RFG Advisory LLC lowered its stake in shares of WP Carey Inc (NYSE:WPC) by 15.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 9,281 shares of the real estate investment trust’s stock after selling 1,720 shares during the period. RFG Advisory LLC’s holdings in WP Carey were worth $605,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Two Sigma Advisers LP lifted its stake in WP Carey by 53.8% during the 1st quarter. Two Sigma Advisers LP now owns 130,300 shares of the real estate investment trust’s stock valued at $7,568,000 after acquiring an additional 45,600 shares during the period. Pensionfund Sabic grew its holdings in WP Carey by 29.9% during the 3rd quarter. Pensionfund Sabic now owns 16,500 shares of the real estate investment trust’s stock valued at $1,075,000 after buying an additional 3,800 shares in the last quarter. Principal Financial Group Inc. grew its holdings in WP Carey by 61.6% during the 1st quarter. Principal Financial Group Inc. now owns 18,666 shares of the real estate investment trust’s stock valued at $1,084,000 after buying an additional 7,113 shares in the last quarter. Guggenheim Capital LLC grew its holdings in WP Carey by 16.1% during the 1st quarter. Guggenheim Capital LLC now owns 78,451 shares of the real estate investment trust’s stock valued at $4,556,000 after buying an additional 10,876 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in WP Carey by 216.3% during the 1st quarter. Invesco Ltd. now owns 111,548 shares of the real estate investment trust’s stock valued at $6,478,000 after buying an additional 76,285 shares in the last quarter. Institutional investors and hedge funds own 62.16% of the company’s stock.
A number of equities research analysts have issued reports on WPC shares. BMO Capital Markets reaffirmed a “buy” rating on shares of WP Carey in a report on Friday, July 31st. Zacks Investment Research raised shares of WP Carey from a “sell” rating to a “hold” rating in a report on Thursday, August 20th. Finally, TheStreet upgraded WP Carey from a “c+” rating to a “b” rating in a research report on Tuesday, September 22nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $74.25.
Shares of WPC opened at $66.69 on Thursday. The company has a market cap of $11.60 billion, a PE ratio of 33.68 and a beta of 0.70. The business has a fifty day moving average of $68.06 and a 200 day moving average of $65.81. WP Carey Inc has a 52-week low of $38.62 and a 52-week high of $93.62. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.90.
WP Carey (NYSE:WPC) last issued its quarterly earnings results on Friday, July 31st. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.01. The company had revenue of $290.50 million during the quarter, compared to the consensus estimate of $291.88 million. WP Carey had a return on equity of 4.98% and a net margin of 28.17%. WP Carey’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. As a group, research analysts anticipate that WP Carey Inc will post 4.62 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of $1.044 per share. This represents a $4.18 annualized dividend and a dividend yield of 6.26%. This is an increase from WP Carey’s previous quarterly dividend of $1.04. The ex-dividend date is Tuesday, September 29th. WP Carey’s dividend payout ratio (DPR) is 83.60%.
About WP Carey
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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