Cullen Frost Bankers Inc. raised its holdings in shares of WP Carey Inc (NYSE:WPC) by 37.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,593 shares of the real estate investment trust’s stock after purchasing an additional 5,658 shares during the period. Cullen Frost Bankers Inc.’s holdings in WP Carey were worth $1,843,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Centaurus Financial Inc. boosted its stake in shares of WP Carey by 65.4% during the 1st quarter. Centaurus Financial Inc. now owns 2,051 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 811 shares during the period. Lenox Wealth Advisors LLC purchased a new stake in shares of WP Carey in the 3rd quarter worth approximately $26,000. Manchester Financial Inc. purchased a new stake in shares of WP Carey in the 2nd quarter worth approximately $32,000. Parkside Financial Bank & Trust lifted its position in shares of WP Carey by 406.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 400 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 321 shares during the period. Finally, TD Capital Management LLC purchased a new stake in shares of WP Carey in the 2nd quarter worth approximately $45,000. 57.77% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE WPC traded down $0.26 during trading hours on Friday, hitting $84.88. 20,555 shares of the stock were exchanged, compared to its average volume of 755,429. The company has a quick ratio of 0.35, a current ratio of 0.67 and a debt-to-equity ratio of 0.87. The company has a market cap of $14.62 billion, a PE ratio of 15.75, a PEG ratio of 6.57 and a beta of 0.43. The firm has a fifty day moving average price of $90.61 and a 200-day moving average price of $85.82. WP Carey Inc has a 12 month low of $63.76 and a 12 month high of $93.62.
WP Carey (NYSE:WPC) last posted its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $0.24 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.91). The firm had revenue of $318.01 million for the quarter, compared to the consensus estimate of $317.44 million. WP Carey had a return on equity of 5.31% and a net margin of 30.89%. The company’s revenue was up 51.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.70 EPS. As a group, equities analysts anticipate that WP Carey Inc will post 4.86 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $1.036 per share. This represents a $4.14 annualized dividend and a dividend yield of 4.88%. The ex-dividend date was Friday, September 27th. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. WP Carey’s payout ratio is 76.81%.
WPC has been the subject of several research reports. ValuEngine cut shares of WP Carey from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Zacks Investment Research cut shares of WP Carey from a “hold” rating to a “sell” rating in a research report on Sunday, November 3rd. Finally, BMO Capital Markets initiated coverage on shares of WP Carey in a research note on Friday, October 25th. They set an “outperform” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $77.00.
WP Carey Company Profile
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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