Brookstone Capital Management raised its stake in WP Carey Inc (NYSE:WPC) by 26.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,850 shares of the real estate investment trust’s stock after buying an additional 812 shares during the quarter. Brookstone Capital Management’s holdings in WP Carey were worth $345,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Shields & Co. LLC lifted its stake in WP Carey by 0.6% in the second quarter. Wellington Shields & Co. LLC now owns 18,915 shares of the real estate investment trust’s stock valued at $1,536,000 after buying an additional 120 shares in the last quarter. Sheets Smith Wealth Management lifted its stake in WP Carey by 0.3% in the second quarter. Sheets Smith Wealth Management now owns 64,182 shares of the real estate investment trust’s stock valued at $5,210,000 after buying an additional 181 shares in the last quarter. NewFocus Financial Group LLC lifted its stake in WP Carey by 0.5% in the second quarter. NewFocus Financial Group LLC now owns 37,112 shares of the real estate investment trust’s stock valued at $3,013,000 after buying an additional 186 shares in the last quarter. Private Trust Co. NA lifted its stake in WP Carey by 2.1% in the second quarter. Private Trust Co. NA now owns 9,717 shares of the real estate investment trust’s stock valued at $788,000 after buying an additional 200 shares in the last quarter. Finally, Comerica Bank lifted its stake in WP Carey by 1.4% in the second quarter. Comerica Bank now owns 14,859 shares of the real estate investment trust’s stock valued at $1,260,000 after buying an additional 202 shares in the last quarter. 56.21% of the stock is currently owned by hedge funds and other institutional investors.
Shares of WPC stock opened at $93.10 on Tuesday. The company’s fifty day simple moving average is $90.15 and its 200-day simple moving average is $84.80. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.87. The firm has a market cap of $15.90 billion, a PE ratio of 17.27, a P/E/G ratio of 6.91 and a beta of 0.44. WP Carey Inc has a 12 month low of $63.20 and a 12 month high of $93.56.
WP Carey (NYSE:WPC) last announced its quarterly earnings data on Friday, August 2nd. The real estate investment trust reported $0.38 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.85). The business had revenue of $305.21 million during the quarter, compared to the consensus estimate of $303.23 million. WP Carey had a return on equity of 6.72% and a net margin of 38.36%. During the same period in the prior year, the firm earned $0.60 EPS. On average, equities analysts predict that WP Carey Inc will post 4.87 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $1.036 dividend. This represents a $4.14 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Friday, September 27th. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. WP Carey’s payout ratio is currently 76.81%.
A number of research analysts have weighed in on the stock. Zacks Investment Research reaffirmed a “hold” rating on shares of WP Carey in a research note on Saturday, October 12th. ValuEngine lowered shares of WP Carey from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $77.00.
About WP Carey
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $17 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,163 net lease properties covering approximately 131 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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