingled fund), preferred stocks,
bonds, convertible securities and other similar types of
investments, including mutual funds;
(c) WRI Shares Fund, a fund invested in common shares of
beneficial interest of WRI purchased on the open market; and
(d) Equity Fund, a fund of common stocks (excluding WRI, except
through shares held in a commingled fund) and preferred
stocks.
At December 31, 1993 and November 30, 1992, there were 112 and 90
participants, respectively, who had invested their contributions as
follows:
Number of Participants
December November
Investment Fund 1993 1992
--------------- ----------- -----------
Money Market Fund 23 49
Balanced Fund 87 72
WRI Shares Fund 56 38
Equity Fund 64
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.
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.
10
<PAGE> 11
3. FEDERAL INCOME TAXES
The Plan was amended January 1, 1993 to provide an additional
investment option (the Equity Fund) and to change the plan year end
from November 30 to December 31. Before such amendment, the Plan
received a ruling 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.
Under existing federal income tax laws, neither the employers'
contributions nor any income accruing to a participant's accounts is
subject to income tax until either a portion of or the entire balance
in the participant's accounts is withdrawn. Withdrawals may be
subject to withholding for federal income taxes.
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, 1993 and November 30, 1992:
<TABLE>
<CAPTION>
Current Value Current Value
1993 1992
-------------- -------------
<S> <C> <C>
Dean Witter Reynolds, Inc.
Active Assets Money Trust $ 299,365 $ 258,153
First Mercantile Trust Company
Institutional Investors Guaranteed
Investment Contract Fund 325,682 607,685
Weingarten Realty Investors -
Common Shares 663,000 521,906
---------- ----------
$1,288,047 $1,387,744
========== ==========
</TABLE>
11
<PAGE> 12
5. NET APPRECIATION OF INVESTMENTS
The net appreciation in fair value, including realized gains or
losses, for each significant class of investments is summarized as
follows:
<TABLE>
<CAPTION>
PERIOD ENDED
DECEMBER 1993
-----------------------------------------------------------------------
Guaranteed
Common Bonds Weingarten Investment
Stock and Notes Common Shares Contracts Total
-----------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Proceeds from the Sale
of Investments and the
Fair Value of Investments,
End of Period $2,728,661 $637,282 $721,548 $950,981 $5,038,472
Cost of Investments Purchased
and the Fair Value of
Investments, Beginning
of Period 2,559,082 606,591 708,754 925,343 4,799,770
---------- -------- -------- -------- ----------
Net Change During Period $ 169,579 $ 30,691 $ 12,794 $ 25,638 $ 238,702
========== ======== ======== ======== ==========
</TABLE>
<TABLE>
<CAPTION>
YEAR ENDED
NOVEMBER 1992
-----------------------------------------------------------------------
Guaranteed
Common Bonds Weingarten Investment
Stock and Notes Common Shares Contracts Total
-----------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Proceeds from the Sale
of Investments and the
Fair Value of Investments,
End of Year $1,275,787 $605,844 $498,775 $670,259 $3,050,665
Cost of Investments Purchased
and the Fair Value of
Investments, Beginning
of Year 1,130,475 600,227 422,744 628,728 2,782,174
---------- -------- -------- -------- ----------
Net Change During Year $ 145,312 $ 5,617 $ 76,031 $ 41,531 $ 268,491
========== ======== ======== ======== ==========
</TABLE>
12
<PAGE> 13
6. CHANGES IN THE PLAN
Effective January 1, 1993, the Plan's year end was changed from
November 30 to December 31. Changes in net assets available for
benefits for the month ended December 31, 1992 are as follows:
<TABLE>
<CAPTION>
Money WRI
Balanced Market Shares
Fund Fund Fund Total
