Legal & General Group Plc Acquires 37,279 Shares of W.P. Carey Inc. (WPC)

Legal & General Group Plc increased its stake in W.P. Carey Inc. (NYSE:WPC) by 17.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,856 shares of the real estate investment trust’s stock after buying an additional 37,279 shares during the period. Legal & General Group Plc’s holdings in W.P. Carey were worth $15,918,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of W.P. Carey during the fourth quarter worth $527,000. Comerica Bank raised its stake in shares of W.P. Carey by 58.2% in the fourth quarter. Comerica Bank now owns 8,688 shares of the real estate investment trust’s stock worth $529,000 after buying an additional 3,196 shares during the period. State Street Corp raised its stake in shares of W.P. Carey by 5.4% in the fourth quarter. State Street Corp now owns 1,846,111 shares of the real estate investment trust’s stock worth $109,091,000 after buying an additional 94,284 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of W.P. Carey by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,322,508 shares of the real estate investment trust’s stock worth $78,146,000 after buying an additional 33,412 shares during the period. Finally, Elkfork Partners LLC acquired a new stake in shares of W.P. Carey during the fourth quarter worth $511,000. Institutional investors own 49.08% of the company’s stock.

Institutional Ownership by Quarter for W.P. Carey (NYSE:WPC)

Shares of W.P. Carey Inc. (NYSE WPC) traded down 0.5066% during trading on Tuesday, reaching $67.4565. The company’s stock had a trading volume of 71,095 shares. W.P. Carey Inc. has a 12 month low of $55.77 and a 12 month high of $72.89. The firm has a market cap of $7.18 billion, a PE ratio of 27.2112 and a beta of 0.87. The company’s 50 day moving average price is $64.60 and its 200 day moving average price is $62.39.

W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Tuesday, May 9th. The real estate investment trust reported $0.53 earnings per share for the quarter, missing the consensus estimate of $1.12 by $0.59. The company had revenue of $188.10 million during the quarter, compared to analyst estimates of $223.82 million. W.P. Carey had a net margin of 33.03% and a return on equity of 7.73%. The company’s quarterly revenue was down 23.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 EPS. On average, equities analysts predict that W.P. Carey Inc. will post $2.68 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be paid a $1.00 dividend. This is a boost from W.P. Carey’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $4.00 annualized dividend and a dividend yield of 5.90%. W.P. Carey’s dividend payout ratio is presently 160.48%.

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A number of analysts have recently weighed in on WPC shares. BMO Capital Markets restated a “buy” rating and issued a $70.00 target price on shares of W.P. Carey in a research note on Wednesday, March 1st. Evercore ISI upgraded W.P. Carey to an “outperform” rating in a research report on Friday, March 3rd. Zacks Investment Research lowered W.P. Carey from a “buy” rating to a “hold” rating in a research report on Wednesday, March 15th. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of W.P. Carey in a research report on Tuesday, May 23rd. Finally, ValuEngine lowered W.P. Carey from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. W.P. Carey presently has a consensus rating of “Hold” and an average price target of $66.00.

W.P. Carey Company Profile

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “WPC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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