State of Alaska Department of Revenue boosted its holdings in shares of WP Carey Inc (NYSE:WPC) by 53.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,208 shares of the real estate investment trust’s stock after acquiring an additional 24,085 shares during the period. State of Alaska Department of Revenue’s holdings in WP Carey were worth $4,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of the business. Strategic Wealth Partners Ltd. grew its holdings in WP Carey by 53.3% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 512 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 178 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of WP Carey by 0.4% during the third quarter. Teachers Advisors LLC now owns 127,745 shares of the real estate investment trust’s stock valued at $8,215,000 after buying an additional 510 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of WP Carey by 0.6% during the third quarter. State Board of Administration of Florida Retirement System now owns 144,963 shares of the real estate investment trust’s stock valued at $9,323,000 after buying an additional 802 shares during the last quarter. Advisors Asset Management Inc. lifted its position in shares of WP Carey by 8.0% during the second quarter. Advisors Asset Management Inc. now owns 12,314 shares of the real estate investment trust’s stock valued at $817,000 after buying an additional 915 shares during the last quarter. Finally, First Manhattan Co. lifted its position in shares of WP Carey by 9.0% during the third quarter. First Manhattan Co. now owns 12,150 shares of the real estate investment trust’s stock valued at $781,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 32.33% of the company’s stock.
Several analysts have commented on WPC shares. ValuEngine raised shares of WP Carey from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. Zacks Investment Research raised shares of WP Carey from a “sell” rating to a “hold” rating in a research report on Sunday, January 6th. Finally, JPMorgan Chase & Co. started coverage on shares of WP Carey in a research report on Wednesday, December 19th. They set a “neutral” rating and a $73.00 price target for the company. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $70.81.
WPC stock opened at $68.82 on Monday. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of 12.98 and a beta of 0.54. WP Carey Inc has a one year low of $59.23 and a one year high of $71.29. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.21.
WP Carey (NYSE:WPC) last released its quarterly earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.08. The business had revenue of $209.40 million during the quarter, compared to analyst estimates of $215.47 million. WP Carey had a net margin of 39.03% and a return on equity of 8.78%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 earnings per share. Analysts predict that WP Carey Inc will post 5.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be given a $1.03 dividend. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.12 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Friday, December 28th. WP Carey’s dividend payout ratio (DPR) is presently 77.74%.
In related news, Director Jean Hoysradt acquired 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The stock was purchased at an average cost of $64.73 per share, with a total value of $148,879.00. Following the transaction, the director now directly owns 9,255 shares of the company’s stock, valued at approximately $599,076.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher Niehaus acquired 3,850 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was bought at an average cost of $66.08 per share, with a total value of $254,408.00. The disclosure for this purchase can be found here. Company insiders own 1.56% of the company’s stock.
About WP Carey
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.
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