Strs Ohio Has $5.47 Million Stock Holdings in W.P. Carey Inc. $WPC

Strs Ohio cut its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 65.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,883 shares of the real estate investment trust’s stock after selling 150,454 shares during the period. Strs Ohio’s holdings in W.P. Carey were worth $5,465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of WPC. Norges Bank bought a new position in shares of W.P. Carey during the 2nd quarter worth approximately $151,411,000. Captrust Financial Advisors boosted its holdings in W.P. Carey by 2,712.0% during the second quarter. Captrust Financial Advisors now owns 771,534 shares of the real estate investment trust’s stock worth $48,128,000 after purchasing an additional 744,097 shares during the last quarter. GRS Advisors LLC bought a new position in W.P. Carey in the second quarter valued at $37,694,000. First Trust Advisors LP increased its stake in W.P. Carey by 422.2% in the 2nd quarter. First Trust Advisors LP now owns 736,437 shares of the real estate investment trust’s stock valued at $45,939,000 after buying an additional 595,404 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in W.P. Carey by 165.6% during the 2nd quarter. Balyasny Asset Management L.P. now owns 830,543 shares of the real estate investment trust’s stock worth $51,809,000 after buying an additional 517,855 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WPC has been the subject of several analyst reports. Evercore ISI decreased their price objective on W.P. Carey from $72.00 to $71.00 and set an “in-line” rating for the company in a report on Monday, December 15th. Weiss Ratings reissued a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, January 21st. Royal Bank Of Canada boosted their price target on W.P. Carey from $69.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 7th. Citigroup upped their price objective on W.P. Carey from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Finally, Barclays set a $65.00 target price on shares of W.P. Carey in a research note on Tuesday, January 13th. Three analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.70.

W.P. Carey Price Performance

NYSE:WPC opened at $68.57 on Tuesday. W.P. Carey Inc. has a 12-month low of $54.24 and a 12-month high of $70.28. The firm has a market capitalization of $15.03 billion, a price-to-earnings ratio of 41.56, a P/E/G ratio of 5.92 and a beta of 0.79. The stock’s 50 day moving average price is $66.40 and its two-hundred day moving average price is $66.38. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.02.

W.P. Carey (NYSE:WPC) last posted its earnings results on Tuesday, October 28th. The real estate investment trust reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.02. W.P. Carey had a return on equity of 4.40% and a net margin of 21.75%.The business had revenue of $431.30 million for the quarter, compared to analyst estimates of $424.44 million. During the same period in the previous year, the firm earned $1.18 EPS. The firm’s revenue was up 8.5% compared to the same quarter last year. On average, analysts anticipate that W.P. Carey Inc. will post 4.87 earnings per share for the current year.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a yield of 5.4%. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, December 31st. W.P. Carey’s dividend payout ratio (DPR) is presently 223.03%.

W.P. Carey Company Profile

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.