Dividend Assets Capital LLC maintained its position in shares of W.P. Carey Inc. (NYSE:WPC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,500 shares of the company’s stock at the end of the second quarter. Dividend Assets Capital LLC’s holdings in W.P. Carey were worth $312,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Checchi Capital Advisers LLC boosted 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. bought a new stake in W.P. Carey during the second quarter worth approximately $208,000. LVW Advisors LLC bought a new stake in W.P. Carey during the first quarter worth approximately $209,000. Bayesian Capital Management LP bought a new stake in W.P. Carey during the first quarter worth approximately $245,000. Finally, Concorde Asset Management LLC bought a new stake in W.P. Carey during the second quarter worth approximately $263,000. Institutional investors own 47.84% of the company’s stock.
Shares of W.P. Carey Inc. (NYSE:WPC) traded down 1.32% on Friday, hitting $64.53. The stock had a trading volume of 475,913 shares. The company has a market cap of $6.82 billion, a P/E ratio of 37.96 and a beta of 0.92. The company’s 50 day moving average price is $66.31 and its 200-day moving average price is $65.71. W.P. Carey Inc. has a 12 month low of $51.12 and a 12 month high of $72.89.
W.P. Carey (NYSE:WPC) last issued its earnings results on Thursday, August 4th. The company reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.65. The business earned $198.80 million during the quarter, compared to analyst estimates of $184.64 million. W.P. Carey had a return on equity of 5.13% and a net margin of 19.50%. W.P. Carey’s revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 EPS. On average, analysts expect that W.P. Carey Inc. will post $2.20 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.985 per share. The ex-dividend date is Thursday, September 29th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.98. This represents a $3.94 dividend on an annualized basis and a yield of 6.11%. W.P. Carey’s payout ratio is 230.59%.
WPC has been the topic of a number of recent research reports. BMO Capital Markets raised W.P. Carey from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $70.00 to $81.00 in a research note on Thursday, July 21st. They noted that the move was a valuation call. Wells Fargo & Co. reissued a “hold” rating on shares of W.P. Carey in a research note on Sunday, September 25th. Zacks Investment Research raised W.P. Carey from a “hold” rating to a “strong-buy” rating and set a $82.00 target price on the stock in a research note on Thursday, July 28th. Finally, Citigroup Inc. increased their target price on W.P. Carey from $54.00 to $59.00 and gave the stock a “sell” rating in a research note on Thursday, July 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average 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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