Buckingham Asset Management LLC acquired a new stake in WP Carey Inc (NYSE:WPC) in the first quarter, HoldingsChannel reports. The institutional investor acquired 6,022 shares of the real estate investment trust’s stock, valued at approximately $472,000.
A number of other large investors have also made changes to their positions in the business. Wealthcare Advisory Partners LLC lifted its position in shares of WP Carey by 1.7% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 7,850 shares of the real estate investment trust’s stock valued at $513,000 after buying an additional 135 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of WP Carey by 40.5% during the 4th quarter. Proficio Capital Partners LLC now owns 486 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 140 shares during the last quarter. Baystate Wealth Management LLC lifted its position in shares of WP Carey by 22.5% during the 1st quarter. Baystate Wealth Management LLC now owns 785 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 144 shares during the last quarter. Winslow Evans & Crocker Inc. lifted its position in shares of WP Carey by 2.5% during the 4th quarter. Winslow Evans & Crocker Inc. now owns 6,144 shares of the real estate investment trust’s stock valued at $404,000 after buying an additional 150 shares during the last quarter. Finally, Brookstone Capital Management lifted its position in shares of WP Carey by 4.1% during the 1st quarter. Brookstone Capital Management now owns 4,055 shares of the real estate investment trust’s stock valued at $318,000 after buying an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 49.76% of the company’s stock.
WPC has been the topic of a number of recent research reports. Zacks Investment Research raised WP Carey from a “sell” rating to a “hold” rating in a research report on Saturday, March 2nd. ValuEngine raised WP Carey from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Mitsubishi UFJ Financial Group initiated coverage on WP Carey in a research report on Tuesday, March 26th. They set a “neutral” rating and a $78.00 price target on the stock. Evercore ISI cut WP Carey from an “in-line” rating to an “underperform” rating in a research report on Monday, April 1st. They noted that the move was a valuation call. Finally, Capital One Financial reaffirmed an “equal weight” rating on shares of WP Carey in a research report on Tuesday, March 5th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $72.25.
Shares of WPC opened at $78.86 on Tuesday. The stock has a market cap of $13.46 billion, a P/E ratio of 14.63, a P/E/G ratio of 3.98 and a beta of 0.60. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.44 and a current ratio of 0.44. WP Carey Inc has a 52-week low of $62.12 and a 52-week high of $79.86.
WP Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. The business had revenue of $298.30 million for the quarter, compared to analysts’ expectations of $304.42 million. WP Carey had a return on equity of 9.81% and a net margin of 49.68%. The firm’s quarterly revenue was up 47.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 EPS. As a group, research analysts expect that WP Carey Inc will post 4.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were issued a dividend of $1.032 per share. This is a boost from WP Carey’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $4.13 dividend on an annualized basis and a yield of 5.23%. WP Carey’s dividend payout ratio is 76.62%.
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WP Carey Company 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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