W.P. Carey Inc. (WPC) Shares Sold by Riverhead Capital Management LLC
Riverhead Capital Management LLC decreased its position in W.P. Carey Inc. (NYSE:WPC) by 54.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,290 shares of the real estate investment trust’s stock after selling 2,735 shares during the quarter. Riverhead Capital Management LLC’s holdings in W.P. Carey were worth $151,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in WPC. Ffcm LLC boosted its stake in W.P. Carey by 179.3% during the second quarter. Ffcm LLC now owns 1,701 shares of the real estate investment trust’s stock valued at $115,000 after buying an additional 1,092 shares in the last quarter. QCI Asset Management Inc. NY grew its holdings in W.P. Carey by 148.7% during the second quarter. QCI Asset Management Inc. NY now owns 1,803 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 1,078 shares during the period. Schroder Investment Management Group acquired a new position in W.P. Carey during the second quarter worth about $128,000. D. Scott Neal Inc. grew its holdings in W.P. Carey by 12.3% during the second quarter. D. Scott Neal Inc. now owns 2,471 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 271 shares during the period. Finally, Penserra Capital Management LLC grew its holdings in W.P. Carey by 6.6% during the second quarter. Penserra Capital Management LLC now owns 2,779 shares of the real estate investment trust’s stock worth $183,000 after acquiring an additional 171 shares during the period. Institutional investors and hedge funds own 48.76% of the company’s stock.
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Shares of W.P. Carey Inc. (WPC) opened at 67.77 on Tuesday. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 26.10 and a beta of 0.86. The stock’s 50 day moving average price is $68.38 and its 200 day moving average price is $65.89. W.P. Carey Inc. has a 1-year low of $55.77 and a 1-year high of $70.38.
W.P. Carey (NYSE:WPC) last released its quarterly earnings data on Friday, August 4th. The real estate investment trust reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.56). The company had revenue of $221.52 million during the quarter, compared to the consensus estimate of $221.19 million. W.P. Carey had a net margin of 34.97% and a return on equity of 8.10%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.24 EPS. Analysts expect that W.P. Carey Inc. will post $2.23 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Monday, October 2nd will be issued a dividend of $1.005 per share. The ex-dividend date of this dividend is Friday, September 29th. This represents a $4.02 dividend on an annualized basis and a yield of 5.93%. This is a boost from W.P. Carey’s previous quarterly dividend of $1.00. W.P. Carey’s dividend payout ratio (DPR) is 155.21%.
Several brokerages have commented on WPC. BidaskClub upgraded shares of W.P. Carey from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 19th. Evercore ISI lowered shares of W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 price objective for the company. in a research report on Monday, June 12th. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of W.P. Carey in a research report on Friday, September 1st. ValuEngine raised shares of W.P. Carey from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $69.00 price objective (up previously from $59.50) on shares of W.P. Carey in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $67.75.
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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