Real Estate Management Services LLC reduced its stake in W.P. Carey Inc. (NYSE:WPC) by 6.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,300 shares of the company’s stock after selling 5,700 shares during the period. W.P. Carey makes up 1.0% of Real Estate Management Services LLC’s investment portfolio, making the stock its 25th largest position. Real Estate Management Services LLC’s holdings in W.P. Carey were worth $5,852,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Checchi Capital Advisers LLC increased its stake in 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. acquired a new stake in W.P. Carey during the second quarter worth $208,000. LVW Advisors LLC acquired a new stake in W.P. Carey during the first quarter worth $209,000. Bayesian Capital Management LP acquired a new stake in W.P. Carey during the first quarter worth $245,000. Finally, Concorde Asset Management LLC acquired a new stake in W.P. Carey during the second quarter worth $263,000. Institutional investors and hedge funds own 47.84% of the company’s stock.
Shares of W.P. Carey Inc. (NYSE:WPC) traded down 1.12% during mid-day trading on Monday, hitting $63.81. 418,499 shares of the stock were exchanged. The stock has a market cap of $6.75 billion, a PE ratio of 37.54 and a beta of 0.87. W.P. Carey Inc. has a 12 month low of $51.12 and a 12 month high of $72.89. The stock’s 50 day moving average is $66.31 and its 200-day moving average is $65.71.
W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.24 earnings per share for the quarter, topping 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 business had revenue of $198.80 million for the quarter, compared to analyst estimates of $184.64 million. During the same quarter in the previous year, the firm earned $1.31 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. On average, analysts anticipate that W.P. Carey Inc. will post $2.20 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Monday, October 3rd will be paid a dividend of $0.985 per share. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.98. The ex-dividend date is Thursday, September 29th. This represents a $3.94 dividend on an annualized basis and a dividend yield of 6.17%. W.P. Carey’s payout ratio is presently 231.76%.
WPC has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $81.00 target price on shares of W.P. Carey in a research report on Friday, September 23rd. Wells Fargo & Co. reissued a “hold” rating on shares of W.P. Carey in a research report on Sunday, September 25th. Zacks Investment Research downgraded shares of W.P. Carey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Finally, Citigroup Inc. increased their price objective on shares of W.P. Carey from $54.00 to $59.00 and gave the company a “sell” rating in a research report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price 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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