**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**WASHINGTON,      D.C. 20549**

**FORM      10-Q**

| **(Mark                One)**                                                                               |
|-------------------------------------------------------------------------------------------------------------|
| **x**                                                                                                       | **QUARTERLY                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934** |
|                                                                                                        |   |
| **For                the quarter ended September 30, 2006**                                                 |
|                                                                                                        |   |
| **OR**                                                                                                      |
|                                                                                                        |   |
| **¨**                                                                                                  | **TRANSITION                REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE                ACT OF                1934** |
|                                                                                                        |   |
| **For                the transition period from [__________________] to                [________________]** |
|                                                                                                        |
| **Commission                file number 1-9876**                                                            |

**WEINGARTEN      REALTY INVESTORS**

**(Exact      name of registrant as specified in its charter)**

| **TEXAS**                                                                                        |   | **74-1464203**                                       |
|--------------------------------------------------------------------------------------------------|--------|------------------------------------------------------|
| **(State                or other jurisdiction of incorporation or                organization)** |   | **(IRS                Employer Identification No.)** |
|                                                                                             |   |                                                 |
| **2600                Citadel Plaza Drive**                                                      |   |                                                 |
| **P.O.                Box 924133**                                                               |   |                                                 |
| **Houston,                Texas**                                                                |   | **77292-4133**                                       |
| **(Address                of principal executive offices)**                                      |   | **(Zip                Code)**                        |
| **(713)                866-6000**                                                                |
| **(Registrant's                telephone number)**                                               |

| **(Former                name, former address and former fiscal year, if changed since last                report)** |
|----------------------------------------------------------------------------------------------------------------------|

----

**PART      I-FINANCIAL INFORMATION**

**ITEM      1.**
**Consolidated      Financial Statements**

**WEINGARTEN      REALTY INVESTORS**

**STATEMENTS      OF CONSOLIDATED INCOME AND COMPREHENSIVE INCOME**

**(Unaudited)**

**(In      thousands, except per share amounts)**

|                                                                   |   | Three                Months Ended |    | Nine                Months Ended |   |
|------------------------------------------------------------------------|--------|-----------------------------------|---------|----------------------------------|--------|
|                                                                   |   | September                30,      |    | September                30,     |   |
|                                                                   |   | 2006                              |    | 2005                             |   | 2006 |   | 2005 |   |
|                                                                   |   |                              |    |                             |   |   |   |   |   |
| Revenues:                                                              |   |                              |    |                             |   |   |   |   |   |
| Rentals                                                                |   | $                                 | 143,965 |                             | $      | 129,273 |   | $ | 412,480 |   | $ | 377,671 |   |
| Other                                                                  |   |                              | 1,323   |                             |   | 1,564 |   |   | 4,801 |   |   | 5,212 |   |
| Total                                                                  |   |                              | 145,288 |                             |   | 130,837 |   |   | 417,281 |   |   | 382,883 |   |
| Expenses:                                                              |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Depreciation                and amortization                           |   |                              | 32,535  |                             |   | 30,113 |   |   | 94,896 |   |   | 87,081 |   |
| Operating                                                              |   |                              | 23,918  |                             |   | 19,593 |   |   | 64,317 |   |   | 55,584 |   |
| Ad                valorem taxes                                        |   |                              | 19,770  |                             |   | 15,942 |   |   | 51,709 |   |   | 45,566 |   |
| General                and administrative                              |   |                              | 5,497   |                             |   | 4,354 |   |   | 16,500 |   |   | 13,123 |   |
| Total                                                                  |   |                              | 81,720  |                             |   | 70,002 |   |   | 227,422 |   |   | 201,354 |   |
|                                                                   |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Operating                Income                                        |   |                              | 63,568  |                             |   | 60,835 |   |   | 189,859 |   |   | 181,529 |   |
| Interest                Expense, net                                   |   |                              | (37,709 | )                                |   | (33,202 | ) |   | (106,887 | ) |   | (96,525 | ) |
| Interest                and Other Income                               |   |                              | 2,788   |                             |   | 1,330 |   |   | 4,819 |   |   | 1,758 |   |
| Equity                in Earnings of Joint Ventures, net               |   |                              | 2,253   |                             |   | 1,895 |   |   | 10,866 |   |   | 4,788 |   |
| Income                Allocated to Minority Interests                  |   |                              | (1,676  | )                                |   | (1,385 | ) |   | (4,977 | ) |   | (4,530 | ) |
| Gain                on Sale of Properties                              |   |                              | 26,871  |                             |   | 132 |   |   | 27,008 |   |   | 22,111 |   |
| Gain                on Land and Merchant Development Sales             |   |                              | 4,504   |                             |   |   |   |   | 6,180 |   |   |   |   |
| Provision                for Income Taxes                              |   |                              | (1,253  | )                                |   |   |   |   | (1,401 | ) |   |   |   |
| Income                from Continuing Operations                       |   |                              | 59,346  |                             |   | 29,605 |   |   | 125,467 |   |   | 109,131 |   |
| Operating                Income from Discontinued Operations           |   |                              | 1,015   |                             |   | 4,138 |   |   | 6,611 |   |   | 13,437 |   |
| Gain                on Sale of Properties from Discontinued Operations |   |                              | 45,388  |                             |   | 27,740 |   |   | 118,546 |   |   | 45,682 |   |
| Income                from Discontinued Operations                     |   |                              | 46,403  |                             |   | 31,878 |   |   | 125,157 |   |   | 59,119 |   |
| Net                Income                                              |   |                              | 105,749 |                             |   | 61,483 |   |   | 250,624 |   |   | 168,250 |   |
| Dividends                on Preferred Shares                           |   |                              | (2,526  | )                                |   | (2,525 | ) |   | (7,576 | ) |   | (7,576 | ) |
| Net                Income Available to Common Shareholders             |   | $                                 | 103,223 |                             | $      | 58,958 |   | $ | 243,048 |   | $ | 160,674 |   |
| Net                Income Per Common Share - Basic:                    |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Income                from Continuing Operations                       |   | $                                 | 0.65    |                             | $      | 0.30 |   | $ | 1.33 |   | $ | 1.14 |   |
| Income                from Discontinued Operations                     |   |                              | 0.54    |                             |   | 0.36 |   |   | 1.42 |   |   | 0.66 |   |
| Net                Income                                              |   | $                                 | 1.19    |                             | $      | 0.66 |   | $ | 2.75 |   | $ | 1.80 |   |
| Net                Income Per Common Share - Diluted:                  |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Income                from Continuing Operations                       |   | $                                 | 0.64    |                             | $      | 0.30 |   | $ | 1.32 |   | $ | 1.13 |   |
| Income                from Discontinued Operations                     |   |                              | 0.51    |                             |   | 0.35 |   |   | 1.35 |   |   | 0.64 |   |
| Net                Income                                              |   | $                                 | 1.15    |                             | $      | 0.65 |   | $ | 2.67 |   | $ | 1.77 |   |
|                                                                   |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Net                Income                                              |   | $                                 | 105,749 |                             | $      | 61,483 |   | $ | 250,624 |   | $ | 168,250 |   |
| Other                Comprehensive Income:                             |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Unrealized                loss on derivatives                          |   |                              | (8,384  | )                                |   |   |   |   | (1,913 | ) |   |   |   |
| Amortization                of loss on derivatives                     |   |                              | 85      |                             |   | 86 |   |   | 257 |   |   | 255 |   |
| Other                Comprehensive Income (Loss)                       |   |                              | (8,299  | )                                |   | 86 |   |   | (1,656 | ) |   | 255 |   |
| Comprehensive                Income                                    |   | $                                 | 97,450  |                             | $      | 61,569 |   | $ | 248,968 |   | $ | 168,505 |   |

