Virginia Retirement Systems ET AL increased its holdings in shares of WP Carey Inc (NYSE:WPC) by 2.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 107,500 shares of the real estate investment trust’s stock after purchasing an additional 2,500 shares during the quarter. Virginia Retirement Systems ET AL owned 0.10% of WP Carey worth $6,913,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. acquired a new stake in WP Carey in the second quarter valued at approximately $117,000. First Hawaiian Bank acquired a new stake in WP Carey in the third quarter valued at approximately $123,000. Chicago Capital LLC acquired a new stake in WP Carey in the second quarter valued at approximately $207,000. Kovack Advisors Inc. acquired a new stake in WP Carey in the third quarter valued at approximately $209,000. Finally, Gradient Capital Advisors LLC acquired a new stake in WP Carey in the second quarter valued at approximately $213,000. 49.26% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on WPC shares. Zacks Investment Research raised shares of WP Carey from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, August 31st. ValuEngine raised shares of WP Carey from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. Finally, Bank of America increased their price objective on shares of WP Carey from $59.00 to $66.25 and gave the company an “underperform” rating in a research report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. WP Carey currently has a consensus rating of “Hold” and a consensus price target of $70.08.
Shares of NYSE:WPC opened at $64.57 on Friday. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 12.08 and a beta of 0.55. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.18 and a quick ratio of 0.19. WP Carey Inc has a 52-week low of $59.23 and a 52-week high of $72.41.
WP Carey (NYSE:WPC) last released its earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.08. The company had revenue of $209.40 million during the quarter, compared to analysts’ expectations of $215.47 million. WP Carey had a return on equity of 8.78% and a net margin of 39.03%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 EPS. On average, analysts anticipate that WP Carey Inc will post 5.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were paid a dividend of $1.025 per share. This is a boost from WP Carey’s previous quarterly dividend of $1.02. This represents a $4.10 annualized dividend and a dividend yield of 6.35%. The ex-dividend date of this dividend was Friday, September 28th. WP Carey’s dividend payout ratio is 77.36%.
In other WP Carey news, Director Jean Hoysradt bought 2,300 shares of WP Carey stock in a transaction dated Tuesday, November 6th. The stock was bought at an average cost of $64.73 per share, for a total transaction of $148,879.00. Following the purchase, the director now owns 9,255 shares in the company, valued at approximately $599,076.15. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.56% of the company’s stock.
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WP Carey Company Profile
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of over $11 billion and a portfolio of operationally-critical commercial real estate totaling 878 properties covering approximately 87 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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