Eaton Vance Management boosted its holdings in shares of WP Carey Inc (NYSE:WPC) by 21.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,461 shares of the real estate investment trust’s stock after purchasing an additional 15,398 shares during the quarter. Eaton Vance Management owned about 0.05% of WP Carey worth $5,625,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Hsbc Holdings PLC increased its stake in WP Carey by 18.1% in the 3rd quarter. Hsbc Holdings PLC now owns 17,495 shares of the real estate investment trust’s stock worth $1,125,000 after buying an additional 2,686 shares during the period. Franklin Resources Inc. increased its stake in WP Carey by 74.7% in the 3rd quarter. Franklin Resources Inc. now owns 8,726 shares of the real estate investment trust’s stock worth $561,000 after buying an additional 3,732 shares during the period. Brown Advisory Inc. increased its stake in WP Carey by 0.9% in the 3rd quarter. Brown Advisory Inc. now owns 888,512 shares of the real estate investment trust’s stock worth $57,140,000 after buying an additional 7,554 shares during the period. Dimensional Fund Advisors LP increased its stake in WP Carey by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,596,483 shares of the real estate investment trust’s stock worth $102,669,000 after buying an additional 12,442 shares during the period. Finally, D.A. Davidson & CO. increased its stake in WP Carey by 5.7% in the 3rd quarter. D.A. Davidson & CO. now owns 83,403 shares of the real estate investment trust’s stock worth $5,364,000 after buying an additional 4,509 shares during the period. 32.38% of the stock is currently owned by institutional investors.
WPC stock opened at $69.63 on Friday. The stock has a market capitalization of $11.01 billion, a P/E ratio of 13.14 and a beta of 0.58. WP Carey Inc has a 12 month low of $59.23 and a 12 month high of $71.29. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.21.
WP Carey (NYSE:WPC) last issued its earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.08. WP Carey had a net margin of 39.03% and a return on equity of 8.78%. The company had revenue of $209.40 million for the quarter, compared to analysts’ expectations of $215.47 million. During the same period in the prior year, the business earned $0.74 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. On average, equities research analysts expect that WP Carey Inc will post 5.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a yield of 5.92%. This is a boost from WP Carey’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Friday, December 28th. WP Carey’s dividend payout ratio is presently 77.36%.
In other WP Carey news, Director Christopher Niehaus bought 3,850 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were bought at an average cost of $66.08 per share, for a total transaction of $254,408.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jean Hoysradt bought 2,300 shares of the company’s stock in a transaction on Tuesday, November 6th. The shares were acquired at an average price of $64.73 per share, for a total transaction of $148,879.00. Following the completion of the acquisition, the director now owns 9,255 shares in the company, valued at $599,076.15. The disclosure for this purchase can be found here. 1.56% of the stock is owned by corporate insiders.
Several research firms recently commented on WPC. Zacks Investment Research downgraded shares of WP Carey from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. ValuEngine downgraded shares of WP Carey from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Bank of America raised their price target on shares of WP Carey from $59.00 to $66.25 and gave the stock an “underperform” rating in a research note on Monday, August 13th. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $70.08.
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About WP Carey
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.
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