Paloma Partners Management Co increased its stake in shares of WP Carey Inc (NYSE:WPC) by 360.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,528 shares of the real estate investment trust’s stock after purchasing an additional 20,761 shares during the quarter. Paloma Partners Management Co’s holdings in WP Carey were worth $1,760,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its holdings in shares of WP Carey by 3.4% during the second quarter. Sterling Capital Management LLC now owns 39,469 shares of the real estate investment trust’s stock worth $2,619,000 after purchasing an additional 1,300 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of WP Carey by 313.0% during the second quarter. Cubist Systematic Strategies LLC now owns 16,201 shares of the real estate investment trust’s stock worth $1,075,000 after purchasing an additional 12,278 shares during the period. Voya Investment Management LLC boosted its holdings in shares of WP Carey by 18.1% during the second quarter. Voya Investment Management LLC now owns 34,989 shares of the real estate investment trust’s stock worth $2,322,000 after purchasing an additional 5,372 shares during the period. First Republic Investment Management Inc. acquired a new stake in shares of WP Carey during the second quarter worth approximately $1,771,000. Finally, Raymond James & Associates boosted its holdings in shares of WP Carey by 1.3% during the second quarter. Raymond James & Associates now owns 106,476 shares of the real estate investment trust’s stock worth $7,065,000 after purchasing an additional 1,365 shares during the period. Institutional investors and hedge funds own 48.84% of the company’s stock.
WPC has been the subject of several research reports. Zacks Investment Research upgraded shares of WP Carey from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Saturday, July 7th. Wells Fargo & Co raised their price objective on shares of WP Carey from $65.00 to $69.00 and gave the company a “market perform” rating in a research report on Thursday, June 14th. ValuEngine lowered shares of WP Carey from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Finally, Bank of America raised their price objective on shares of WP Carey from $59.00 to $66.25 and gave the company an “underperform” rating in a research report on Monday, August 13th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $71.81.
WP Carey (NYSE:WPC) last released its quarterly earnings results on Friday, August 3rd. The real estate investment trust reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $1.20 by ($0.50). WP Carey had a net margin of 38.18% and a return on equity of 8.51%. The firm had revenue of $201.14 million during the quarter, compared to the consensus estimate of $213.21 million. During the same period in the prior year, the business earned $1.38 EPS. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. Analysts predict that WP Carey Inc will post 5.26 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, October 1st will be given a $1.025 dividend. This is a positive change from WP Carey’s previous quarterly dividend of $1.02. The ex-dividend date is Friday, September 28th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 6.40%. WP Carey’s dividend payout ratio (DPR) is currently 77.36%.
About WP Carey
W.P. Carey, Inc is a real estate investment trust. It operates through two segment: Real Estate Ownership and Investment Management. The Real Estate Ownership segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for the real estate investment trusts, and manages portfolios of real estate investments.
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