----

**WEINGARTEN      REALTY INVESTORS**

**CONSOLIDATED      BALANCE SHEETS**

**(Unaudited)**

**(In      thousands, except per share amounts)**

|                                                                                                                                                                                                                        |   | September                30, |      | December                31, |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------|-----------|-----------------------------|--------|
|                                                                                                                                                                                                                        |   | 2006                         |      | 2005                        |   |
|                                                                                                                                                                                                                        |   |                         |      |                        |   |
| ASSETS                                                                                                                                                                                                                      |   |                         |      |                        |   |
| Property                                                                                                                                                                                                                    |   | $                            | 4,397,465 |                        | $      | 4,033,579 |   |
| Accumulated                Depreciation                                                                                                                                                                                     |   |                         | (690,738  | )                           |   | (679,642 | ) |
| Property                - net                                                                                                                                                                                               |   |                         | 3,706,727 |                        |   | 3,353,937 |   |
| Investment                in Real Estate Joint Ventures                                                                                                                                                                     |   |                         | 120,891   |                        |   | 84,348 |   |
| Total                                                                                                                                                                                                                       |   |                         | 3,827,618 |                        |   | 3,438,285 |   |
| Notes                Receivable from Real Estate Joint Ventures and                Partnerships                                                                                                                             |   |                         | 28,099    |                        |   | 42,195 |   |
| Unamortized                Debt and Lease Costs                                                                                                                                                                             |   |                         | 123,947   |                        |   | 95,616 |   |
| Accrued                Rent and Accounts Receivable (net of allowance for doubtful accounts                of                $4,939 in 2006 and $4,673 in 2005)                                                             |   |                         | 91,488    |                        |   | 60,905 |   |
| Cash                and Cash Equivalents                                                                                                                                                                                    |   |                         | 187,036   |                        |   | 42,690 |   |
| Restricted                Deposits and Mortgage Escrows                                                                                                                                                                     |   |                         | 100,038   |                        |   | 11,747 |   |
| Other                                                                                                                                                                                                                       |   |                         | 70,945    |                        |   | 46,303 |   |
| Total                                                                                                                                                                                                                       |   | $                            | 4,429,171 |                        | $      | 3,737,741 |   |
|                                                                                                                                                                                                                        |   |                         |      |                        |   |   |   |
| LIABILITIES                AND SHAREHOLDERS' EQUITY                                                                                                                                                                         |   |                         |      |                        |   |   |   |
| Debt                                                                                                                                                                                                                        |   | $                            | 2,991,307 |                        | $      | 2,299,855 |   |
| Accounts                Payable and Accrued Expenses                                                                                                                                                                        |   |                         | 110,553   |                        |   | 102,143 |   |
| Other                                                                                                                                                                                                                       |   |                         | 127,654   |                        |   | 102,099 |   |
| Total                                                                                                                                                                                                                       |   |                         | 3,229,514 |                        |   | 2,504,097 |   |
| Minority                Interest                                                                                                                                                                                            |   |                         | 90,446    |                        |   | 83,358 |   |
|                                                                                                                                                                                                                        |   |                         |      |                        |   |   |   |
| Commitments                and Contingencies                                                                                                                                                                                |   |                         |      |                        |   |   |   |
|                                                                                                                                                                                                                        |   |                         |      |                        |   |   |   |
| Shareholders'                Equity:                                                                                                                                                                                        |   |                         |      |                        |   |   |   |
| Preferred                Shares of Beneficial Interest - par value, $.03 per share; shares                authorized: 10,000;                                                                                               |   |                         |      |                        |   |   |   |
| 6.75%                Series D cumulative redeemable preferred shares of beneficial interest;                100 shares issued and outstanding in 2006 and 2005; liquidation preference                $75,000               |   |                         | 3         |                        |   | 3 |   |
| 6.95%                Series E cumulative redeemable preferred shares of beneficial interest;                29                shares issued and outstanding in 2006 and 2005; liquidation preference                $72,500 |   |                         | 1         |                        |   | 1 |   |
| Common                Shares of Beneficial Interest - par value, $.03 per share; shares                authorized: 150,000; shares issued and outstanding: 85,543 in 2006                and                89,403 in 2005  |   |                         | 2,576     |                        |   | 2,686 |   |
| Additional                Paid In Capital                                                                                                                                                                                   |   |                         | 1,129,176 |                        |   | 1,288,432 |   |
| Accumulated                Dividends in Excess of Net Income                                                                                                                                                                |   |                         | (12,839   | )                           |   | (132,786 | ) |
| Accumulated                Other Comprehensive Loss                                                                                                                                                                         |   |                         | (9,706    | )                           |   | (8,050 | ) |
| Shareholders'                Equity                                                                                                                                                                                         |   |                         | 1,109,211 |                        |   | 1,150,286 |   |
| Total                                                                                                                                                                                                                       |   | $                            | 4,429,171 |                        | $      | 3,737,741 |   |

----

**WEINGARTEN      REALTY INVESTORS**

**STATEMENTS      OF CONSOLIDATED CASH FLOWS**

**(Unaudited)**

**(Amounts      in thousands)**

|                                                                                                            |   | Nine                Months Ended |     |
|-----------------------------------------------------------------------------------------------------------------|--------|----------------------------------|----------|
|                                                                                                            |   | September                30,     |     |
|                                                                                                            |   | 2006                             |     | 2005 |   |
|                                                                                                            |   |                             |     |   |   |
| Cash                Flows from Operating Activities:                                                            |   |                             |     |   |   |
| Net                income                                                                                       |   | $                                | 250,624  |   | $ | 168,250 |   |
| Adjustments                to reconcile net income to net cash provided by operating                activities: |   |                             |     |   |   |   |   |
| Depreciation                and amortization                                                                    |   |                             | 98,337   |   |   | 94,930 |   |
| Equity                in earnings of joint ventures, net                                                        |   |                             | (10,866  | ) |   | (4,859 | ) |
| Income                allocated to minority interests                                                           |   |                             | 4,977    |   |   | 4,530 |   |
| Gain                on sale of properties                                                                       |   |                             | (151,734 | ) |   | (67,793 | ) |
| Distributions                of income from unconsolidated entities                                             |   |                             | 1,808    |   |   | 1,700 |   |
| Changes                in accrued rent and accounts receivable                                                  |   |                             | (29,762  | ) |   | 5,470 |   |
| Changes                in other assets                                                                          |   |                             | (29,121  | ) |   | (22,590 | ) |
| Changes                in accounts payable and accrued expenses                                                 |   |                             | 1,985    |   |   | (29,954 | ) |
| Other,                net                                                                                       |   |                             | 1,403    |   |   | 597 |   |
| Net                cash provided by operating activities                                                        |   |                             | 137,651  |   |   | 150,281 |   |
|                                                                                                            |   |                             |     |   |   |   |   |
| Cash                Flows from Investing Activities:                                                            |   |                             |     |   |   |   |   |
| Investment                in properties                                                                         |   |                             | (575,035 | ) |   | (170,182 | ) |
| Proceeds                from sales and disposition of property, net                                             |   |                             | 356,053  |   |   | 161,704 |   |
| Changes                in restricted deposits and mortgage escrows                                              |   |                             | (85,984  | ) |   | (52,767 | ) |
| Notes                receivable:                                                                                |   |                             |     |   |   |   |   |
| Advances                                                                                                        |   |                             | (33,135  | ) |   | (16,737 | ) |
| Collections                                                                                                     |   |                             | 47,265   |   |   | 4,119 |   |
| Real                estate joint ventures and partnerships:                                                     |   |                             |     |   |   |   |   |
| Investments                                                                                                     |   |                             | (9,165   | ) |   | (4,636 | ) |
| Distributions                                                                                                   |   |                             | 11,094   |   |   | 5,327 |   |
| Net                cash used in investing activities                                                            |   |                             | (288,907 | ) |   | (73,172 | ) |
|                                                                                                            |   |                             |     |   |   |   |   |
| Cash                Flows from Financing Activities:                                                            |   |                             |     |   |   |   |   |
| Proceeds                from issuance of:                                                                       |   |                             |     |   |   |   |   |
| Debt                                                                                                            |   |                             | 700,782  |   |   | 87,777 |   |
| Common                shares of beneficial interest, net                                                        |   |                             | 2,244    |   |   | 2,108 |   |
| Purchase                of common shares of beneficial interest                                                 |   |                             | (167,573 | ) |   |   |   |
| Principal                payments of debt                                                                       |   |                             | (96,414  | ) |   | (63,973 | ) |
| Common                and preferred dividends paid                                                              |   |                             | (130,677 | ) |   | (125,338 | ) |
| Other,                net                                                                                       |   |                             | (12,760  | ) |   | 863 |   |
| Net                cash provided by (used in) financing activities                                              |   |                             | 295,602  |   |   | (98,563 | ) |
|                                                                                                            |   |                             |     |   |   |   |   |
| Net                increase (decrease) in cash and cash equivalents                                             |   |                             | 144,346  |   |   | (21,454 | ) |
| Cash                and cash equivalents at January 1                                                           |   |                             | 42,690   |   |   | 45,415 |   |
|                                                                                                            |   |                             |     |   |   |   |   |
| Cash                and cash equivalents at September 30                                                        |   | $                                | 187,036  |   | $ | 23,961 |   |

----

**WEINGARTEN      REALTY INVESTORS**

**NOTES      TO CONSOLIDATED FINANCIAL STATEMENTS**

**(Unaudited)**

**Note      1.**
**Interim      Financial Statements**

*Basis      of Presentation*

*Revenue      Recognition*

*Partially      Owned Joint Ventures and Partnerships*

*Property*

----

*Interest      Capitalization*

*Deferred      Charges*

*Sales      of Real Estate*

----

*Accrued      Rent and Accounts Receivable*

*Restricted      Deposits and Mortgage Escrows*

*Other      Assets*

*Per      Share Data*

|                                                                 |   | Three                Months Ended |    | Nine                Months Ended |   |
|----------------------------------------------------------------------|--------|-----------------------------------|---------|----------------------------------|--------|
|                                                                 |   | September                30,      |    | September                30,     |   |
|                                                                 |   | 2006                              |    | 2005                             |   | 2006 |   | 2005 |   |
|                                                                 |   |                              |    |                             |   |   |   |   |   |
| Numerator:                                                           |   |                              |    |                             |   |   |   |   |   |
| Net                income available to common shareholders - basic   |   | $                                 | 103,223 |                             | $      | 58,958 |   | $ | 243,048 |   | $ | 160,674 |   |
| Income                attributable to operating partnership units    |   |                              | 1,355   |                             |   | 1,315 |   |   | 4,123 |   |   | 3,888 |   |
|                                                                 |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Net                income available to common shareholders - diluted |   | $                                 | 104,578 |                             | $      | 60,273 |   | $ | 247,171 |   | $ | 164,562 |   |
|                                                                 |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Denominator:                                                         |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Weighted                average shares outstanding - basic           |   |                              | 86,567  |                             |   | 89,257 |   |   | 88,476 |   |   | 89,186 |   |
| Effect                of dilutive securities:                        |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Share                options and awards                              |   |                              | 905     |                             |   | 930 |   |   | 902 |   |   | 880 |   |
| Operating                partnership units                           |   |                              | 3,138   |                             |   | 3,129 |   |   | 3,150 |   |   | 3,060 |   |
|                                                                 |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Weighted                average shares outstanding - diluted         |   |                              | 90,610  |                             |   | 93,316 |   |   | 92,528 |   |   | 93,126 |   |

