Diligent Investors LLC raised its position in W.P. Carey Inc. (NYSE:WPC) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 9,500 shares of the company’s stock after buying an additional 44 shares during the period. Diligent Investors LLC’s holdings in W.P. Carey were worth $659,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. Kempen Capital Management N.V. raised its position in shares of W.P. Carey by 19.0% in the first quarter. Kempen Capital Management N.V. now owns 19,842 shares of the company’s stock valued at $1,235,000 after buying an additional 3,167 shares during the period. BB&T Securities LLC increased its stake in W.P. Carey by 791.2% in the first quarter. BB&T Securities LLC now owns 78,868 shares of the company’s stock worth $4,908,000 after buying an additional 70,018 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new stake in W.P. Carey during the first quarter worth approximately $498,000. Ancora Inverness LLC increased its stake in W.P. Carey by 3.9% in the first quarter. Ancora Inverness LLC now owns 27,230 shares of the company’s stock worth $1,695,000 after buying an additional 1,032 shares in the last quarter. Finally, LVW Advisors LLC bought a new stake in W.P. Carey during the first quarter worth approximately $209,000. 47.84% of the stock is currently owned by institutional investors.
Shares of W.P. Carey Inc. (NYSE:WPC) traded down 1.41% during midday trading on Tuesday, hitting $62.91. The company’s stock had a trading volume of 235,868 shares. The company has a market cap of $6.65 billion, a P/E ratio of 37.01 and a beta of 0.87. W.P. Carey Inc. has a 1-year low of $51.12 and a 1-year high of $72.89. The company has a 50-day moving average price of $66.17 and a 200 day moving average price of $65.81.
W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company had revenue of $198.80 million for the quarter, compared to analyst estimates of $184.64 million. During the same quarter last year, the company posted $1.31 EPS. The company’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities research analysts predict 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 $0.985 dividend. 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 annualized dividend and a dividend yield of 6.17%. W.P. Carey’s dividend payout ratio (DPR) is presently 231.76%.
WPC has been the subject of a number of recent analyst reports. BMO Capital Markets upgraded W.P. Carey from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $70.00 to $81.00 in a report on Thursday, July 21st. They noted that the move was a valuation call. Wells Fargo & Co. reiterated a “hold” rating on shares of W.P. Carey in a report on Sunday, September 25th. Zacks Investment Research upgraded W.P. Carey from a “hold” rating to a “strong-buy” rating and set a $82.00 price objective for the company in a report on Thursday, July 28th. Finally, Citigroup Inc. upped their price objective on W.P. Carey from $54.00 to $59.00 and gave the company a “sell” rating in a 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 given a buy rating to the stock. The company has a consensus 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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