Garrison Financial Corp cut its stake in W.P. Carey Inc. (NYSE:WPC) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 4,120 shares of the company’s stock after selling 35 shares during the period. Garrison Financial Corp’s holdings in W.P. Carey were worth $286,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Virginia Retirement System purchased a new position in shares of W.P. Carey during the first quarter valued at about $1,232,000. CIBC World Markets Inc. boosted its position in shares of W.P. Carey by 33.9% in the first quarter. CIBC World Markets Inc. now owns 4,994 shares of the company’s stock valued at $311,000 after buying an additional 1,264 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of W.P. Carey during the first quarter valued at about $829,000. TIAA CREF Investment Management LLC boosted its position in shares of W.P. Carey by 1.9% in the first quarter. TIAA CREF Investment Management LLC now owns 176,940 shares of the company’s stock valued at $11,013,000 after buying an additional 3,230 shares during the period. Finally, Allegis Investment Advisors LLC boosted its position in shares of W.P. Carey by 66.6% in the first quarter. Allegis Investment Advisors LLC now owns 10,070 shares of the company’s stock valued at $627,000 after buying an additional 4,027 shares during the period. 47.84% of the stock is owned by institutional investors and hedge funds.
W.P. Carey Inc. (NYSE:WPC) traded down 1.32% on Friday, hitting $64.53. 475,913 shares of the stock traded hands. W.P. Carey Inc. has a 12 month low of $51.12 and a 12 month high of $72.89. The firm has a 50-day moving average price of $66.42 and a 200-day moving average price of $65.67. The company has a market capitalization of $6.82 billion, a PE ratio of 37.96 and a beta of 0.92.
W.P. Carey (NYSE:WPC) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.65. The company had revenue of $198.80 million for the quarter, compared to the consensus estimate of $184.64 million. W.P. Carey had a net margin of 19.50% and a return on equity of 5.13%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.31 EPS. Analysts forecast that W.P. Carey Inc. will post $2.20 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Monday, October 3rd will be paid a $0.985 dividend. This represents a $3.94 annualized dividend and a yield of 6.11%. The ex-dividend date is Thursday, September 29th. This is an increase from W.P. Carey’s previous quarterly dividend of $0.98. W.P. Carey’s dividend payout ratio (DPR) is currently 230.59%.
WPC has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed a “hold” rating on shares of W.P. Carey in a report on Thursday, June 23rd. Citigroup Inc. lifted their target price on shares of W.P. Carey from $54.00 to $59.00 and gave the stock a “sell” rating in a report on Thursday, July 7th. Zacks Investment Research cut shares of W.P. Carey from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, Wells Fargo & Co. reaffirmed a “hold” rating on shares of W.P. Carey in a report on Sunday, September 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. W.P. Carey 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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