WP Carey Inc (WPC) Holdings Increased by Rock Point Advisors LLC
Rock Point Advisors LLC raised its position in shares of WP Carey Inc (NYSE:WPC) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,714 shares of the real estate investment trust’s stock after purchasing an additional 1,408 shares during the quarter. WP Carey accounts for 3.5% of Rock Point Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. Rock Point Advisors LLC’s holdings in WP Carey were worth $7,892,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Millennium Management LLC acquired a new stake in shares of WP Carey during the first quarter worth about $4,530,000. Principal Financial Group Inc. raised its position in WP Carey by 8.9% during the first quarter. Principal Financial Group Inc. now owns 17,924 shares of the real estate investment trust’s stock valued at $1,111,000 after acquiring an additional 1,460 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in WP Carey by 30.0% during the second quarter. Xact Kapitalforvaltning AB now owns 9,523 shares of the real estate investment trust’s stock valued at $632,000 after acquiring an additional 2,200 shares in the last quarter. Bank of Montreal Can purchased a new position in WP Carey during the second quarter valued at approximately $2,904,000. Finally, Legacy Financial Advisors Inc. purchased a new position in WP Carey during the second quarter valued at approximately $954,000. 48.54% of the stock is currently owned by institutional investors.
Several research analysts recently weighed in on the company. Zacks Investment Research cut WP Carey from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. ValuEngine cut WP Carey from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Finally, Bank of America lifted their price target on WP Carey from $59.00 to $66.25 and gave the company an “underperform” rating in a research report on Monday, August 13th. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. WP Carey has an average rating of “Hold” and an average target price of $70.08.
Shares of WPC stock opened at $66.22 on Tuesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.18 and a quick ratio of 0.18. The company has a market cap of $10.40 billion, a P/E ratio of 12.49 and a beta of 0.55. WP Carey Inc has a twelve month low of $59.23 and a twelve month high of $72.41.
WP Carey (NYSE:WPC) last posted its quarterly earnings data on Friday, November 2nd. The real estate investment trust reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.08. The business had revenue of $209.40 million during the quarter, compared to analysts’ expectations of $215.47 million. WP Carey had a return on equity of 8.78% and a net margin of 39.03%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. As a group, equities analysts predict that WP Carey Inc will post 5.26 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were given a $1.025 dividend. The ex-dividend date of this dividend was Friday, September 28th. This is a boost from WP Carey’s previous quarterly dividend of $1.02. This represents a $4.10 dividend on an annualized basis and a dividend yield of 6.19%. WP Carey’s payout ratio is 77.36%.
WP Carey Company Profile
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of over $11 billion and a portfolio of operationally-critical commercial real estate totaling 878 properties covering approximately 87 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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