WP Carey Inc (WPC) Shares Bought by Bank of Montreal Can

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Bank of Montreal Can boosted its holdings in WP Carey Inc (NYSE:WPC) by 7.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,864 shares of the real estate investment trust’s stock after acquiring an additional 3,104 shares during the quarter. Bank of Montreal Can’s holdings in WP Carey were worth $3,014,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Assetmark Inc. purchased a new position in shares of WP Carey in the 2nd quarter worth about $117,000. Chicago Capital LLC purchased a new position in shares of WP Carey in the 2nd quarter worth about $207,000. Kovack Advisors Inc. purchased a new position in shares of WP Carey in the 3rd quarter worth about $209,000. Gradient Capital Advisors LLC purchased a new position in shares of WP Carey in the 2nd quarter worth about $213,000. Finally, Carret Asset Management LLC purchased a new position in shares of WP Carey in the 2nd quarter worth about $217,000. Institutional investors and hedge funds own 49.26% of the company’s stock.

WPC has been the subject of several analyst reports. Zacks Investment Research cut WP Carey from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Bank of America increased their target price on WP Carey from $59.00 to $66.25 and gave the company an “underperform” rating in a report on Monday, August 13th. Finally, ValuEngine upgraded WP Carey from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $70.08.

Shares of WPC stock opened at $64.73 on Tuesday. The stock has a market cap of $7.03 billion, a P/E ratio of 12.21 and a beta of 0.55. WP Carey Inc has a 1-year low of $59.23 and a 1-year high of $72.41. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.19 and a quick ratio of 0.19.

WP Carey (NYSE:WPC) last issued its earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.08. The company had revenue of $209.40 million during the quarter, compared to analysts’ expectations of $215.47 million. WP Carey had a return on equity of 8.72% and a net margin of 39.03%. WP Carey’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. As a group, equities research analysts expect that WP Carey Inc will post 5.26 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were issued a dividend of $1.025 per share. The ex-dividend date was Friday, September 28th. This is a boost from WP Carey’s previous quarterly dividend of $1.02. This represents a $4.10 annualized dividend and a yield of 6.33%. WP Carey’s dividend payout ratio is currently 77.36%.

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About WP Carey

Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of over $11 billion and a portfolio of operationally-critical commercial real estate totaling 878 properties covering approximately 87 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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Institutional Ownership by Quarter for WP Carey (NYSE:WPC)

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