Mercer Global Advisors Inc. ADV purchased a new position in WP Carey Inc (NYSE:WPC) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,503 shares of the real estate investment trust’s stock, valued at approximately $360,000.
A number of other institutional investors have also bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of WP Carey by 74.7% during the 3rd quarter. Franklin Resources Inc. now owns 8,726 shares of the real estate investment trust’s stock valued at $561,000 after acquiring an additional 3,732 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of WP Carey by 22.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 594,962 shares of the real estate investment trust’s stock valued at $38,262,000 after acquiring an additional 110,363 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of WP Carey during the 3rd quarter valued at about $203,000. Advisors Asset Management Inc. increased its holdings in shares of WP Carey by 18.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 14,590 shares of the real estate investment trust’s stock valued at $938,000 after acquiring an additional 2,276 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of WP Carey by 20.3% during the 3rd quarter. Macquarie Group Ltd. now owns 39,700 shares of the real estate investment trust’s stock valued at $2,553,000 after acquiring an additional 6,700 shares during the last quarter. 49.98% of the stock is owned by institutional investors and hedge funds.
WPC has been the subject of several recent analyst reports. Zacks Investment Research downgraded WP Carey from a “hold” rating to a “sell” rating in a research note on Tuesday, December 25th. ValuEngine downgraded WP Carey from a “buy” rating to a “hold” rating in a research note on Friday, December 28th. Finally, Capital One Financial restated an “equal weight” rating on shares of WP Carey in a research note on Tuesday, March 5th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. WP Carey has a consensus rating of “Hold” and an average price target of $72.25.
WP Carey (NYSE:WPC) last announced its earnings results on Friday, February 22nd. The real estate investment trust reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.03. WP Carey had a return on equity of 9.81% and a net margin of 49.68%. The firm had revenue of $273.40 million during the quarter, compared to the consensus estimate of $283.87 million. During the same quarter in the prior year, the company earned $1.18 EPS. The firm’s revenue for the quarter was up 39.0% compared to the same quarter last year. On average, equities research analysts forecast that WP Carey Inc will post 4.97 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 29th were paid a dividend of $1.032 per share. This is an increase from WP Carey’s previous quarterly dividend of $1.03. The ex-dividend date was Thursday, March 28th. This represents a $4.13 annualized dividend and a yield of 5.38%. WP Carey’s dividend payout ratio is presently 76.62%.
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WP Carey Profile
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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