Presima Inc. Trims Stake in WP Carey Inc (WPC)

Presima Inc. lessened its holdings in shares of WP Carey Inc (NYSE:WPC) by 33.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,600 shares of the real estate investment trust’s stock after selling 10,900 shares during the period. WP Carey makes up 0.2% of Presima Inc.’s holdings, making the stock its 26th biggest position. Presima Inc.’s holdings in WP Carey were worth $1,692,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Valley National Advisers Inc. purchased a new stake in WP Carey during the 4th quarter worth approximately $25,000. Karp Capital Management Corp purchased a new stake in shares of WP Carey in the 4th quarter valued at approximately $26,000. Sage Capital Advisors llc purchased a new stake in shares of WP Carey in the 4th quarter valued at approximately $26,000. Proficio Capital Partners LLC increased its position in shares of WP Carey by 40.5% in the 4th quarter. Proficio Capital Partners LLC now owns 486 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. increased its position in shares of WP Carey by 53.3% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 512 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 178 shares during the last quarter. 50.26% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of WP Carey from a “hold” rating to a “sell” rating in a report on Saturday, April 27th. Evercore ISI cut shares of WP Carey from an “in-line” rating to an “underperform” rating in a research note on Monday, April 1st. They noted that the move was a valuation call. Mitsubishi UFJ Financial Group began coverage on shares of WP Carey in a research note on Tuesday, March 26th. They issued a “neutral” rating and a $78.00 target price for the company. Capital One Financial restated an “equal weight” rating on shares of WP Carey in a research note on Tuesday, March 5th. Finally, ValuEngine upgraded shares of WP Carey from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.05.

WP Carey stock opened at $78.01 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.44 and a current ratio of 0.44. WP Carey Inc has a 12-month low of $62.12 and a 12-month high of $79.86. The stock has a market cap of $13.19 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 3.98 and a beta of 0.60.

WP Carey (NYSE:WPC) last released its earnings results on Friday, May 3rd. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.01. The business had revenue of $298.30 million for the quarter, compared to analysts’ expectations of $304.42 million. WP Carey had a net margin of 44.84% and a return on equity of 9.28%. The company’s quarterly revenue was up 47.8% on a year-over-year basis. During the same period last year, the company earned $0.72 earnings per share. As a group, equities research analysts expect that WP Carey Inc will post 4.97 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $1.032 per share. This represents a $4.13 dividend on an annualized basis and a yield of 5.29%. This is a boost from WP Carey’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Thursday, March 28th. WP Carey’s payout ratio is 76.62%.

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About WP Carey

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.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

Institutional Ownership by Quarter for WP Carey (NYSE:WPC)

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