Private Advisor Group LLC boosted its stake in WP Carey Inc (NYSE:WPC) by 106.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,967 shares of the real estate investment trust’s stock after purchasing an additional 28,333 shares during the quarter. Private Advisor Group LLC owned approximately 0.05% of WP Carey worth $3,535,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. State Board of Administration of Florida Retirement System raised its holdings in shares of WP Carey by 0.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 144,963 shares of the real estate investment trust’s stock valued at $9,323,000 after acquiring an additional 802 shares in the last quarter. Legacy Financial Advisors Inc. raised its holdings in shares of WP Carey by 94.5% in the 3rd quarter. Legacy Financial Advisors Inc. now owns 27,787 shares of the real estate investment trust’s stock valued at $1,786,000 after acquiring an additional 13,500 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of WP Carey by 30.4% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 13,721 shares of the real estate investment trust’s stock valued at $882,000 after acquiring an additional 3,198 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in shares of WP Carey in the 3rd quarter valued at about $5,000,000. Finally, NewFocus Financial Group LLC raised its holdings in shares of WP Carey by 3.0% in the 3rd quarter. NewFocus Financial Group LLC now owns 38,444 shares of the real estate investment trust’s stock valued at $2,472,000 after acquiring an additional 1,109 shares in the last quarter. Institutional investors and hedge funds own 49.26% of the company’s stock.
Several analysts have weighed in on WPC shares. ValuEngine cut WP Carey from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Bank of America raised their price target on WP Carey from $59.00 to $66.25 and gave the company an “underperform” rating in a report on Monday, August 13th. Finally, Zacks Investment Research cut WP Carey from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $70.08.
NYSE:WPC opened at $65.05 on Friday. WP Carey Inc has a twelve month low of $59.23 and a twelve month high of $72.41. The stock has a market capitalization of $6.97 billion, a price-to-earnings ratio of 12.27 and a beta of 0.55. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.18.
WP Carey (NYSE:WPC) last released its quarterly 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 firm had revenue of $209.40 million for the quarter, compared to analysts’ expectations of $215.47 million. WP Carey had a return on equity of 8.78% and a net margin of 39.03%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 EPS. As a group, research analysts expect that WP Carey Inc will post 5.26 earnings per share for the current fiscal year.
The company also recently disclosed 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. This represents a $4.10 dividend on an annualized basis and a dividend yield of 6.30%. This is a boost from WP Carey’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Friday, September 28th. WP Carey’s dividend payout ratio (DPR) is currently 77.36%.
In other news, Director Jean Hoysradt acquired 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were bought at an average cost of $64.73 per share, with a total value of $148,879.00. Following the acquisition, the director now owns 9,255 shares in the company, valued at approximately $599,076.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.56% of the company’s stock.
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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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