-------- ------ -------- ---------
<S> <C> <C> <C> <C>
INVESTMENT INCOME:
Dividends $ 45 $ 45
Interest 3,925 $ 26 $ 17 3,968
NET APPRECIATION
IN FAIR VALUE
OF INVESTMENTS 17,572 3,426 15,668 36,666
CONTRIBUTIONS:
Participating Employees 30,412 9,105 6,246 45,763
Employer 13,067 3,289 2,646 19,002
WITHDRAWALS (4,125) (8) (4,133)
FUND TRANSFERS 3,737 (2,447) (1,290)
------- ------- ------- --------
INCREASE IN NET ASSETS
AVAILABLE FOR BENEFITS $68,758 $ 9,274 $23,279 $101,311
======= ======= ======= ========
</TABLE>
13
<PAGE> 14
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY
SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT,
DECEMBER 31, 1993
<TABLE>
<CAPTION>
ASSETS HELD
- - -----------
DESCRIPTION OF INVESTMENT INCLUDING
IDENTITY OF ISSUE, BORROWER, MATURITY DATE, RATE OF INTEREST, CURRENT
ISSUER OR SIMILAR PARTY COLLATERAL AND MATURITY VALUE COST VALUE
------------------------------ ------------------------------------ --------- ----------
<S> <C> <C> <C> <C>
BALANCED FUND Abbott Laboratories Common Stock (1,000 Shares) $ 26,238 $ 29,625
Albertson's, Inc. Common Stock (1,700 Shares) 41,331 45,475
American Greetings Common Stock (1,350 Shares) 43,511 45,900
Applied Materials, Inc. Common Stock (1,400 Shares) 43,126 54,250
Arrow Electronics, Inc. Common Stock (1,275 Shares) 41,901 53,231
Autozone, Inc. Common Stock ( 920 Shares) 35,650 52,670
Bombay Company Common Stock (1,000 Shares) 43,601 45,000
Brinker International, Inc. Common Stock (1,800 Shares) 50,400 82,800
Circuit City Stores, Inc. Common Stock (1,400 Shares) 43,171 30,450
Clayton Homes, Inc. Common Stock (2,500 Shares) 48,779 60,625
Cracker Barrel Common Stock (1,608 Shares) 49,044 44,220
Doctor Pepper 7Up Company Common Stock (1,900 Shares) 45,363 45,600
Dollar General Corporation Common Stock (2,250 Shares) 50,476 67,500
Electronic Arts, Inc. Common Stock (1,600 Shares) 48,104 48,000
Federal National Mortgage Association Common Stock ( 500 Shares) 37,000 39,250
Heilig-Meyers Company Common Stock (1,300 Shares) 43,741 50,700
MCI Communications Common Stock (1,500 Shares) 43,415 42,375
Sofamor/Danek Group, Inc. Common Stock (1,400 Shares) 43,171 46,550
Southwest Airlines Co. Common Stock (2,100 Shares) 37,450 78,488
Stewart & Stevenson Services, Inc. Common Stock (1,200 Shares) 42,428 61,500
Synoptics Communications Common Stock (1,450 Shares) 42,530 40,419
Zebra Tech Class A Common Stock ( 800 Shares) 44,800 45,300
-------- ----------
Total Common Stock $945,230 $1,109,928
-------- ----------
Consolidated Natural Gas Company Debenture - matures 10-1998, 5.875%,
$25,000 maturity value 23,813 25,156
E.I. du Pont de Nemours and Company Debenture - matures 03-2004, 8.125%,
$50,000 maturity value 52,313 57,000
Eastman Kodak Company Bond - matures 03-2003, 9.375%,
$25,000 maturity value 27,313 29,938
</TABLE>
14
<PAGE> 15
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY
SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT,
DECEMBER 31, 1993 (CONTINUED)
<TABLE>
<CAPTION>
ASSETS HELD
- - -----------
DESCRIPTION OF INVESTMENT INCLUDING
IDENTITY OF ISSUE, BORROWER, MATURITY DATE, RATE OF INTEREST, CURRENT
ISSUER OR SIMILAR PARTY COLLATERAL AND MATURITY VALUE COST VALUE
------------------------------ ------------------------------------ --------- ----------
<S> <C> <C> <C> <C>
FNMA Bond - matures 12-2000, 8.250%
$50,000 maturity value $ 53,000 $ 57,186
Mobil Corporation Registered Bond - matures 02-2001,
8.375%, $50,000 maturity value 53,375 57,313
NationsBank Corporation Senior Note - matures 01-1998,
6.625%, $50,000 maturity value 50,747 52,375
Philip Morris Companies, Inc. Note - matures 03-1999, 8.625%,
$25,000 maturity value 26,594 28,156
Texaco Capital Registered Note - matures 02-2003,
8.500%, $50,000 maturity value 53,125 57,438
Wal-Mart Stores, Inc. Note - matures 04-2001, 8.625%,
