First Allied Advisory Services Inc. grew its holdings in WP Carey Inc (NYSE:WPC) by 9.8% during the 1st quarter, HoldingsChannel reports. The fund owned 31,402 shares of the real estate investment trust’s stock after acquiring an additional 2,798 shares during the period. First Allied Advisory Services Inc.’s holdings in WP Carey were worth $2,460,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Valley National Advisers Inc. purchased a new stake in shares of WP Carey in the fourth quarter worth about $25,000. Karp Capital Management Corp purchased a new stake in shares of WP Carey in the fourth quarter worth about $26,000. Sage Capital Advisors llc purchased a new stake in shares of WP Carey in the fourth quarter worth about $26,000. Proficio Capital Partners LLC lifted its position in shares of WP Carey by 40.5% in the fourth quarter. Proficio Capital Partners LLC now owns 486 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 140 shares in the last quarter. Finally, Executive Wealth Management LLC purchased a new stake in shares of WP Carey in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 51.91% of the company’s stock.
Shares of NYSE WPC opened at $79.76 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.86. WP Carey Inc has a 1-year low of $62.12 and a 1-year high of $80.00. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 3.99 and a beta of 0.60.
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 for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.01. WP Carey had a return on equity of 8.12% and a net margin of 44.84%. The company had revenue of $298.30 million for the quarter, compared to analysts’ expectations of $304.42 million. During the same period in the previous year, the firm posted $0.72 earnings per share. The firm’s revenue for the quarter was up 47.8% on a year-over-year basis. As a group, analysts predict that WP Carey Inc will post 4.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were paid a dividend of $1.032 per share. This is a boost from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.13 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend was Thursday, March 28th. WP Carey’s payout ratio is presently 76.62%.
A number of equities research analysts recently commented on WPC shares. ValuEngine upgraded WP Carey from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Capital One Financial reiterated an “equal weight” rating on shares of WP Carey in a research report on Tuesday, March 5th. Zacks Investment Research upgraded WP Carey from a “sell” rating to a “hold” rating in a research report on Friday, March 8th. Finally, Mitsubishi UFJ Financial Group started coverage on WP Carey in a research report on Tuesday, March 26th. They issued a “neutral” rating and a $78.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. WP Carey presently has a consensus rating of “Hold” and an average target price of $72.05.
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WP Carey 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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