----

*Income      Taxes*

*Cash      Flow Information*

*Reclassifications*

**Note      2.**
**Newly      Adopted Accounting Pronouncements**

----

|                                                                                                                                       |   | Three                Months Ended |   | Nine                Months Ended |   |
|--------------------------------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|--------|----------------------------------|--------|
|                                                                                                                                       |   | September                30,      |   | September                30,     |   |
|                                                                                                                                       |   | 2005                              |   | 2005                             |   |
|                                                                                                                                       |   |                              |   |                             |   |
| Net                income available to common shareholders                                                                                 |   | $                                 | 58,958 |                             | $      | 160,674 |   |
| Stock-based                employee compensation included in net income available to common                shareholders                    |   |                              | 115    |                             |   | 312 |   |
| Stock-based                employee compensation determined under the fair value-based method                for all                awards |   |                              | (212   | )                                |   | (637 | ) |
|                                                                                                                                       |   |                              |   |                             |   |   |   |
| Pro                forma net income available to common shareholders                                                                       |   | $                                 | 58,861 |                             | $      | 160,349 |   |
|                                                                                                                                       |   |                              |   |                             |   |   |   |
| Net                income per common share:                                                                                                |   |                              |   |                             |   |   |   |
| Basic                - as reported                                                                                                         |   | $                                 | .66    |                             | $      | 1.80 |   |
|                                                                                                                                       |   |                              |   |                             |   |   |   |
| Basic                - pro forma                                                                                                           |   | $                                 | .66    |                             | $      | 1.80 |   |
|                                                                                                                                       |   |                              |   |                             |   |   |   |
|                                                                                                                                       |   |                              |   |                             |   |   |   |
| Net                income per common share:                                                                                                |   |                              |   |                             |   |   |   |
| Diluted                - as reported                                                                                                       |   | $                                 | .65    |                             | $      | 1.77 |   |
|                                                                                                                                       |   |                              |   |                             |   |   |   |
| Diluted                - pro forma                                                                                                         |   | $                                 | .64    |                             | $      | 1.76 |   |

----

----

**Note      3.**
**Discontinued      Operations**

**Note      4.**
**Derivatives      and Hedging**

----

**Note      5.**
**Debt**

|                                                                          |   | September                30, |      | December                31, |   |
|-------------------------------------------------------------------------------|--------|------------------------------|-----------|-----------------------------|--------|
|                                                                          |   | 2006                         |      | 2005                        |   |
|                                                                          |   |                         |      |                        |   |
| Debt                payable to 2030 at 4.0% to 8.9%                           |   | $                            | 2,723,472 |                        | $      | 2,049,470 |   |
| Unsecured                notes payable under revolving credit agreements      |   |                         | 229,600   |                        |   | 210,000 |   |
| Obligations                under capital leases                               |   |                         | 33,460    |                        |   | 33,460 |   |
| Industrial                revenue bonds payable to 2015 at 4.2% to 6.3%  |   |                         | 4,775     |                        |   | 6,925 |   |
|                                                                          |   |                         |      |                        |   |   |   |
| Total                                                                         |   | $                            | 2,991,307 |                        | $      | 2,299,855 |   |

|                                                                                              |   | September                30, |      | December                31, |   |
|---------------------------------------------------------------------------------------------------|--------|------------------------------|-----------|-----------------------------|--------|
|                                                                                              |   | 2006                         |      | 2005                        |   |
|                                                                                              |   |                         |      |                        |   |
| As                to interest rate (including the effects of interest rate                swaps): |   |                         |      |                        |   |
| Fixed-rate                debt                                                                    |   | $                            | 2,665,191 |                        | $      | 1,986,059 |   |
| Variable-rate                debt                                                                 |   |                         | 326,116   |                        |   | 313,796 |   |
|                                                                                              |   |                         |      |                        |   |   |   |
| Total                                                                                             |   | $                            | 2,991,307 |                        | $      | 2,299,855 |   |
|                                                                                              |   |                         |      |                        |   |   |   |
| As                to collateralization:                                                           |   |                         |      |                        |   |   |   |
| Unsecured                debt                                                                     |   | $                            | 2,046,791 |                        | $      | 1,457,805 |   |
| Secured                debt                                                                       |   |                         | 944,516   |                        |   | 842,050 |   |
|                                                                                              |   |                         |      |                        |   |   |   |
| Total                                                                                             |   | $                            | 2,991,307 |                        | $      | 2,299,855 |   |

----

| 2006       |   | $      | 11,216  |   |
|------------|--------|--------|---------|--------|
| 2007       |   |   | 104,923 |   |
| 2008       |   |   | 251,650 |   |
| 2009       |   |   | 112,437 |   |
| 2010       |   |   | 108,524 |   |
| 2011       |   |   | 913,857 |   |
| 2012       |   |   | 303,078 |   |
| 2013       |   |   | 295,169 |   |
| 2014       |   |   | 333,894 |   |
| 2015       |   |   | 152,704 |   |
| Thereafter |   |   | 158,284 |   |

----

| ·   | during                any calendar quarter beginning after December 31, 2006 (and only                during                such calendar quarter), if, and only if, the closing sale price of                our                common shares for at least 20 trading days (whether or not consecutive)                in                the period of 30 consecutive trading days ending on the last trading                day                of the preceding calendar quarter is greater than 130% of the conversion                price per common share in effect on the applicable trading                day; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | during                the five consecutive trading-day period following any five consecutive                trading-day period in which the trading price of the notes was less                than                98% of the product of the closing sale price of our common shares                multiplied by the applicable conversion                rate; |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | if                those notes have been called for redemption, at any time prior to                the                close of business on the third business day prior to the redemption                date;                or |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | if                our common shares are not listed on a U.S. national or regional securities                exchange or quoted on the NASDAQ National Market for 30 consecutive                trading days. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

**Note      6.**
**Property**

|                                      |   | September                30, |      | December                31, |   |
|-------------------------------------------|--------|------------------------------|-----------|-----------------------------|--------|
|                                      |   | 2006                         |      | 2005                        |   |
|                                      |   |                         |      |                        |   |
| Land                                      |   | $                            | 821,622   |                        | $      | 761,454 |   |
| Land                held for development  |   |                         | 26,604    |                        |   | 20,634 |   |
| Land                under development     |   |                         | 75,168    |                        |   | 16,895 |   |
| Buildings                and improvements |   |                         | 3,410,092 |                        |   | 3,195,207 |   |
| Construction-in                progress   |   |                         | 55,793    |                        |   | 39,389 |   |
| Property                held for sale     |   |                         | 8,186     |                        |   |   |   |
| Total                                     |   | $                            | 4,397,465 |                        | $      | 4,033,579 |   |

**Note      7.**
**Investments      in Real Estate Joint Ventures**

|                                    |   | September                30, |    | December                31, |   |
|-----------------------------------------|--------|------------------------------|---------|-----------------------------|--------|
|                                    |   | 2006                         |    | 2005                        |   |
| Combined                Balance Sheets  |   |                         |    |                        |   |
|                                    |   |                         |    |                        |   |
| Property                                |   | $                            | 660,102 |                        | $      | 397,689 |   |
| Accumulated                depreciation |   |                         | (37,064 | )                           |   | (32,032 | ) |
| Property                - net           |   |                         | 623,038 |                        |   | 365,657 |   |
|                                    |   |                         |    |                        |   |   |   |
| Other                assets             |   |                         | 87,158  |                        |   | 61,543 |   |
|                                    |   |                         |    |                        |   |   |   |
| Total                                   |   | $                            | 710,196 |                        | $      | 427,200 |   |
|                                    |   |                         |    |                        |   |   |   |
| Debt                                    |   | $                            | 263,048 |                        | $      | 136,182 |   |
| Amounts                payable to WRI   |   |                         | 26,336  |                        |   | 43,239 |   |
| Other                liabilities        |   |                         | 15,340  |                        |   | 12,081 |   |
| Accumulated                equity       |   |                         | 405,472 |                        |   | 235,698 |   |
|                                    |   |                         |    |                        |   |   |   |
| Total                                   |   | $                            | 710,196 |                        | $      | 427,200 |   |

