Whittier Trust Co. lowered its position in shares of W.P. Carey Inc. (NYSE:WPC) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,200 shares of the company’s stock after selling 100 shares during the period. Whittier Trust Co.’s holdings in W.P. Carey were worth $153,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp boosted its position in W.P. Carey by 2.6% in the first quarter. State Street Corp now owns 1,611,987 shares of the company’s stock worth $100,330,000 after buying an additional 41,380 shares during the last quarter. Geode Capital Management LLC boosted its stake in W.P. Carey by 3.9% in the first quarter. Geode Capital Management LLC now owns 616,225 shares of the company’s stock worth $38,353,000 after buying an additional 23,348 shares in the last quarter. BlackRock Group LTD boosted its stake in W.P. Carey by 0.9% in the first quarter. BlackRock Group LTD now owns 604,266 shares of the company’s stock worth $37,610,000 after buying an additional 5,335 shares in the last quarter. Royal Bank of Canada boosted its stake in W.P. Carey by 20.2% in the first quarter. Royal Bank of Canada now owns 577,132 shares of the company’s stock worth $35,921,000 after buying an additional 96,985 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in W.P. Carey by 430.0% in the second quarter. American Century Companies Inc. now owns 425,470 shares of the company’s stock worth $29,536,000 after buying an additional 345,189 shares in the last quarter. Institutional investors own 47.84% of the company’s stock.
W.P. Carey Inc. (NYSE:WPC) traded down 1.04% during trading on Friday, reaching $61.80. 275,644 shares of the company were exchanged. The stock has a 50 day moving average price of $64.86 and a 200 day moving average price of $65.74. W.P. Carey Inc. has a 12 month low of $51.12 and a 12 month high of $72.89. The firm has a market capitalization of $6.53 billion, a PE ratio of 36.35 and a beta of 0.87.
W.P. Carey (NYSE:WPC) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.65. The business earned $198.80 million during 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 company’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 earnings per share. On average, analysts expect that W.P. Carey Inc. will post $2.20 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Monday, October 3rd were issued a dividend of $0.985 per share. The ex-dividend date was Thursday, September 29th. This is an increase from W.P. Carey’s previous quarterly dividend of $0.98. This represents a $3.94 dividend on an annualized basis and a dividend yield of 6.38%. W.P. Carey’s payout ratio is 231.76%.
WPC has been the subject of a number of research reports. BMO Capital Markets reissued a “hold” rating on shares of W.P. Carey in a research note on Thursday, June 23rd. Citigroup Inc. boosted their target price on shares of W.P. Carey from $54.00 to $59.00 and gave the stock a “sell” rating in a research note on Thursday, July 7th. Zacks Investment Research cut shares of W.P. Carey from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of W.P. Carey in a research note on Sunday, September 25th. Two research analysts have rated the stock with a sell rating, four have assigned 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 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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