Green Street Investors LLC acquired a new position in WP Carey Inc (NYSE:WPC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 104,500 shares of the real estate investment trust’s stock, valued at approximately $9,353,000. WP Carey makes up approximately 5.5% of Green Street Investors LLC’s investment portfolio, making the stock its 6th biggest holding.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Centaurus Financial Inc. grew its stake in shares of WP Carey by 65.4% in the first quarter. Centaurus Financial Inc. now owns 2,051 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 811 shares during the last quarter. Lenox Wealth Advisors LLC purchased a new stake in shares of WP Carey in the third quarter worth $26,000. Manchester Financial Inc. purchased a new stake in shares of WP Carey in the second quarter worth $32,000. Parkside Financial Bank & Trust grew its stake in shares of WP Carey by 406.3% in the second quarter. Parkside Financial Bank & Trust now owns 400 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 321 shares during the last quarter. Finally, TD Capital Management LLC purchased a new stake in shares of WP Carey in the second quarter worth $45,000. Institutional investors and hedge funds own 57.77% of the company’s stock.
Shares of NYSE WPC traded down $0.68 during trading on Friday, reaching $84.46. The company had a trading volume of 621,950 shares, compared to its average volume of 825,606. WP Carey Inc has a 12-month low of $63.76 and a 12-month high of $93.62. The stock has a market cap of $14.62 billion, a PE ratio of 15.67, a P/E/G ratio of 6.57 and a beta of 0.43. The business’s 50-day moving average is $90.53 and its 200 day moving average is $85.86. The company has a quick ratio of 0.35, a current ratio of 0.67 and a debt-to-equity ratio of 0.87.
WP Carey (NYSE:WPC) last released its earnings results on Friday, November 1st. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.91). WP Carey had a return on equity of 5.31% and a net margin of 30.89%. The company had revenue of $318.01 million during the quarter, compared to analysts’ expectations of $317.44 million. During the same period in the prior year, the company posted $0.70 earnings per share. The company’s revenue was up 51.9% on a year-over-year basis. On average, analysts anticipate that WP Carey Inc will post 4.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $1.036 per share. The ex-dividend date was Friday, September 27th. This is a boost from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.14 annualized dividend and a dividend yield of 4.91%. WP Carey’s dividend payout ratio (DPR) is 76.81%.
A number of research firms have recently commented on WPC. Zacks Investment Research raised WP Carey from a “sell” rating to a “hold” rating in a research note on Saturday. ValuEngine cut WP Carey from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets began coverage on WP Carey in a research note on Friday, October 25th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $77.00.
About WP Carey
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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