----

|                                                       |   | Three                Months Ended |   | Nine                Months Ended |   |
|------------------------------------------------------------|--------|-----------------------------------|--------|----------------------------------|--------|
|                                                       |   | September                30,      |   | September                30,     |   |
|                                                       |   | 2006                              |   | 2005                             |   | 2006 |   | 2005 |   |
|                                                       |   |                              |   |                             |   |   |   |   |   |
| Combined                Statements of Income               |   |                              |   |                             |   |   |   |   |   |
|                                                       |   |                              |   |                             |   |   |   |   |   |
| Revenues                                                   |   | $                                 | 15,721 |                             | $      | 10,693 |   | $ | 41,236 |   | $ | 29,509 |   |
|                                                       |   |                              |   |                             |   |   |   |   |   |   |   |   |   |
| Expenses:                                                  |   |                              |   |                             |   |   |   |   |   |   |   |   |   |
| Interest                                                   |   |                              | 4,617  |                             |   | 2,803 |   |   | 12,076 |   |   | 7,438 |   |
| Depreciation                and amortization               |   |                              | 3,556  |                             |   | 2,188 |   |   | 9,527 |   |   | 6,692 |   |
| Operating                                                  |   |                              | 1,900  |                             |   | 1,299 |   |   | 5,193 |   |   | 3,688 |   |
| Ad                valorem taxes                            |   |                              | 1,840  |                             |   | 1,318 |   |   | 4,426 |   |   | 3,643 |   |
| General                and administrative                  |   |                              | 156    |                             |   | 115 |   |   | 415 |   |   | 396 |   |
|                                                       |   |                              |   |                             |   |   |   |   |   |   |   |   |   |
| Total                                                      |   |                              | 12,069 |                             |   | 7,723 |   |   | 31,637 |   |   | 21,857 |   |
|                                                       |   |                              |   |                             |   |   |   |   |   |   |   |   |   |
| Gain                on land and merchant development sales |   |                              |   |                             |   | 170 |   |   | 555 |   |   | 170 |   |
| Gain                (loss) on sale of property             |   |                              | 1      |                             |   | 3 |   |   | 5,993 |   |   | (5 | ) |
|                                                       |   |                              |   |                             |   |   |   |   |   |   |   |   |   |
| Net                Income                                  |   | $                                 | 3,653  |                             | $      | 3,143 |   | $ | 16,147 |   | $ | 7,817 |   |

----

**Note      8.**
**Segment      Information**

|                                                    |   | Shopping |      |       |   |    |   |   |    |
|---------------------------------------------------------|--------|----------|-----------|------------|--------|---------|--------|--------|---------|
|                                                    |   | Center   |      | Industrial |   | Other   |   | Total  |    |
|                                                    |   |     |      |       |   |    |   |   |    |
| Three                Months Ended September 30, 2006:   |   |     |      |       |   |    |   |   |    |
| Revenues                                                |   | $        | 130,605   |       | $      | 14,406  |   | $      | 277     |   | $ | 145,288 |   |
| Net                operating income (loss)              |   |     | 93,041    |       |   | 9,463   |   |   | (904    | ) |   | 101,600 |   |
| Equity                in earnings of joint ventures     |   |     | 2,069     |       |   | 39      |   |   | 145     |   |   | 2,253 |   |
| Investment                in real estate joint ventures |   |     | 117,602   |       |   | 437     |   |   | 2,852   |   |   | 120,891 |   |
| Total                assets                             |   |     | 3,565,720 |       |   | 292,610 |   |   | 570,841 |   |   | 4,429,171 |   |
|                                                    |   |     |      |       |   |    |   |   |    |   |   |   |   |
| Three                Months Ended September 30, 2005:   |   |     |      |       |   |    |   |   |    |   |   |   |   |
| Revenues                                                |   | $        | 118,259   |       | $      | 12,117  |   | $      | 461     |   | $ | 130,837 |   |
| Net                operating income                     |   |     | 86,261    |       |   | 8,860   |   |   | 181     |   |   | 95,302 |   |
| Equity                in earnings of joint ventures     |   |     | 1,844     |       |   | 9       |   |   | 42      |   |   | 1,895 |   |
| Investment                in real estate joint ventures |   |     | 58,761    |       |   | 492     |   |   | 1,753   |   |   | 61,006 |   |
| Total                assets                             |   |     | 3,017,140 |       |   | 306,374 |   |   | 343,886 |   |   | 3,667,400 |   |
|                                                    |   |     |      |       |   |    |   |   |    |   |   |   |   |
| Nine                Months Ended September 30, 2006:    |   |     |      |       |   |    |   |   |    |   |   |   |   |
| Revenues                                                |   | $        | 373,070   |       | $      | 42,993  |   | $      | 1,218   |   | $ | 417,281 |   |
| Net                operating income (loss)              |   |     | 271,782   |       |   | 29,811  |   |   | (338    | ) |   | 301,255 |   |
| Equity                in earnings of joint ventures     |   |     | 10,502    |       |   | 84      |   |   | 280     |   |   | 10,866 |   |
|                                                    |   |     |      |       |   |    |   |   |    |   |   |   |   |
| Nine                Months Ended September 30, 2005:    |   |     |      |       |   |    |   |   |    |   |   |   |   |
| Revenues                                                |   | $        | 346,595   |       | $      | 34,672  |   | $      | 1,616   |   | $ | 382,883 |   |
| Net                operating income                     |   |     | 255,891   |       |   | 24,986  |   |   | 856     |   |   | 281,733 |   |
| Equity                in earnings of joint ventures     |   |     | 4,659     |       |   | 52      |   |   | 77      |   |   | 4,788 |   |

----

|                                                       |   | Three                Months Ended |    | Nine                Months Ended |   |
|------------------------------------------------------------|--------|-----------------------------------|---------|----------------------------------|--------|
|                                                       |   | September                30,      |    | September                30,     |   |
|                                                       |   | 2006                              |    | 2005                             |   | 2006 |   | 2005 |   |
|                                                       |   |                              |    |                             |   |   |   |   |   |
| Total                segment net operating income          |   | $                                 | 101,600 |                             | $      | 95,302 |   | $ | 301,255 |   | $ | 281,733 |   |
| Depreciation                and amortization               |   |                              | (32,535 | )                                |   | (30,113 | ) |   | (94,896 | ) |   | (87,081 | ) |
| General                and administrative                  |   |                              | (5,497  | )                                |   | (4,354 | ) |   | (16,500 | ) |   | (13,123 | ) |
| Interest                expense, net                       |   |                              | (37,709 | )                                |   | (33,202 | ) |   | (106,887 | ) |   | (96,525 | ) |
| Interest                and other income                   |   |                              | 2,788   |                             |   | 1,330 |   |   | 4,819 |   |   | 1,758 |   |
| Equity                in earnings of joint ventures, net   |   |                              | 2,253   |                             |   | 1,895 |   |   | 10,866 |   |   | 4,788 |   |
| Income                allocated to minority interests      |   |                              | (1,676  | )                                |   | (1,385 | ) |   | (4,977 | ) |   | (4,530 | ) |
| Gain                on sale of properties                  |   |                              | 26,871  |                             |   | 132 |   |   | 27,008 |   |   | 22,111 |   |
| Gain                on land and merchant development sales |   |                              | 4,504   |                             |   |   |   |   | 6,180 |   |   |   |   |
| Provision                for income taxes                  |   |                              | (1,253  | )                                |   |   |   |   | (1,401 | ) |   |   |   |
|                                                       |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Income                from Continuing Operations           |   | $                                 | 59,346  |                             | $      | 29,605 |   | $ | 125,467 |   | $ | 109,131 |   |

**Note      9.**
**Employee      Benefit Plans**

|                                          |   | Three                Months Ended |   | Nine                Months Ended |   |
|-----------------------------------------------|--------|-----------------------------------|--------|----------------------------------|--------|
|                                          |   | September                30,      |   | September                30,     |   |
|                                          |   | 2006                              |   | 2005                             |   | 2006 |   | 2005 |   |
|                                          |   |                              |   |                             |   |   |   |   |   |
| Service                cost                   |   | $                                 | 772    |                             | $      | 815 |   | $ | 2,316 |   | $ | 1,925 |   |
| Interest                cost                  |   |                              | 565    |                             |   | 537 |   |   | 1,695 |   |   | 1,315 |   |
| Expected                return on plan assets |   |                              | (346   | )                                |   | (343 | ) |   | (1,038 | ) |   | (849 | ) |
| Prior                service cost             |   |                              | (32    | )                                |   | (37 | ) |   | (96 | ) |   | (91 | ) |
| Recognized                loss                |   |                              | 102    |                             |   | 46 |   |   | 306 |   |   | 113 |   |
|                                          |   |                              |   |                             |   |   |   |   |   |   |   |   |   |
| Total                                         |   | $                                 | 1,061  |                             | $      | 1,018 |   | $ | 3,183 |   | $ | 2,413 |   |

