Wilbanks Smith & Thomas Asset Management LLC maintained its stake in W.P. Carey Inc. (NYSE:WPC) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,330 shares of the real estate investment trust’s stock at the end of the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in W.P. Carey were worth $220,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. DF Dent & Co. Inc. grew its holdings in W.P. Carey by 0.4% during the 2nd quarter. DF Dent & Co. Inc. now owns 5,779 shares of the real estate investment trust’s stock valued at $381,000 after buying an additional 21 shares in the last quarter. Laurel Wealth Advisors Inc. purchased a new stake in W.P. Carey during the 2nd quarter valued at approximately $343,000. Coldstream Capital Management Inc. grew its holdings in W.P. Carey by 131.7% during the 2nd quarter. Coldstream Capital Management Inc. now owns 16,566 shares of the real estate investment trust’s stock valued at $1,094,000 after buying an additional 9,415 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in W.P. Carey by 1.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 5,052 shares of the real estate investment trust’s stock valued at $333,000 after buying an additional 87 shares in the last quarter. Finally, Carret Asset Management LLC purchased a new stake in W.P. Carey during the 2nd quarter valued at approximately $205,000. 48.76% of the stock is owned by institutional investors and hedge funds.
W.P. Carey Inc. (WPC) traded up 0.247% on Friday, hitting $69.411. 27,917 shares of the company were exchanged. The stock’s 50-day moving average price is $68.66 and its 200-day moving average price is $66.21. The stock has a market capitalization of $7.38 billion, a P/E ratio of 27.876 and a beta of 0.86. W.P. Carey Inc. has a 52-week low of $55.77 and a 52-week high of $70.38.
W.P. Carey (NYSE:WPC) last issued its earnings results on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.56). The company had revenue of $221.52 million during the quarter, compared to analysts’ expectations of $221.19 million. W.P. Carey had a net margin of 34.97% and a return on equity of 8.10%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.24 earnings per share. On average, equities research analysts anticipate that W.P. Carey Inc. will post $2.23 earnings per share for the current fiscal 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 $1.005 dividend. This is a boost from W.P. Carey’s previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend is Friday, September 29th. W.P. Carey’s dividend payout ratio is presently 155.21%.
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A number of research analysts recently weighed in on the stock. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of W.P. Carey in a report on Friday, June 16th. Wells Fargo & Company reissued a “market perform” rating and issued a $69.00 target price (up from $59.50) on shares of W.P. Carey in a report on Friday, June 16th. ValuEngine raised shares of W.P. Carey from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, BidaskClub lowered shares of W.P. Carey from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $67.67.
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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