$50,000 maturity value 53,250 58,063
Warner-Lambert Company Bond - matures 09-1998, 8.000%,
$50,000 maturity value 52,813 55,000
U.S. Treasury Bond Bond - matures 08-2000, 8.375%,
$100,000 maturity value 107,000 106,375
---------- ----------
Total Bonds and Notes 553,343 584,000
---------- ----------
Short-Term Investment Funds -
*Dean Witter Reynolds, Inc. Active Assets Money Trust 158,961 158,961
---------- ----------
Total Assets Held for Investment -
Balanced Fund $1,657,534 $1,852,889
========== ==========
</TABLE>
_____________________
* Party-in-interest
15
<PAGE> 16
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY
SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT,
DECEMBER 31, 1993 (CONTINUED)
<TABLE>
<CAPTION>
ASSETS HELD
- - -----------
DESCRIPTION OF INVESTMENT INCLUDING
IDENTITY OF ISSUE, BORROWER, MATURITY DATE, RATE OF INTEREST, CURRENT
ISSUER OR SIMILAR PARTY COLLATERAL AND MATURITY VALUE COST VALUE
------------------------------ ------------------------------------ --------- ----------
<S> <C> <C> <C> <C>
EQUITY FUND Abbott Laboratories Common Stock ( 625 Shares) $ 16,437 $ 18,516
Albertson's, Inc. Common Stock ( 900 Shares) 24,972 24,075
American Greetings Common Stock ( 825 Shares) 26,668 28,050
Applied Materials, Inc. Common Stock (1,350 Shares) 26,165 52,313
Arrow Electronics, Inc. Common Stock ( 775 Shares) 25,535 32,356
Autozone, Inc Common Stock ( 600 Shares) 25,980 34,350
Bombay Company Common Stock ( 675 Shares) 29,431 30,375
Brinker International, Inc. Common Stock ( 900 Shares) 25,527 41,400
Circuit City Stores, Inc. Common Stock ( 825 Shares) 25,525 17,944
Clayton Homes, Inc. Common Stock (1 312 Shares) 24,778 31,816
Cracker Barrel Common Stock ( 900 Shares) 27,136 24,750
Doctor Pepper 7Up Company Common Stock (1,200 Shares) 28,650 28,800
Dollar General Corporation Common Stock (1,250 Shares) 28,378 37,500
Electronic Arts, Inc. Common Stock ( 875 Shares) 25,952 26,250
Federal National Mortgage Association Common Stock ( 325 Shares) 26,005 25,513
Heilig-Meyers Company Common Stock ( 850 Shares) 28,600 33,150
MCI Communications Common Stock ( 900 Shares) 25,199 25,425
Panhandle Eastern Corporation Common Stock (1,100 Shares) 26,633 26,125
Sofamor/Danek Group, Inc. Common Stock ( 675 Shares) 26,845 22,444
Southwest Airlines Co. Common Stock (1,050 Shares) 25,887 39,244
</TABLE>
16
<PAGE> 17
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY
SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT,
DECEMBER 31, 1993 (CONTINUED)
<TABLE>
<CAPTION>
ASSETS HELD
- - -----------
DESCRIPTION OF INVESTMENT INCLUDING
IDENTITY OF ISSUE, BORROWER, MATURITY DATE, RATE OF INTEREST, CURRENT
ISSUER OR SIMILAR PARTY COLLATERAL AND MATURITY VALUE COST VALUE
------------------------------ ------------------------------------ --------- ----------
<S> <C> <C> <C> <C>
EQUITY FUND Stewart & Stevenson Services, Inc. Common Stock ( 750 Shares) $ 27,746 $ 38,435
Synoptics Communications Common Stock ( 900 Shares) 26,456 25,088
Zebra Tech Class A Common Stock ( 525 Shares) 29,400 29,728
-------- --------
Total Common Stock 603,905 693,647
-------- --------
Short-Term Investment Funds -
*Dean Witter Reynolds, Inc. Active Assets Money Trust 136,436 136,436
-------- --------
Total Assets Held for Investment -
Equity Fund $740,341 $830,083
======== ========
WRI STOCK FUND *Weingarten Realty Investors Common Shares (17,680 Shares) $637,223 $663,000
-------- --------
Short-Term Investment Funds -
*Dean Witter Reynolds, Inc. Active Assets Money Trust 3,968 3,968
-------- --------
Total Assets Held for Investment -
WRI Stock Fund $641,191 $666,968
======== ========
MONEY MARKET FUND Interest in Pooled Funds -
First Mercantile Trust Company Institutional Investors Guaranteed
Investment Contract Fund $321,084 $325,682
-------- --------
