Strs Ohio reduced its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 1.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 133,681 shares of the company’s stock after selling 1,485 shares during the period. Strs Ohio’s holdings in W.P. Carey were worth $9,280,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC boosted its stake in shares of W.P. Carey by 3.4% in the second quarter. Checchi Capital Advisers LLC now owns 2,458 shares of the company’s stock worth $171,000 after buying an additional 80 shares in the last quarter. Kempner Capital Management Inc. bought a new stake in shares of W.P. Carey during the second quarter worth about $208,000. LVW Advisors LLC bought a new stake in shares of W.P. Carey during the first quarter worth about $209,000. Bayesian Capital Management LP bought a new stake in shares of W.P. Carey during the first quarter worth about $245,000. Finally, Concorde Asset Management LLC bought a new stake in shares of W.P. Carey during the second quarter worth about $263,000. Hedge funds and other institutional investors own 47.84% of the company’s stock.
Shares of W.P. Carey Inc. (NYSE:WPC) traded down 1.32% on Friday, reaching $64.53. The company’s stock had a trading volume of 475,913 shares. The stock has a market cap of $6.82 billion, a P/E ratio of 37.96 and a beta of 0.92. W.P. Carey Inc. has a 52-week low of $51.12 and a 52-week high of $72.89. The firm’s 50 day moving average is $66.31 and its 200-day moving average is $65.71.
W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.65. W.P. Carey had a return on equity of 5.13% and a net margin of 19.50%. The firm earned $198.80 million during the quarter, compared to analysts’ expectations of $184.64 million. During the same quarter last year, the firm posted $1.31 earnings per share. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities research analysts forecast that W.P. Carey Inc. will post $2.20 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be paid a $0.985 dividend. This represents a $3.94 dividend on an annualized basis and a yield of 6.11%. The ex-dividend date is Thursday, September 29th. This is a boost from W.P. Carey’s previous quarterly dividend of $0.98. W.P. Carey’s dividend payout ratio (DPR) is 231.76%.
A number of brokerages have recently issued reports on WPC. Zacks Investment Research cut W.P. Carey from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 26th. BMO Capital Markets upgraded W.P. Carey from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $70.00 to $81.00 in a research note on Thursday, July 21st. They noted that the move was a valuation call. Citigroup Inc. upped their price objective on W.P. Carey from $54.00 to $59.00 and gave the stock a “sell” rating in a research note on Thursday, July 7th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of W.P. Carey in a research note on Sunday, September 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. W.P. Carey presently has a consensus rating of “Hold” and a consensus price target of $71.63.
About W.P. Carey
W. P. Carey provides long-term, sale-leaseback and build-to-suit transactions for companies worldwide, and manages a global investment portfolio. It has two primary business segments. Under the investment management segment, the Company earns revenue as the advisor to publicly owned, non-actively traded real estate investment trusts (REITs), which are sponsored by the Company under the Corporate Property Associates brand name (the CPA REITs) and invests in similar properties.
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