RFG Advisory LLC reduced its position in shares of WP Carey Inc (NYSE:WPC) by 15.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,281 shares of the real estate investment trust’s stock after selling 1,720 shares during the quarter. RFG Advisory LLC’s holdings in WP Carey were worth $605,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Heritage Wealth Advisors lifted its position in WP Carey by 1,832.5% in the second quarter. Heritage Wealth Advisors now owns 13,122 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 12,443 shares during the last quarter. Private Capital Group LLC lifted its position in WP Carey by 34.8% in the second quarter. Private Capital Group LLC now owns 929 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 240 shares during the last quarter. Ellevest Inc. lifted its position in WP Carey by 278.4% in the second quarter. Ellevest Inc. now owns 965 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 710 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in WP Carey in the first quarter worth $69,000. Finally, Ameritas Investment Company LLC lifted its position in WP Carey by 115.3% in the first quarter. Ameritas Investment Company LLC now owns 1,550 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 830 shares during the last quarter. Hedge funds and other institutional investors own 62.16% of the company’s stock.
WPC opened at $66.69 on Thursday. The business’s 50-day moving average is $68.06 and its two-hundred day moving average is $65.81. WP Carey Inc has a 1 year low of $38.62 and a 1 year high of $93.62. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a market capitalization of $11.60 billion, a PE ratio of 33.68 and a beta of 0.70.
WP Carey (NYSE:WPC) last posted its earnings results on Friday, July 31st. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.01. WP Carey had a return on equity of 4.98% and a net margin of 28.17%. The company had revenue of $290.50 million for the quarter, compared to analyst estimates of $291.88 million. During the same quarter in the previous year, the firm earned $1.07 earnings per share. The firm’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that WP Carey Inc will post 4.62 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $1.044 dividend. This represents a $4.18 annualized dividend and a yield of 6.26%. The ex-dividend date of this dividend is Tuesday, September 29th. This is a positive change from WP Carey’s previous quarterly dividend of $1.04. WP Carey’s payout ratio is 83.60%.
A number of analysts recently issued reports on WPC shares. TheStreet upgraded WP Carey from a “c+” rating to a “b” rating in a research report on Tuesday, September 22nd. Zacks Investment Research upgraded WP Carey from a “sell” rating to a “hold” rating in a research report on Thursday, August 20th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of WP Carey in a research report on Friday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. WP Carey presently has a consensus rating of “Hold” and an average target price of $74.25.
WP Carey Profile
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $17 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,163 net lease properties covering approximately 131 million square feet. For over four decades, the company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators.
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