Tower Research Capital LLC TRC Invests $69,000 in WP Carey Inc (NYSE:WPC)

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Tower Research Capital LLC TRC bought a new position in shares of WP Carey Inc (NYSE:WPC) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,188 shares of the real estate investment trust’s stock, valued at approximately $69,000.

A number of other institutional investors and hedge funds also recently modified their holdings of WPC. Quadrant Capital Group LLC lifted its holdings in WP Carey by 510.6% in the fourth quarter. Quadrant Capital Group LLC now owns 3,114 shares of the real estate investment trust’s stock worth $240,000 after buying an additional 2,604 shares during the period. Victory Capital Management Inc. lifted its holdings in WP Carey by 11.6% in the fourth quarter. Victory Capital Management Inc. now owns 105,723 shares of the real estate investment trust’s stock worth $8,462,000 after buying an additional 10,971 shares during the period. FMR LLC lifted its holdings in WP Carey by 8.3% in the fourth quarter. FMR LLC now owns 12,275 shares of the real estate investment trust’s stock worth $982,000 after buying an additional 941 shares during the period. Quantbot Technologies LP purchased a new stake in WP Carey in the fourth quarter worth about $79,000. Finally, Assetmark Inc. lifted its holdings in WP Carey by 48.3% in the fourth quarter. Assetmark Inc. now owns 3,982 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 1,296 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

WPC stock opened at $67.65 on Wednesday. The firm has a 50 day moving average price of $64.59 and a 200-day moving average price of $71.48. WP Carey Inc has a 52-week low of $38.62 and a 52-week high of $93.62. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 38.66 and a beta of 0.76. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.40 and a current ratio of 0.40.

WP Carey (NYSE:WPC) last released its earnings results on Friday, May 1st. The real estate investment trust reported $1.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.06. WP Carey had a net margin of 24.64% and a return on equity of 4.38%. The firm had revenue of $294.60 million during the quarter, compared to analyst estimates of $278.30 million. During the same period last year, the business earned $0.41 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that WP Carey Inc will post 4.73 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be given a dividend of $1.042 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.17 annualized dividend and a dividend yield of 6.16%. This is an increase from WP Carey’s previous quarterly dividend of $1.04. WP Carey’s dividend payout ratio (DPR) is 83.20%.

In other news, Director Mark A. Alexander purchased 4,000 shares of WP Carey stock in a transaction that occurred on Tuesday, May 19th. The stock was bought at an average price of $61.84 per share, with a total value of $247,360.00. Following the completion of the transaction, the director now directly owns 18,878 shares of the company’s stock, valued at $1,167,415.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.09% of the stock is owned by company insiders.

Several analysts have commented on the stock. Wells Fargo & Co raised their price objective on shares of WP Carey from $64.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Citigroup lowered their price objective on shares of WP Carey from $83.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Finally, Zacks Investment Research lowered shares of WP Carey from a “buy” rating to a “hold” rating in a report on Saturday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $74.25.

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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Institutional Ownership by Quarter for WP Carey (NYSE:WPC)

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