SG Americas Securities LLC lessened its stake in WP Carey Inc (NYSE:WPC) by 14.7% in the 3rd quarter, Holdings Channel.com reports. The firm 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 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of WPC. PGGM Investments acquired a new stake in shares of WP Carey in the third quarter valued at approximately $232,393,000. Vanguard Group Inc. grew its position in WP Carey by 4.0% in the second quarter. Vanguard Group Inc. now owns 24,606,389 shares of the real estate investment trust’s stock worth $1,997,547,000 after acquiring an additional 952,682 shares during the period. JPMorgan Chase & Co. grew its position in WP Carey by 20.7% in the second quarter. JPMorgan Chase & Co. now owns 4,752,681 shares of the real estate investment trust’s stock worth $386,964,000 after acquiring an additional 813,846 shares during the period. Nuveen Asset Management LLC grew its position in WP Carey by 153.8% in the second quarter. Nuveen Asset Management LLC now owns 570,157 shares of the real estate investment trust’s stock worth $46,286,000 after acquiring an additional 345,535 shares during the period. Finally, BlackRock Inc. grew its position in WP Carey by 2.3% in the second quarter. BlackRock Inc. now owns 13,659,733 shares of the real estate investment trust’s stock worth $1,108,897,000 after acquiring an additional 309,781 shares during the period. 57.77% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on WPC. BMO Capital Markets began coverage on WP Carey in a research report on Friday, October 25th. They issued an “outperform” rating for the company. ValuEngine lowered WP Carey from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Finally, Zacks Investment Research upgraded WP Carey from a “sell” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. WP Carey presently has a consensus rating of “Hold” and a consensus target price of $77.00.
WP Carey (NYSE:WPC) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $0.24 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.91). WP Carey had a return on equity of 5.31% and a net margin of 30.89%. The firm had revenue of $318.01 million for the quarter, compared to analysts’ expectations of $317.44 million. During the same quarter in the prior year, the business earned $0.70 earnings per share. The company’s quarterly revenue was up 51.9% on a year-over-year basis. As a group, equities research analysts forecast that WP Carey Inc will post 4.86 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $1.036 per share. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.14 annualized dividend and a dividend yield of 4.91%. The ex-dividend date of this dividend was Friday, September 27th. WP Carey’s dividend payout ratio (DPR) is currently 76.81%.
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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