Private Vista LLC trimmed its holdings in shares of WP Carey Inc (NYSE:WPC) by 8.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,100 shares of the real estate investment trust’s stock after selling 1,308 shares during the period. Private Vista LLC’s holdings in WP Carey were worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. TD Asset Management Inc. lifted its holdings in shares of WP Carey by 3.6% in the 1st quarter. TD Asset Management Inc. now owns 3,994 shares of the real estate investment trust’s stock valued at $313,000 after purchasing an additional 137 shares during the last quarter. KC Investment Advisors LLC increased its position in WP Carey by 2.7% in the 1st quarter. KC Investment Advisors LLC now owns 5,355 shares of the real estate investment trust’s stock valued at $419,000 after acquiring an additional 140 shares during the period. Baystate Wealth Management LLC increased its position in WP Carey by 22.5% in the 1st quarter. Baystate Wealth Management LLC now owns 785 shares of the real estate investment trust’s stock valued at $61,000 after acquiring an additional 144 shares during the period. Brookstone Capital Management increased its position in WP Carey by 4.1% in the 1st quarter. Brookstone Capital Management now owns 4,055 shares of the real estate investment trust’s stock valued at $318,000 after acquiring an additional 158 shares during the period. Finally, Sheets Smith Wealth Management increased its position in WP Carey by 0.3% in the 2nd quarter. Sheets Smith Wealth Management now owns 64,182 shares of the real estate investment trust’s stock valued at $5,210,000 after acquiring an additional 181 shares during the period. 53.81% of the stock is owned by institutional investors.
Several brokerages recently issued reports on WPC. Citigroup upgraded WP Carey from a “sell” rating to a “neutral” rating and boosted their price target for the company from $59.00 to $81.00 in a research report on Friday, June 7th. Zacks Investment Research upgraded WP Carey from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Finally, Mitsubishi UFJ Financial Group dropped their price target on WP Carey to $77.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $74.45.
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. WP Carey had a return on equity of 8.12% and a net margin of 44.84%. The company had revenue of $298.30 million for the quarter, compared to analysts’ expectations of $304.42 million. During the same quarter in the previous year, the firm posted $0.72 EPS. The firm’s quarterly revenue was up 47.8% on a year-over-year basis. As a group, equities analysts expect that WP Carey Inc will post 4.91 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $1.034 per share. This is a boost from WP Carey’s previous quarterly dividend of $1.03. The ex-dividend date was Thursday, June 27th. This represents a $4.14 annualized dividend and a yield of 4.74%. WP Carey’s payout ratio is presently 76.81%.
WP Carey Company 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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