Brio Consultants LLC trimmed its stake in WP Carey Inc (NYSE:WPC) by 12.0% in the second quarter, Holdings Channel reports. The firm owned 3,180 shares of the real estate investment trust’s stock after selling 434 shares during the quarter. Brio Consultants LLC’s holdings in WP Carey were worth $258,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. TD Asset Management Inc. grew its stake in WP Carey by 3.6% in the first quarter. TD Asset Management Inc. now owns 3,994 shares of the real estate investment trust’s stock valued at $313,000 after purchasing an additional 137 shares in the last quarter. KC Investment Advisors LLC lifted its position in shares of WP Carey by 2.7% in the first quarter. KC Investment Advisors LLC now owns 5,355 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 140 shares during the last quarter. Baystate Wealth Management LLC lifted its position in shares of WP Carey by 22.5% in the first quarter. Baystate Wealth Management LLC now owns 785 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 144 shares during the last quarter. Brookstone Capital Management lifted its position in shares of WP Carey by 4.1% in the first quarter. Brookstone Capital Management now owns 4,055 shares of the real estate investment trust’s stock valued at $318,000 after buying an additional 158 shares during the last quarter. Finally, Sheets Smith Wealth Management lifted its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 53.88% of the company’s stock.
A number of research firms have recently issued reports on WPC. Evercore ISI cut Essex Property Trust from an “outperform” rating to an “in-line” rating in a research report on Monday, April 1st. Zacks Investment Research raised GCP Applied Technologies from a “sell” rating to a “hold” rating in a research report on Friday, May 31st. Citigroup began coverage on UBISOFT ENTMT S/ADR in a research report on Friday, June 7th. They issued a “buy” rating for the company. Finally, Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating on shares of Andeavor Logistics in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $74.45.
Shares of WPC traded up $0.15 during mid-day trading on Friday, reaching $85.12. The company’s stock had a trading volume of 16,627 shares, compared to its average volume of 730,579. WP Carey Inc has a 1-year low of $62.12 and a 1-year high of $86.41. The stock has a market cap of $14.53 billion, a PE ratio of 15.78, a P/E/G ratio of 5.93 and a beta of 0.47. The business’s 50-day moving average price is $84.10. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.86.
WP Carey (NYSE:WPC) last released its quarterly earnings data on Friday, May 3rd. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.01. WP Carey had a return on equity of 8.12% and a net margin of 44.84%. The company had revenue of $298.30 million during the quarter, compared to analysts’ expectations of $304.42 million. During the same period last year, the firm posted $0.72 earnings per share. The business’s revenue was up 47.8% on a year-over-year basis. As a group, research analysts predict that WP Carey Inc will post 4.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $1.034 per share. This is a boost from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.14 annualized dividend and a yield of 4.86%. The ex-dividend date was Thursday, June 27th. WP Carey’s dividend payout ratio (DPR) is presently 76.81%.
WP Carey Profile
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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