California State Teachers Retirement System raised its position in shares of WP Carey Inc (NYSE:WPC) by 64.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 283,611 shares of the real estate investment trust’s stock after purchasing an additional 110,984 shares during the quarter. California State Teachers Retirement System owned 0.18% of WP Carey worth $18,531,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of WPC. Vanguard Group Inc. lifted its holdings in shares of WP Carey by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 15,410,572 shares of the real estate investment trust’s stock valued at $991,053,000 after buying an additional 44,898 shares during the period. Vanguard Group Inc lifted its holdings in shares of WP Carey by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 15,410,572 shares of the real estate investment trust’s stock valued at $991,053,000 after buying an additional 44,898 shares during the period. BlackRock Inc. lifted its holdings in shares of WP Carey by 73.6% in the 4th quarter. BlackRock Inc. now owns 12,757,812 shares of the real estate investment trust’s stock valued at $833,594,000 after buying an additional 5,409,609 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of WP Carey by 454.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 2,536,876 shares of the real estate investment trust’s stock valued at $165,759,000 after buying an additional 2,079,698 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of WP Carey by 16.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,862,771 shares of the real estate investment trust’s stock valued at $121,714,000 after buying an additional 266,288 shares during the period. Institutional investors and hedge funds own 51.89% of the company’s stock.
WPC has been the subject of several analyst reports. Zacks Investment Research raised WP Carey from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. JPMorgan Chase & Co. initiated coverage on WP Carey in a report on Wednesday, December 19th. They issued a “neutral” rating and a $73.00 price objective for the company. Capital One Financial reissued an “equal weight” rating on shares of WP Carey in a report on Tuesday, March 5th. Finally, ValuEngine raised WP Carey from a “hold” rating to a “buy” rating in a report on Friday, December 21st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $70.81.
Shares of WPC stock opened at $77.14 on Friday. The stock has a market capitalization of $12.81 billion, a PE ratio of 14.31 and a beta of 0.60. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.92. WP Carey Inc has a 52-week low of $60.50 and a 52-week high of $77.43.
WP Carey (NYSE:WPC) last released its quarterly earnings results on Friday, February 22nd. The real estate investment trust reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.03. The company had revenue of $273.40 million during the quarter, compared to analysts’ expectations of $283.87 million. WP Carey had a return on equity of 9.81% and a net margin of 49.68%. WP Carey’s quarterly revenue was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 EPS. As a group, equities research analysts expect that WP Carey Inc will post 5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 29th will be issued a $1.032 dividend. This is a boost from WP Carey’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $4.13 dividend on an annualized basis and a yield of 5.35%. WP Carey’s dividend payout ratio is presently 76.44%.
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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 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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