Short-Term Investment Funds -
First Mercantile Trust Money
Market Fund 12,669 12,669
-------- --------
Total Assets Held for Investment -
Money Market Fund $333,753 $338,351
======== ========
</TABLE>
_____________________
* Party-in-interest
17
<PAGE> 18
ITEM 30a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY
SUPPLEMENTAL SCHEDULE OF ASSETS HELD FOR INVESTMENT,
DECEMBER 31, 1993 (CONTINUED)
<TABLE>
<CAPTION>
ASSETS ACQUIRED AND DISPOSED OF WITHIN THE PERIOD ENDED DECEMBER 31, 1993
- - ------------------------------------------------------------------------
DESCRIPTION OF INVESTMENT INCLUDING
IDENTITY OF ISSUE, BORROWER, MATURITY DATE, RATE OF INTEREST, CURRENT
ISSUER OR SIMILAR PARTY COLLATERAL AND MATURITY VALUE COST VALUE
------------------------------ ------------------------------------ --------- ---------
<S> <C> <C> <C> <C>
BALANCED FUND Cabletron System, Inc. Common Stock, ( 450 Shares) $ 37,604 $ 47,745
Ferro Corporation Common Stock, (1,325 Shares) 47,216 44,973
Stewart and Stevenson Services, Inc. Common Stock, ( 200 Shares) 7,071 9,799
Century Telephone Enterprises, Inc. Common Stock, (1,500 Shares) 46,994 36,192
EQUITY FUND Century Telephone Enterprises, Inc. Common Stock, ( 825 Shares) $ 25,887 $ 19,906
Giddings & Lewis, Inc. Common Stock, (1,000 Shares) 26,363 24,750
International Flavors & Fragrances, Inc. Common Stock, ( 200 Shares) 23,313 21,785
Nike, Inc. Common Stock, ( 325 Shares) 25,313 15,640
Suntrust Common Stock, ( 550 Shares) 25,575 25,226
The Home Depot, Inc. Common Stock, ( 533 Shares) 25,662 21,993
Cabletron System, Inc. Common Stock, ( 300 Shares) 25,048 31,856
Ferro Corporation Common Stock, ( 925 Shares) 25,808 27,705
The Interpublic Group of Companies, Inc. Common Stock, ( 800 Shares) 25,643 22,573
Sigma Aldrich Corporation Common Stock, ( 500 Shares) 25,569 24,186
Wal-Mart Stores, Inc. Common Stock, ( 750 Shares) 25,290 20,026
</TABLE>
18
<PAGE> 19
ITEM 30d - SCHEDULE OF REPORTABLE TRANSACTIONS
SAVINGS AND INVESTMENT PLAN FOR EMPLOYEES OF WEINGARTEN REALTY
SUPPLEMENTAL SCHEDULE OF FIVE PERCENT REPORTABLE TRANSACTIONS
FOR THE PERIOD ENDED DECEMBER 31, 1993
SINGLE TRANSACTIONS INVOLVING AN AMOUNT IN EXCESS OF FIVE PERCENT OF THE
CURRENT VALUE OF PLAN ASSETS
<TABLE>
<CAPTION>
PURCHASE SELLING COST OF
IDENTITY OF PARTY INVOLVED DESCRIPTION OF ASSET PRICE PRICE ASSET NET GAIN
- - -------------------------- -------------------- -------- ------- ------- --------
<S> <C> <C> <C> <C> <C>
Interest in Pooled Funds Guaranteed Investment
Contracts $305,528
Interest in Pooled Funds Guaranteed Investment
Contracts $316,214 $311,732 $4,482
Interest in Pooled Funds Guaranteed Investment
Contracts $305,528 $301,060 $4,468
</TABLE>
SERIES OF TRANSACTIONS, WHEN AGGREGATED, INVOLVING AN AMOUNT IN EXCESS OF FIVE
PERCENT OF THE CURRENT VALUE OF PLAN ASSETS
<TABLE>
<CAPTION>
TOTAL DOLLAR
NUMBER OF NUMBER OF VALUE OF TOTAL DOLLAR
IDENTITY OF PARTY INVOLVED DESCRIPTION OF ASSET PURCHASES SALES PURCHASES VALUE OF SALES NET GAIN
- - -------------------------- -------------------- --------- --------- ------------- -------------- --------
<S> <C> <C> <C> <C> <C> <C>
Weingarten Realty Investors Common Stock 10 2 $202,515 $ 53,017 $5,530
Interest in Pooled Funds Guaranteed Investment
Contracts 6 3 $321,084 $616,349 $4,482
</TABLE>
19
<PAGE> 20
EXHIBIT TO INDEX
23.1 - Consent of Deloitte & Touche
<PAGE> 1
EXHIBIT 23.1
INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in Post-Effective Amendment No. 1
to Registration Statement No. 33-25581 on Form S-8 of the Savings and
Investment Plan for Employees of Weingarten Realty of our report dated February
24, 1994, appearing in the Annual Report on Form 11-K of the Savings and
Investment Plan for Employees of Weingarten Realty for the year ended December
31, 1993.
DELOITTE & TOUCHE
Houston, Texas
June 28, 1994
