Advisors Capital Management LLC purchased a new stake in W.P. Carey Inc. (NYSE:WPC) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 200,542 shares of the real estate investment trust’s stock, valued at approximately $13,238,000. Advisors Capital Management LLC owned approximately 0.19% of W.P. Carey as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in WPC. Patriot Financial Group Insurance Agency LLC raised its position in W.P. Carey by 5.5% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 1,916 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 100 shares during the last quarter. WFG Advisors LP raised its stake in W.P. Carey by 159.3% in the first quarter. WFG Advisors LP now owns 2,344 shares of the real estate investment trust’s stock worth $146,000 after buying an additional 1,440 shares in the last quarter. Penserra Capital Management LLC raised its stake in W.P. Carey by 64.0% in the first quarter. Penserra Capital Management LLC now owns 2,608 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 1,018 shares in the last quarter. D. Scott Neal Inc. raised its stake in W.P. Carey by 12.3% in the second quarter. D. Scott Neal Inc. now owns 2,471 shares of the real estate investment trust’s stock worth $163,000 after buying an additional 271 shares in the last quarter. Finally, MUFG Americas Holdings Corp raised its stake in W.P. Carey by 473.8% in the first quarter. MUFG Americas Holdings Corp now owns 2,869 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 2,369 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.
W.P. Carey Inc. (WPC) opened at 65.87 on Friday. The firm’s 50-day moving average price is $67.29 and its 200 day moving average price is $64.32. W.P. Carey Inc. has a 1-year low of $55.77 and a 1-year high of $69.00. The stock has a market cap of $7.04 billion, a PE ratio of 25.36 and a beta of 0.88.
W.P. Carey (NYSE:WPC) last released its quarterly 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 company had revenue of $221.52 million during the quarter, compared to the consensus estimate of $221.19 million. During the same quarter last year, the firm posted $1.24 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. Equities research analysts expect that W.P. Carey Inc. will post $2.23 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were given a dividend of $1.00 per share. This is a positive change from W.P. Carey’s previous quarterly dividend of $1.00. The ex-dividend date was Wednesday, June 28th. This represents a $4.00 annualized dividend and a dividend yield of 6.07%. W.P. Carey’s dividend payout ratio is presently 154.44%.
WPC has been the subject of a number of research analyst reports. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of W.P. Carey in a report on Tuesday, May 23rd. ValuEngine downgraded shares of W.P. Carey from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Evercore ISI downgraded shares of W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 price target for the company. in a report on Monday, June 12th. Wells Fargo & Company reissued a “market perform” rating and set a $69.00 price target (up previously from $59.50) on shares of W.P. Carey in a report on Friday, June 16th. Finally, BidaskClub downgraded shares of W.P. Carey from a “strong-buy” rating to a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. W.P. Carey has a consensus 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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