SG Americas Securities LLC reduced its holdings in shares of WP Carey Inc (NYSE:WPC) by 14.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,471 shares of the real estate investment trust’s stock after selling 14,432 shares during the period. SG Americas Securities LLC’s holdings in WP Carey were worth $7,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in WPC. Centaurus Financial Inc. grew its stake 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 purchasing an additional 811 shares during the last quarter. Lenox Wealth Advisors LLC purchased a new stake in WP Carey during the 3rd quarter valued at about $26,000. Manchester Financial Inc. purchased a new stake in WP Carey during the 2nd quarter valued at about $32,000. Parkside Financial Bank & Trust grew its stake 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 purchasing an additional 321 shares during the last quarter. Finally, TD Capital Management LLC purchased a new stake in WP Carey during the 2nd quarter valued at about $45,000. 57.77% of the stock is currently owned by institutional investors.
Shares of WPC traded down $0.68 during mid-day trading on Friday, reaching $84.46. The company had a trading volume of 621,950 shares, compared to its average volume of 825,606. WP Carey Inc has a 52-week low of $63.76 and a 52-week high of $93.62. 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 stock has a market capitalization of $14.62 billion, a P/E ratio of 15.67, a PEG ratio of 6.57 and a beta of 0.43. The stock has a 50 day moving average of $90.53 and a two-hundred day moving average of $85.86.
WP Carey (NYSE:WPC) last issued its earnings results on Friday, November 1st. The real estate investment trust reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.91). WP Carey had a return on equity of 5.31% and a net margin of 30.89%. The company had revenue of $318.01 million during the quarter, compared to analysts’ expectations of $317.44 million. During the same quarter in the previous year, the company earned $0.70 EPS. The firm’s quarterly revenue was up 51.9% compared to the same quarter last year. On average, sell-side analysts expect that WP Carey Inc will post 4.86 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $1.036 dividend. This is an increase from WP Carey’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, September 27th. This represents a $4.14 dividend on an annualized basis and a dividend yield of 4.91%. WP Carey’s dividend payout ratio is presently 76.81%.
Several analysts have weighed in on WPC shares. Zacks Investment Research upgraded WP Carey from a “sell” rating to a “hold” rating in a research note on Saturday. ValuEngine downgraded WP Carey from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets started coverage on WP Carey in a research note on Friday, October 25th. They set an “outperform” rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. WP Carey presently has an average rating of “Hold” and an average price target of $77.00.
About WP Carey
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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