----

**Note      10.**
**Identified      Intangible Assets and Liabilities**

|                                                                                             |   | September                30, |    | December                31, |   |
|--------------------------------------------------------------------------------------------------|--------|------------------------------|---------|-----------------------------|--------|
|                                                                                             |   | 2006                         |    | 2005                        |   |
|                                                                                             |   |                         |    |                        |   |
| Identified                Intangible Assets:                                                     |   |                         |    |                        |   |
| Above-Market                Leases (included in Other Assets)                                    |   | $                            | 15,737  |                        | $      | 12,838 |   |
| Above-Market                Leases - Accumulated Amortization                                    |   |                         | (4,956  | )                           |   | (3,393 | ) |
| Lease                Origination Costs (incl. in Unamortized Debt and Lease                Cost) |   |                         | 62,999  |                        |   | 42,772 |   |
| Lease                Origination Costs - Accumulated Amortization                                |   |                         | (14,717 | )                           |   | (10,822 | ) |
|                                                                                             |   |                         |    |                        |   |   |   |
|                                                                                             |   | $                            | 59,063  |                        | $      | 41,395 |   |
|                                                                                             |   |                         |    |                        |   |   |   |
| Identified                Intangible Liabilities (included in Other Liabilities):                |   |                         |    |                        |   |   |   |
| Below-Market                Leases                                                               |   | $                            | 31,597  |                        | $      | 17,012 |   |
| Below-Market                Leases - Accumulated Amortization                                    |   |                         | (6,126  | )                           |   | (3,735 | ) |
| Out-of-Market                Assumed Mortgages                                                   |   |                         | 59,704  |                        |   | 60,792 |   |
| Out-of-Market                Assumed Mortgages - Accumulated Amortization                        |   |                         | (16,325 | )                           |   | (12,143 | ) |
|                                                                                             |   |                         |    |                        |   |   |   |
|                                                                                             |   | $                            | 68,850  |                        | $      | 61,926 |   |

| 2007 |   | $      | 2,979 |   |
|------|--------|--------|-------|--------|
| 2008 |   |   | 2,531 |   |
| 2009 |   |   | 2,413 |   |
| 2010 |   |   | 1,463 |   |
| 2011 |   |   | 782   |   |

| 2007 |   | $      | 8,787 |   |
|------|--------|--------|-------|--------|
| 2008 |   |   | 7,586 |   |
| 2009 |   |   | 6,616 |   |
| 2010 |   |   | 5,559 |   |
| 2011 |   |   | 4,156 |   |

----

| 2007 |   | $      | 7,455 |   |
|------|--------|--------|-------|--------|
| 2008 |   |   | 6,385 |   |
| 2009 |   |   | 4,990 |   |
| 2010 |   |   | 4,248 |   |
| 2011 |   |   | 2,924 |   |

**Note      11.**
**Income      Taxes**

**Note      12.**
**Commitments      and Contingencies**

----

**Note      13.**
**Share      Options and Awards**

----

|                                    |   | Nine                Months Ended |   |
|-----------------------------------------|--------|----------------------------------|--------|
|                                    |   | September                30,     |   |
|                                    |   | 2006                             |   |
|                                    |   |                             |   |
| Fair                value per share     |   | $                                | 3.22   |   |
| Dividend                yield           |   |                             | 6.3    | % |
| Expected                volatility      |   |                             | 16.9   | % |
| Expected                life (in years) |   |                             | 6.7    |   |
| Risk-free                interest rate  |   |                             | 4.4    | % |

|                                           |   | Shares |      | Weighted                      |   |
|------------------------------------------------|--------|--------|-----------|-------------------------------|--------|
|                                           |   | Under  |      | Average                       |   |
|                                           |   | Option |      | Exercise                Price |   |
| Outstanding,                January 1, 2006    |   |   | 3,179,646 |                          | $      | 27.47 |   |
| Granted                                        |   |   | 5,600     |                          |   | 38.89 |   |
| Forfeited                or expired            |   |   | (26,761   | )                             |   | 30.89 |   |
| Exercised                                      |   |   | (456,816  | )                             |   | 20.74 |   |
| Outstanding,                September 30, 2006 |   |   | 2,701,669 |                          | $      | 28.60 |   |

----

|                           |   | Outstanding |      | Exercisable |   |
|--------------------------------|--------|-------------|-----------|-------------|--------|
|                           |   |        |      | Weighted    |   |   |   |   |   |   |   |   |   |   |   |
|                           |   |        |      | Average     |   | Weighted |   | Aggregate |   |   |   | Weighted |   | Aggregate |   |
|                           |   |        |      | Remaining   |   | Average |   | Intrinsic |   |   |   | Average |   | Intrinsic |   |
| Range                of        |   |        |      | Contractual |   | Exercise |   | Value |   |   |   | Exercise |   | Value |   |
| Exercise                Prices |   | Number      |      | Life        |   | Price |   | (000’s) |   | Number |   | Price |   | (000’s) |   |
|                           |   |        |      |        |   |   |   |   |   |   |   |   |   |   |   |
|                           |   |        |      |        |   |   |   |   |   |   |   |   |   |   |   |
| $16.89                - $24.58 |   |        | 1,348,692 |        |   | 5.21                years |   | $ | 21.65 |   |   |   |   |   | 696,175 |   | $ | 20.84 |   |   |   |   |
|                           |   |        |      |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| $24.59                - $30.09 |   |        | 463,588   |        |   | 7.16                years |   | $ | 30.07 |   |   |   |   |   | 221,751 |   | $ | 30.05 |   |   |   |   |
|                           |   |        |      |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| $30.10                - $39.75 |   |        | 889,389   |        |   | 9.01                years |   | $ | 38.36 |   |   |   |   |   | 84,547 |   | $ | 39.75 |   |   |   |   |
|                           |   |        |      |        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                          |   |        | 2,701,669 |        |   | 6.80                years |   | $ | 28.60 |   | $ | 39,958 |   |   | 1,002,473 |   | $ | 24.47 |   | $ | 18,596 |   |

|                                           |   | Nonvested  |    | Weighted                       |   |
|------------------------------------------------|--------|------------|---------|--------------------------------|--------|
|                                           |   | Restricted |    | Average                Grant   |   |
|                                           |   | Shares     |    | Date                Fair Value |   |
| Outstanding,                January 1, 2006    |   |       | 142,268 |                           | $      | 36.32 |   |
| Granted                                        |   |       | 11,214  |                           |   | 39.14 |   |
| Vested                                         |   |       | (11,214 | )                              |   | 39.14 |   |
| Forfeited                                      |   |       | (3,041  | )                              |   | 36.24 |   |
| Outstanding,                September 30, 2006 |   |       | 139,227 |                           | $      | 36.32 |   |

**Note      14.**
**Subsequent      Events**

----

**ITEM      2.**
**Management's      Discussion and Analysis of Financial Condition and Results of      Operations**

**Forward-Looking      Statements**

**Executive      Overview**

----

----

**Summary      of Critical Accounting Policies**

*Revenue      Recognition*

*Partially      Owned Joint Ventures and Partnerships*

----

*Property*

*Interest      Capitalization*

*Deferred      Charges*

----

*Sales      of Real Estate*

*Accrued      Rent and Accounts Receivable*

*Income      Taxes*

**Results      of Operations**

*Revenues*

|                            |   | September                30, |   |
|---------------------------------|--------|------------------------------|--------|
|                            |   | 2006                         |   | 2005 |   |
|                            |   |                         |   |   |   |
| Shopping                Centers |   |                         | 95.0   | % |   | 94.9 | % |
| Industrial                      |   |                         | 90.4   | % |   | 93.8 | % |
| Total                           |   |                         | 94.0   | % |   | 94.7 | % |

----

*Expenses*

*Interest      Expense*

|                                                                  |   | Three                Months Ended |   |
|-----------------------------------------------------------------------|--------|-----------------------------------|--------|
|                                                                  |   | September                30,      |   |
|                                                                  |   | 2006                              |   | 2005 |   |
|                                                                  |   |                              |   |   |   |
| Gross                interest expense                                 |   | $                                 | 41,711 |   | $ | 35,622 |   |
| Over-market                mortgage adjustment of acquired properties |   |                              | (1,883 | ) |   | (1,749 | ) |
| Capitalized                interest                                   |   |                              | (2,119 | ) |   | (671 | ) |
|                                                                  |   |                              |   |   |   |   |   |
| Total                                                                 |   | $                                 | 37,709 |   | $ | 33,202 |   |

*Interest      and Other Income*

*Equity      in Earnings of Joint Ventures*

*Gain      on Sale of Properties*

*.*

----

*Gain      on Land and Merchant Development Sales*

*Provision      for Income Taxes*

*Income      from Discontinued Operations*

**Results      of Operations**

*Revenues*

|                            |   | September                30, |   |
|---------------------------------|--------|------------------------------|--------|
|                            |   | 2006                         |   | 2005 |   |
|                            |   |                         |   |   |   |
| Shopping                Centers |   |                         | 95.0   | % |   | 94.9 | % |
| Industrial                      |   |                         | 90.4   | % |   | 93.8 | % |
| Total                           |   |                         | 94.0   | % |   | 94.7 | % |

*Expenses*

----

*Interest      Expense*

|                                                                  |   | Nine                Months Ended |    |
|-----------------------------------------------------------------------|--------|----------------------------------|---------|
|                                                                  |   | September                30,     |    |
|                                                                  |   | 2006                             |    | 2005 |   |
|                                                                  |   |                             |    |   |   |
| Gross                interest expense                                 |   | $                                | 116,695 |   | $ | 103,965 |   |
| Over-market                mortgage adjustment of acquired properties |   |                             | (5,534  | ) |   | (5,112 | ) |
| Capitalized                interest                                   |   |                             | (4,274  | ) |   | (2,328 | ) |
|                                                                  |   |                             |    |   |   |   |   |
| Total                                                                 |   | $                                | 106,887 |   | $ | 96,525 |   |

