Clinton Group Inc. Trims Position in W.P. Carey Inc. (WPC)
Clinton Group Inc. decreased its holdings in W.P. Carey Inc. (NYSE:WPC) by 49.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,097 shares of the real estate investment trust’s stock after selling 3,033 shares during the quarter. Clinton Group Inc.’s holdings in W.P. Carey were worth $204,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. HighTower Advisors LLC raised its position in W.P. Carey by 15.4% in the 2nd quarter. HighTower Advisors LLC now owns 52,939 shares of the real estate investment trust’s stock valued at $3,499,000 after purchasing an additional 7,059 shares during the last quarter. First Allied Advisory Services Inc. raised its position in W.P. Carey by 78.9% in the 2nd quarter. First Allied Advisory Services Inc. now owns 7,885 shares of the real estate investment trust’s stock valued at $522,000 after purchasing an additional 3,477 shares during the last quarter. QS Investors LLC raised its position in W.P. Carey by 3.3% in the 2nd quarter. QS Investors LLC now owns 13,483 shares of the real estate investment trust’s stock valued at $890,000 after purchasing an additional 431 shares during the last quarter. Stifel Financial Corp raised its position in W.P. Carey by 0.9% in the 2nd quarter. Stifel Financial Corp now owns 43,383 shares of the real estate investment trust’s stock valued at $2,857,000 after purchasing an additional 373 shares during the last quarter. Finally, Legg Mason Asset Management Japan Co. Ltd. purchased a new stake in W.P. Carey in the 2nd quarter valued at $172,000. Hedge funds and other institutional investors own 48.76% of the company’s stock.
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Several analysts recently commented on WPC shares. BidaskClub downgraded shares of W.P. Carey from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. ValuEngine upgraded shares of W.P. Carey from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of W.P. Carey in a research report on Friday, June 16th. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $69.00 price target (up previously from $59.50) on shares of W.P. Carey in a research report on Friday, June 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $67.67.
W.P. Carey Inc. (NYSE:WPC) opened at 68.60 on Wednesday. W.P. Carey Inc. has a 52 week low of $55.77 and a 52 week high of $70.38. The firm has a 50-day moving average of $68.57 and a 200 day moving average of $66.17. The firm has a market capitalization of $7.29 billion, a PE ratio of 27.55 and a beta of 0.86.
W.P. Carey (NYSE:WPC) last posted its earnings results on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share (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 business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 earnings per share. Analysts predict that W.P. Carey Inc. will post $2.23 earnings per share 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 paid a $1.005 dividend. This represents a $4.02 dividend on an annualized basis and a yield of 5.86%. This is a boost from W.P. Carey’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, September 29th. W.P. Carey’s dividend payout ratio (DPR) is presently 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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