Summit X LLC lessened its holdings in WP Carey Inc (NYSE:WPC) by 32.2% in the 3rd quarter, Holdings Channel reports. The firm owned 4,915 shares of the real estate investment trust’s stock after selling 2,335 shares during the quarter. Summit X LLC’s holdings in WP Carey were worth $442,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in WPC. Vanguard Group Inc. lifted its stake in shares of WP Carey by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 24,606,389 shares of the real estate investment trust’s stock valued at $1,997,547,000 after purchasing an additional 952,682 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of WP Carey by 20.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,752,681 shares of the real estate investment trust’s stock valued at $386,964,000 after purchasing an additional 813,846 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of WP Carey by 153.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 570,157 shares of the real estate investment trust’s stock valued at $46,286,000 after purchasing an additional 345,535 shares during the last quarter. BlackRock Inc. lifted its stake in shares of WP Carey by 2.3% in the 2nd quarter. BlackRock Inc. now owns 13,659,733 shares of the real estate investment trust’s stock valued at $1,108,897,000 after purchasing an additional 309,781 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of WP Carey by 25.7% in the 2nd quarter. California Public Employees Retirement System now owns 1,217,880 shares of the real estate investment trust’s stock valued at $98,867,000 after purchasing an additional 248,908 shares during the last quarter. 56.27% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on WPC. ValuEngine lowered shares of WP Carey from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Zacks Investment Research reissued a “hold” rating on shares of WP Carey in a research report on Saturday. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $77.00.
WP Carey stock traded down $0.07 on Wednesday, reaching $89.93. 481,704 shares of the stock were exchanged, compared to its average volume of 527,709. The stock has a market cap of $15.49 billion, a PE ratio of 16.68, a PEG ratio of 6.85 and a beta of 0.44. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.87. WP Carey Inc has a twelve month low of $63.20 and a twelve month high of $92.27. The firm has a fifty day moving average price of $89.76 and a two-hundred day moving average price of $84.38.
WP Carey (NYSE:WPC) last released its earnings results on Friday, August 2nd. The real estate investment trust reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.85). The firm had revenue of $305.21 million for the quarter, compared to analyst estimates of $303.23 million. WP Carey had a return on equity of 6.72% and a net margin of 38.36%. During the same period in the prior year, the firm earned $0.60 EPS. Equities analysts anticipate that WP Carey Inc will post 4.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $1.036 per share. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, September 27th. This represents a $4.14 dividend on an annualized basis and a yield of 4.61%. WP Carey’s payout ratio is currently 76.81%.
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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