*Interest      and Other Income*

*Equity      in Earnings of Joint Ventures*

*Gain      on Sale of Properties*

*.      *

*Gain      on Land and Merchant Development Sales*

*Provision      for Income Taxes*

----

*Income      from Discontinued Operations*

**Capital      Resources and Liquidity**

*Investing      Activities:*

*Acquisitions*

----

| Center                Name                          |   | Total                Square Feet of Property* |   | Location |                                 | Anchors |   | Occupancy                at Acquisition Date                                        | Property                Development Completed |
|-----------------------------------------------------|--------|-----------------------------------------------|--------|----------|--------------------------------------|---------|--------|-------------------------------------------------------------------------------------|-----------------------------------------------|
| Brookwood                Marketplace                |   | 375,000                                       |   |     | Atlanta,                GA           |    |   | SuperTarget*,                Home Depot, OfficeMax                                  |                                          |   | 96.4% |   | 3rd                Qtr. 2006 |   |
| Camp                Creek Phase II                  |   | 230,000                                       |   |     | Atlanta,                GA           |    |   | SuperTarget*,                Circuit City                                           |                                          |   | 99.2% |   | 3rd                Qtr. 2006 |   |
| Lakeside                Marketplace                 |   | 330,000                                       |   |     | Acworth                (Atlanta), GA |    |   | SuperTarget*,                Circuit City, Ross Dress for Less, PETCO, OfficeMax    |                                          |   | 100.0% |   | 3rd                Qtr. 2006 |   |
| Publix                at Princeton Lakes            |   | 70,000                                        |   |     | Atlanta,                GA           |    |   | Publix                                                                              |                                          |   | 100.0% |   | 3rd                Qtr. 2006 |   |
| Marketplace                at Seminole Towne Center |   | 550,000                                       |   |     | Sanford                (Orlando), FL |    |   | SuperTarget*,                Circuit City, Linens ‘n Things, Marshalls, PETCO |                                          |   | 99.3% |   | 3rd                Qtr. 2005 |   |

----

| Center                Name                 |   | Total                Square Feet |   | Location |                                        | Anchors |   | Occupancy                at Acquisition Date                          |
|--------------------------------------------|--------|----------------------------------|--------|----------|---------------------------------------------|---------|--------|-----------------------------------------------------------------------|
| Alafaya                Square              |   | 176,486                          |   |     | Ovieda                (Orlando), FL         |    |   | Publix,                Planet Fitness                                 |   |   | 100% |   |
| Marketplace                at Dr. Phillips |   | 327,561                          |   |     | Orlando,                FL                  |    |   | Albertson’s,                Stein Mart, HomeGoods, Office Depot |   |   | 99% |   |
| East                Lake Woodlands         |   | 140,103                          |   |     | Palm                Harbor (Tampa), FL      |    |   | Publix,                Walgreens                                      |   |   | 91% |   |
| International                Drive         |   | 185,664                          |   |     | Orlando,                FL                  |    |   | Bed                Bath & Beyond, Ross, TJ Maxx                   |   |   | 100% |   |
| Kendall                Corners             |   | 96,515                           |   |     | Miami,                FL                    |    |   | City                Furniture                                         |   |   | 100% |   |
| Palm                Lakes Plaza            |   | 113,752                          |   |     | Margate                (Ft. Lauderdale), FL |    |   | Publix,                CVS                                            |   |   | 99% |   |
| South                Dade Shopping Center  |   | 219,473                          |   |     | Miami,                FL                    |    |   | Publix,                Bed Bath & Beyond, PETCO                   |   |   | 100% |   |

*Dispositions*

----

*New      Development and Capital Expenditures*

*Financing      Activities:*

*Debt*

----

*Equity*

**Contractual      Obligations**

|                                               |   | 2006   |    | 2007   |   | 2008    |   | 2009   |    | 2010   |   | Thereafter |   | Total  |    |
|----------------------------------------------------|--------|--------|---------|--------|--------|---------|--------|--------|---------|--------|--------|------------|--------|--------|---------|
|                                               |   |   |    |   |   |    |   |   |    |   |   |       |   |   |    |
| Mortgages                and Notes Payable:**(1)** |   |   |    |   |   |    |   |   |    |   |   |       |   |   |    |
| Unsecured                Debt                      |   | $      | 304,868 |   | $      | 102,457 |   | $      | 102,457 |   | $      | 102,457    |   | $      | 102,457 |   | $ | 2,250,784 |   | $ | 2,965,480 |   |
| Secured                Debt                        |   |   | 24,160  |   |   | 90,374  |   |   | 242,559 |   |   | 125,825    |   |   | 108,044 |   |   | 695,917 |   |   | 1,286,879 |   |
|                                               |   |   |    |   |   |    |   |   |    |   |   |       |   |   |    |   |   |   |   |   |   |   |
| Ground                Lease Payments               |   |   | 484     |   |   | 1,876   |   |   | 1,782   |   |   | 1,737      |   |   | 1,691   |   |   | 41,085 |   |   | 48,655 |   |
|                                               |   |   |    |   |   |    |   |   |    |   |   |       |   |   |    |   |   |   |   |   |   |   |
| Obligations                to Acquire Projects     |   |   | 256,828 |   |   |    |   |   |    |   |   |       |   |   |    |   |   |   |   |   | 256,828 |   |
|                                               |   |   |    |   |   |    |   |   |    |   |   |       |   |   |    |   |   |   |   |   |   |   |
| Obligations                to Develop Projects     |   |   | 30,387  |   |   | 158,834 |   |   | 26,329  |   |   | 898        |   |   |    |   |   |   |   |   | 216,448 |   |
|                                               |   |   |    |   |   |    |   |   |    |   |   |       |   |   |    |   |   |   |   |   |   |   |
| Total                Contractual Obligations       |   | $      | 616,727 |   | $      | 353,541 |   | $      | 373,127 |   | $      | 230,917    |   | $      | 212,192 |   | $ | 2,987,786 |   | $ | 4,774,290 |   |

**(1)**

**Funds      from Operations**

----

|                                                                                             |   | Three                Months Ended |    | Nine                Months Ended |   |
|--------------------------------------------------------------------------------------------------|--------|-----------------------------------|---------|----------------------------------|--------|
|                                                                                             |   | September                30,      |    | September                30,     |   |
|                                                                                             |   | 2006                              |    | 2005                             |   | 2006 |   | 2005 |   |
|                                                                                             |   |                              |    |                             |   |   |   |   |   |
| Net                income available to common shareholders                                       |   | $                                 | 103,223 |                             | $      | 58,958 |   | $ | 243,048 |   | $ | 160,674 |   |
| Depreciation                and amortization                                                     |   |                              | 31,475  |                             |   | 30,807 |   |   | 94,510 |   |   | 90,227 |   |
| Depreciation                and amortization of unconsolidated joint ventures                    |   |                              | 1,204   |                             |   | 735 |   |   | 3,328 |   |   | 2,578 |   |
| Gain                on sale of properties                                                        |   |                              | (72,260 | )                                |   | (27,880 | ) |   | (145,559 | ) |   | (67,593 | ) |
| (Gain)                loss on sale of properties of unconsolidated joint                ventures |   |                              |    |                             |   | (1 | ) |   | (4,054 | ) |   | 2 |   |
| Funds                from operations                                                             |   |                              | 63,642  |                             |   | 62,619 |   |   | 191,273 |   |   | 185,888 |   |
| Funds                from operations attributable to operating partnership                units  |   |                              | 1,355   |                             |   | 1,315 |   |   | 4,123 |   |   | 3,888 |   |
|                                                                                             |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Funds                from operations assuming conversion of OP units                             |   | $                                 | 64,997  |                             | $      | 63,934 |   | $ | 195,396 |   | $ | 189,776 |   |
|                                                                                             |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Weighted                average shares outstanding - basic                                       |   |                              | 86,567  |                             |   | 89,257 |   |   | 88,476 |   |   | 89,186 |   |
| Effect                of dilutive securities:                                                    |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Share                options and awards                                                          |   |                              | 905     |                             |   | 930 |   |   | 902 |   |   | 880 |   |
| Operating                partnership units                                                       |   |                              | 3,138   |                             |   | 3,129 |   |   | 3,150 |   |   | 3,060 |   |
|                                                                                             |   |                              |    |                             |   |   |   |   |   |   |   |   |   |
| Weighted                average shares outstanding - diluted                                     |   |                              | 90,610  |                             |   | 93,316 |   |   | 92,528 |   |   | 93,126 |   |

**Newly      Adopted Accounting Pronouncements**

----

----

**ITEM      3.**
**Quantitative      and Qualitative Disclosure About Market Risk**

**ITEM      4.**
**Controls      and Procedures**

----

**PART      II**
**-**
**OTHER      INFORMATION**

**Item      1. Legal Proceedings**

**Item      1A. Risk Factors**

**Item      2. Unregistered Sales of Equity Securities and Use of      Proceeds**

**Item      3.**
**Defaults      upon Senior Securities**

**Item      4**
**Submission      of Matters to a Vote of Security Holders**

**Item      5.**
**Other      Information**

**Item      6.**
**Exhibits**

----

**SIGNATURES**

|   | WEINGARTEN                REALTY INVESTORS |
|--------|--------------------------------------------|
|   | (Registrant)                               |
|   |                                       |   |
|   |                                       |   |
|   | By:                                        | /s/                Andrew M. Alexander |
|   |                                       | Andrew                M. Alexander |
|   |                                       | Chief                Executive Officer |
|   |                                       |   |
|   |                                       |   |
|   | By:                                        | /s/                Joe D. Shafer |
|   |                                       | Joe                D. Shafer |
|   |                                       | Vice                President/Chief Accounting Officer |
|   |                                       | (Principal                Accounting Officer) |

