Thrivent Financial For Lutherans Has $1.41 Million Position in W.P. Carey Inc. (WPC)
Thrivent Financial For Lutherans boosted its position in W.P. Carey Inc. (NYSE:WPC) by 31.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,300 shares of the real estate investment trust’s stock after buying an additional 5,100 shares during the period. Thrivent Financial For Lutherans’ holdings in W.P. Carey were worth $1,406,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ffcm LLC boosted its position 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 acquiring an additional 1,092 shares during the last quarter. Bruderman Asset Management LLC acquired a new stake in W.P. Carey during the 2nd quarter worth about $115,000. QCI Asset Management Inc. NY grew its holdings in W.P. Carey by 148.7% during the 2nd 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 stake in W.P. Carey during the 2nd quarter worth about $128,000. Finally, D. Scott Neal Inc. grew its holdings in W.P. Carey by 12.3% during the 2nd 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. Institutional investors and hedge funds own 48.76% of the company’s stock.
Several research firms have recently weighed in on WPC. BidaskClub lowered W.P. Carey from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. ValuEngine raised W.P. Carey from a “hold” rating to a “buy” rating in a research note on Monday. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of W.P. Carey in a research report on Friday, September 1st. Wells Fargo & Company restated a “market perform” rating and set a $69.00 target price (up previously from $59.50) on shares of W.P. Carey in a research report on Friday, June 16th. Finally, Evercore ISI cut W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 target price for the company. in a research note on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $67.75.
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W.P. Carey Inc. (WPC) opened at 68.01 on Wednesday. The company’s 50 day moving average is $68.42 and its 200-day moving average is $65.93. W.P. Carey Inc. has a 52-week low of $55.77 and a 52-week high of $70.38. The firm has a market cap of $7.27 billion, a P/E ratio of 26.19 and a beta of 0.86.
W.P. Carey (NYSE:WPC) last announced its earnings results 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). W.P. Carey had a net margin of 34.97% and a return on equity of 8.10%. The business had revenue of $221.52 million for the quarter, compared to the consensus estimate of $221.19 million. During the same quarter in the prior year, the company earned $1.24 EPS. W.P. Carey’s revenue was up 1.1% compared to the same quarter last year. On average, equities analysts predict that W.P. Carey Inc. will post $2.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a $1.005 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $4.02 annualized dividend and a yield of 5.91%. This is a boost from W.P. Carey’s previous quarterly dividend of $1.00. W.P. Carey’s payout ratio is 155.21%.
W.P. Carey Profile
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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