Strategic Wealth Partners Ltd. lifted its stake in shares of WP Carey Inc (NYSE:WPC) by 53.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 512 shares of the real estate investment trust’s stock after acquiring an additional 178 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in WP Carey were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in shares of WP Carey by 45.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,512,424 shares of the real estate investment trust’s stock worth $97,263,000 after purchasing an additional 474,831 shares in the last quarter. BlackRock Inc. grew its stake in shares of WP Carey by 1.7% during the second quarter. BlackRock Inc. now owns 7,228,551 shares of the real estate investment trust’s stock worth $479,613,000 after purchasing an additional 124,191 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of WP Carey by 22.8% during the third quarter. JPMorgan Chase & Co. now owns 594,962 shares of the real estate investment trust’s stock worth $38,262,000 after purchasing an additional 110,363 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of WP Carey by 2,859.5% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 97,603 shares of the real estate investment trust’s stock worth $6,476,000 after purchasing an additional 94,305 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new position in shares of WP Carey during the third quarter worth $5,000,000. 32.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of WPC stock opened at $69.63 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.18 and a quick ratio of 0.18. WP Carey Inc has a 12 month low of $59.23 and a 12 month high of $71.29. The firm has a market cap of $11.27 billion, a P/E ratio of 13.14 and a beta of 0.58.
WP Carey (NYSE:WPC) last released its quarterly earnings data on Friday, November 2nd. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.08. WP Carey had a net margin of 39.03% and a return on equity of 8.78%. The company had revenue of $209.40 million during the quarter, compared to the consensus estimate of $215.47 million. During the same quarter in the prior year, the firm posted $0.74 earnings per share. WP Carey’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that WP Carey Inc will post 5.25 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 5.92%. The ex-dividend date is Friday, December 28th. This is an increase from WP Carey’s previous quarterly dividend of $1.03. WP Carey’s dividend payout ratio is currently 77.36%.
In related news, Director Christopher Niehaus acquired 3,850 shares of the firm’s stock in a transaction on Tuesday, November 13th. The stock was bought at an average price of $66.08 per share, for a total transaction of $254,408.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jean Hoysradt acquired 2,300 shares of the firm’s stock in a transaction on Tuesday, November 6th. The stock was bought at an average price of $64.73 per share, with a total value of $148,879.00. Following the purchase, the director now directly owns 9,255 shares of the company’s stock, valued at $599,076.15. The disclosure for this purchase can be found here. Corporate insiders own 1.56% of the company’s stock.
A number of brokerages recently commented on WPC. Zacks Investment Research downgraded shares of WP Carey from a “hold” rating to a “sell” rating in a research note on Friday. Bank of America boosted their target price on shares of WP Carey from $59.00 to $66.25 and gave the stock an “underperform” rating in a research note on Monday, August 13th. Finally, ValuEngine upgraded shares of WP Carey from a “sell” rating to a “hold” rating in a research note on Thursday, October 11th. Three equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. WP Carey currently has an average rating of “Hold” and an average target price of $70.08.
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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 approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.
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