Green Street Investors LLC bought a new stake in shares of WP Carey Inc (NYSE:WPC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 104,500 shares of the real estate investment trust’s stock, valued at approximately $9,353,000. WP Carey makes up about 5.5% of Green Street Investors LLC’s holdings, making the stock its 6th biggest holding. Green Street Investors LLC owned about 0.06% of WP Carey at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Centaurus Financial Inc. grew its holdings in 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 valued at $26,000 after buying an additional 811 shares in the last quarter. Lenox Wealth Advisors LLC purchased a new position in WP Carey during the 3rd quarter valued at about $26,000. Manchester Financial Inc. purchased a new position in WP Carey during the 2nd quarter valued at about $32,000. Parkside Financial Bank & Trust grew its holdings in WP Carey by 406.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 400 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 321 shares in the last quarter. Finally, TD Capital Management LLC purchased a new position in shares of WP Carey during the second quarter worth about $45,000. 57.77% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently commented on the company. Zacks Investment Research raised WP Carey from a “sell” rating to a “hold” rating in a report on Saturday. ValuEngine lowered WP Carey from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets assumed coverage on WP Carey in a report on Friday, October 25th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $77.00.
Shares of NYSE WPC traded down $0.68 during midday trading on Friday, hitting $84.46. 621,950 shares of the company’s stock were exchanged, compared to its average volume of 825,606. WP Carey Inc has a 12-month low of $63.76 and a 12-month high of $93.62. The company has a current ratio of 0.67, a quick ratio of 0.35 and a debt-to-equity ratio of 0.87. The company has a market cap of $14.62 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 6.57 and a beta of 0.43. The business’s fifty day moving average price is $90.53 and its two-hundred day moving average price is $85.86.
WP Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.91). WP Carey had a return on equity of 5.31% and a net margin of 30.89%. The business had revenue of $318.01 million for the quarter, compared to analysts’ expectations of $317.44 million. During the same period in the previous year, the firm posted $0.70 EPS. The firm’s revenue for the quarter was up 51.9% compared to the same quarter last year. Equities analysts expect that WP Carey Inc will post 4.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $1.036 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $4.14 annualized dividend and a yield of 4.91%. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. WP Carey’s dividend payout ratio is currently 76.81%.
WP Carey 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.
Read More: How analysts view the yield curve
Want to see what other hedge funds are holding WPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WP Carey Inc (NYSE:WPC).
Receive News & Ratings for WP Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WP Carey and related companies with MarketBeat.com's FREE daily email newsletter.