----

**EXHIBIT      INDEX**

| (a)  |    | Exhibits:                                                                                                                                                                                                                                                                                                                                                                                    |   |
|------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| 3.1  | — | Restated                  Declaration of Trust (filed as Exhibit 3.1 to WRI's Registration                  Statement                  on Form 8-A dated January 19, 1999 and incorporated herein by                  reference).                                                                                                                                                            |
| 3.2  | — | Amendment                  of the Restated Declaration of Trust (filed as Exhibit 3.2 to WRI's                  Registration Statement on Form 8-A dated January 19, 1999 and incorporated                  herein by reference).                                                                                                                                                            |
| 3.3  | — | Second                  Amendment of the Restated Declaration of Trust (filed as Exhibit                  3.3 to                  WRI's Registration Statement on Form 8-A dated January 19, 1999                  and                  incorporated herein by reference).                                                                                                                   |
| 3.4  | — | Third                  Amendment of the Restated Declaration of Trust (filed as Exhibit                  3.4 to                  WRI's Registration Statement on Form 8-A dated January 19, 1999                  and                  incorporated herein by reference).                                                                                                                    |
| 3.5  | — | Fourth                  Amendment of the Restated Declaration of Trust dated April 28,                  1999 (filed                  as Exhibit 3.5 to WRI's Annual Report on Form 10-K for the year                  ended                  December 31, 2001 and incorporated herein by                  reference).                                                                       |
| 3.6  | — | Fifth                  Amendment of the Restated Declaration of Trust dated April 20,                  2001 (filed                  as Exhibit 3.6 to WRI's Annual Report on Form 10-K for the year                  ended                  December 31, 2001 and incorporated herein by                  reference).                                                                        |
| 3.7  | — | Amended                  and Restated Bylaws of WRI (filed as Exhibit 99.2 to WRI's Registration                  Statement on Form 8-A dated February 23, 1998 and incorporated                  herein by                  reference).                                                                                                                                                     |
| 4.1  | — | Subordinated                  Indenture dated as of May 1, 1995 between WRI and Chase Bank of                  Texas,                  National Association (formerly, Texas Commerce Bank National Association)                  (filed as Exhibit 4(a) to WRI's Registration Statement on Form                  S-3 (No.                  33-57659) and incorporated herein by reference). |
| 4.2  | — | Subordinated                  Indenture dated as of May 1, 1995 between WRI and Chase Bank of                  Texas,                  National Association (formerly, Texas Commerce Bank National Association)                  (filed as Exhibit 4(b) to WRI's Registration Statement on Form                  S-3 (No.                  33-57659) and incorporated herein by reference). |
| 4.3  | — | Form                  of Fixed Rate Senior Medium Term Note (filed as Exhibit 4.19 to                  WRI's                  Annual Report on Form 10-K for the year ended December 31, 1998                  and                  incorporated herein by reference).                                                                                                                       |
| 4.4  | — | Form                  of Floating Rate Senior Medium Term Note (filed as Exhibit 4.20                  to WRI's                  Annual Report on Form 10-K for the year ended December 31, 1998                  and                  incorporated herein by reference).                                                                                                                    |
| 4.5  | — | Form                  of Fixed Rate Subordinated Medium Term Note (filed as Exhibit 4.21                  to                  WRI’s Annual Report on Form 10-K for the year ended December 31, 1998                  and                  incorporated herein by reference).                                                                                                           |
| 4.6  | — | Form                  of Floating Rate Subordinated Medium Term Note (filed as Exhibit                  4.22 to                  WRI’s Annual Report on Form 10-K for the year ended December 31, 1998                  and                  incorporated herein by reference).                                                                                                        |
| 4.7  | — | Statement                  of Designation of 6.75% Series D Cumulative Redeemable Preferred                  Shares                  (filed as Exhibit 3.1 to WRI’s Registration Statement on Form 8-A dated                  April 17, 2003 and incorporated herein by reference).                                                                                                    |
| 4.8  | — | Statement                  of Designation of 6.95% Series E Cumulative Redeemable Preferred                  Shares                  (filed as Exhibit 3.1 to WRI’s Registration Statement on Form 8-A dated                  July 8, 2004 and incorporated herein by reference).                                                                                                      |
| 4.9  | — | 6.75%                  Series D Cumulative Redeemable Preferred Share Certificate (filed                  as                  Exhibit 4.2 to WRI’s Registration Statement on Form 8-A dated April 17,                  2003 and incorporated herein by reference).                                                                                                                     |
| 4.10 | — | 6.95%                  Series E Cumulative Redeemable Preferred Share Certificate (filed                  as                  Exhibit 4.2 to WRI’s Registration Statement on Form 8-A dated July 8, 2004                  and incorporated herein by                  reference).                                                                                                      |

----

| 4.11         | — | Form                of Receipt for Depositary Shares, each representing 1/30 of a share                of                6.75% Series D Cumulative Redeemable Preferred Shares, par value                $.03 per                share (filed as Exhibit 4.3 to WRI’s Registration Statement on Form 8-A                dated April 17, 2003 and incorporated herein by                reference).                                                                                           |
|--------------|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.12         | — | Form                of Receipt for Depositary Shares, each representing 1/100 of a share                of                6.95% Series E Cumulative Redeemable Preferred Shares, par value                $.03 per                share (filed as Exhibit 4.3 to WRI’s Registration Statement on Form 8-A                dated July 8, 2004 and incorporated herein by                reference).                                                                                            |
| 4.13         | — | Form                of 7% Notes due 2011 (filed as Exhibit 4.17 to WRI’s Annual Report on Form                10-K for the year ended December 31, 2001 and incorporated herein                by                reference).                                                                                                                                                                                                                                                                 |
| 10.1†  | — | 1988                Share Option Plan of WRI, as amended (filed as Exhibit 10.1 to WRI’s                Annual Report on Form 10-K for the year ended December 31, 1990 and                incorporated herein by reference).                                                                                                                                                                                                                                                                |
| 10.2†  | — | The                Savings and Investment Plan for Employees of Weingarten Realty Investors                dated December 17, 2003 (filed as Exhibit 10.34 on WRI’s Annual Report on                Form 10-K for the year ended December 31, 2005 and incorporated herein                by                reference).                                                                                                                                                                      |
| 10.3†  | — | The                Savings and Investment Plan for Employees of WRI, as amended (filed                as                Exhibit 4.1 to WRI’s Registration Statement on Form S-8 (No. 33-25581) and                incorporated herein by reference).                                                                                                                                                                                                                                         |
| 10.4†  | — | First                Amendment to the Savings and Investment Plan for Employees of Weingarten                Realty Investors dated August 1, 2005 (filed as Exhibit 10.25 on                WRI’s                Form 10-Q for the quarter ended September 30, 2005 and incorporated                herein                by reference).                                                                                                                                                    |
| 10.5†  | — | The                Fifth Amendment to Savings and Investment Plan for Employees of WRI                (filed                as Exhibit 4.1.1 to WRI’s Post-Effective Amendment No. 1 to Registration                Statement on Form S-8 (No. 33-25581) and incorporated herein by                reference).                                                                                                                                                                               |
| 10.6†  | — | Mandatory                Distribution Amendment for the Savings and Investment Plan for Employees                of Weingarten Realty Investors dated August 1, 2005 (filed as Exhibit                10.26 on WRI’s Form 10-Q for the quarter ended September 30, 2005 and                incorporated herein by reference).                                                                                                                                                                |
| 10.7†  | — | The                1993 Incentive Share Plan of WRI (filed as Exhibit 4.1 to WRI’s                Registration Statement on Form S-8 (No. 33-52473) and incorporated                herein                by reference).                                                                                                                                                                                                                                                                     |
| 10.8†  | — | 1999                WRI Employee Share Purchase Plan (filed as Exhibit 10.6 to WRI’s Annual                Report on Form 10-K for the year ended December 31, 1999 and incorporated                herein by reference).                                                                                                                                                                                                                                                                    |
| 10.9†  | — | 2001                Long Term Incentive Plan (filed as Exhibit 10.7 to WRI’s Annual Report on                Form 10-K for the year ended December 31, 2001 and incorporated herein                by                reference).                                                                                                                                                                                                                                                             |
| 10.10        | — | Master                Promissory Note in the amount of $20,000,000 between WRI, as payee,                and                Chase Bank of Texas, National Association (formerly, Texas Commerce                Bank                National Association), as maker, effective December 30, 1998 (filed                as                Exhibit 4.15 to WRI's Annual Report on Form 10-K for the year ended                December 31, 1999 and incorporated herein by                reference). |
| 10.11† | — | Weingarten                Realty Retirement Plan restated effective April 1, 2002 (filed as                Exhibit                10.29 on WRI’s Annual Report on Form 10-K for the year ended December 31,                2005 and incorporated herein by reference).                                                                                                                                                                                                                       |
| 10.12† | — | First                Amendment to the Weingarten Realty Retirement Plan, dated December                31,                2003 (filed as Exhibit 10.33 on WRI’s Annual Report on Form 10-K for the                year ended December 31, 2005 and incorporated herein by reference).                                                                                                                                                                                                        |
| 10.13† | — | First                Amendment to the Weingarten Realty Pension Plan, dated August 1,                2005                (filed as Exhibit 10.27 on WRI’s Form 10-Q for the quarter ended September                30, 2005 and incorporated herein by reference).                                                                                                                                                                                                                           |
| 10.14† | — | Mandatory                Distribution Amendment for the Weingarten Realty Retirement Plan                dated                August 1, 2005 (filed as Exhibit 10.28 on WRI’s Form 10-Q for the quarter                ended September 30, 2005 and incorporated herein by                reference).                                                                                                                                                                                        |
| 10.15† | — | Weingarten                Realty Investors Supplemental Executive Retirement Plan amended and                restated effective September 1, 2002 (filed as Exhibit 10.10 on WRI’s Form                10-Q for the quarter ended June 30, 2005 and incorporated herein                by                reference).                                                                                                                                                                         |

----

| 10.16† | — | First                Amendment to the Weingarten Realty Investors Supplemental Executive                Retirement Plan amended on November 3, 2003 (filed as Exhibit 10.11                on                WRI’s Form 10-Q for the quarter ended June 30, 2005 and incorporated                herein by reference).                                                                                                   |
|--------------|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.17† | — | Second                Amendment to the Weingarten Realty Investors Supplemental Executive                Retirement Plan amended October 22, 2004 (filed as Exhibit 10.12                on WRI’s                Form 10-Q for the quarter ended June 30, 2005 and incorporated herein                by                reference).                                                                                      |
| 10.18† | — | Third                Amendment to the Weingarten Realty Investors Supplemental Executive                Retirement Plan amended October 22, 2004 (filed as Exhibit 10.13                on WRI’s                Form 10-Q for the quarter ended June 30, 2005 and incorporated herein                by                reference).                                                                                       |
| 10.19† | — | Weingarten                Realty Investors Retirement Benefit Restoration Plan adopted effective                September 1, 2002 (filed as Exhibit 10.14 on WRI’s Form 10-Q for the                quarter ended June 30, 2005 and incorporated herein by                reference).                                                                                                                                    |
| 10.20† | — | First                Amendment to the Weingarten Realty Investors Retirement Benefit                Restoration Plan amended on November 3, 2003 (filed as Exhibit 10.15                on                WRI’s Form 10-Q for the quarter ended June 30, 2005 and incorporated                herein by reference).                                                                                                      |
| 10.21† | — | Second                Amendment to the Weingarten Realty Investors Retirement Benefit                Restoration Plan amended October 22, 2004 (filed as Exhibit 10.16                on WRI’s                Form 10-Q for the quarter ended June 30, 2005 and incorporated herein                by                reference).                                                                                         |
| 10.22† | — | Third                Amendment to the Weingarten Realty Pension Plan dated December 23,                2005                (filed as Exhibit 10.30 on WRI’s Annual Report on Form 10-K for the year                ended December 31, 2005 and incorporated herein by                reference).                                                                                                                         |
| 10.23† | — | Weingarten                Realty Investors Deferred Compensation Plan amended and restated                as a                separate and independent plan effective September 1, 2002 (filed                as                Exhibit 10.17 on WRI’s Form 10-Q for the quarter ended June 30, 2005 and                incorporated herein by reference).                                                               |
| 10.24† | — | Supplement                to the Weingarten Realty Investors Deferred Compensation Plan amended                on                April 25, 2003 (filed as Exhibit 10.18 on WRI’s Form 10-Q for the quarter                ended June 30, 2005 and incorporated herein by                reference).                                                                                                                      |
| 10.25† | — | First                Amendment to the Weingarten Realty Investors Deferred Compensation                Plan                amended on November 3, 2003 (filed as Exhibit 10.19 on WRI’s Form 10-Q for                the quarter ended June 30, 2005 and incorporated herein by                reference).                                                                                                               |
| 10.26† | — | Second                Amendment to the Weingarten Realty Investors Deferred Compensation                Plan,                as amended, dated October 13, 2005 (filed as Exhibit 10.29 on WRI’s Form                10-Q for the quarter ended September 30, 2005 and incorporated herein                by                reference).                                                                                  |
| 10.27† | — | Trust                Under the Weingarten Realty Investors Deferred Compensation Plan                amended                and restated effective October 21, 2003 (filed as Exhibit 10.21 on                WRI’s                Form 10-Q for the quarter ended June 30, 2005 and incorporated herein                by                reference).                                                                    |
| 10.28† | — | Fourth                Amendment to the Weingarten Realty Investors Deferred Compensation                Plan,                dated December 23, 2005 (filed as Exhibit 10.31 on WRI’s Annual Report on                Form 10-K for the year ended December 31, 2005 and incorporated herein                by                reference).                                                                                |
| 10.29† | — | Trust                Under the Weingarten Realty Investors Retirement Benefit Restoration                Plan                amended and restated effective October 21, 2003 (filed as Exhibit                10.22 on                WRI’s Form 10-Q for the quarter ended June 30, 2005 and incorporated                herein by reference).                                                                          |
| 10.30† | — | Trust                Under the Weingarten Realty Investors Supplemental Executive Retirement                Plan amended and restated effective October 21, 2003 (filed as Exhibit                10.23 on WRI’s Form 10-Q for the quarter ended June 30, 2005 and                incorporated herein by reference).                                                                                                     |
| 10.31† | — | First                Amendment to the Trust Under the Weingarten Realty Investors Deferred                Compensation Plan, Supplemental Executive Retirement Plan, and Retirement                Benefit Restoration Plan amended on March 16, 2004 (filed as Exhibit                10.24                on WRI’s Form 10-Q for the quarter ended June 30, 2005 and incorporated                herein by reference). |
| 10.32† | — | Third                Amendment to the Weingarten Realty Investors Deferred Compensation                Plan                dated August 1, 2005 (filed as Exhibit 10.30 on WRI’s Form 10-Q for the                quarter ended September 30, 2005 and incorporated herein by                reference).                                                                                                                 |
| 10.33        | — | Amended                and Restated Credit Agreement dated February 22, 2006 among Weingarten                Realty Investors, the Lenders Party Hereto and JPMorgan Chase Bank,                N.A.,                as Administrative Agent (filed as Exhibit 10.32 on WRI’s Form 10-K for the                year ended December 31, 2005 and incorporated by                reference).                               |

----

| 10.34†  | — | Fifth                  Amendment to the Weingarten Realty Investors Deferred Compensation                  Plan                  (filed as Exhibit 10.34 to WRI’s Form 10-Q for quarter ended June 30, 2006                  and incorporated herein by reference).                               |
|---------------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.35†* | — | Restatement                  of the Weingarten Realty Investors Supplemental Executive Retirement                  Plan                  dated August 4, 2006.                                                                                                                                          |
| 10.36†* | — | Restatement                  of the Weingarten Realty Investors Deferred Compensation Plan dated                  August                  4, 2006.                                                                                                                                                      |
| 10.37†* | — | Restatement                  of the Weingarten Realty Investors Retirement Benefit Restoration                  Plan                  dated August 4, 2006.                                                                                                                                             |
| 12.1*         | — | Computation                  of Fixed Charges Ratios.                                                                                                                                                                                                                                                   |
| 14.1          | — | Code                  of Ethical Conduct for Senior Financial Officers - Andrew M. Alexander                  (filed as Exhibit 14.1 to WRI’s Annual Report on Form 10-K for the year                  ended December 31, 2003 and incorporated herein by                  reference).            |
| 14.2          | — | Code                  of Ethical Conduct for Senior Financial Officers - Stephen C. Richter                  (filed as Exhibit 14.2 to WRI’s Annual Report on Form 10-K for the year                  ended December 31, 2003 and incorporated herein by                  reference).             |
| 14.3          | — | Code                  of Ethical Conduct for Senior Financial Officers - Joe D. Shafer                  (filed as                  Exhibit 14.3 to WRI’s Annual Report on Form 10-K for the year ended                  December 31, 2003 and incorporated herein by                  reference). |
| 31.1*         | — | Certification                  pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002 (Chief                  Executive Officer).                                                                                                                                                                 |
| 31.2*         | — | Certification                  pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002 (Chief                  Financial Officer).                                                                                                                                                                 |
| 32.1**        | — | Certification                  pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906                  of the                  Sarbanes-Oxley Act of 2002 (Chief Executive Officer).                                                                                                          |
| 32.2**        | — | Certification                  pursuant to 18 U.S.C. Sec. 1350, as adopted pursuant to Sec. 906                  of the                  Sarbanes-Oxley Act of 2002 (Chief Financial                  Officer).                                                                                         |

| * | Filed                with this report. |
|---|----------------------------------------|

| ** | Furnished                with this report. |
|----|--------------------------------------------|

| † | Management                contract or compensation plan or                arrangement. |
|---------|----------------------------------------------------------------------------------------|

----