W.P. Carey Inc. (WPC) Shares Bought by New York State Common Retirement Fund
New York State Common Retirement Fund grew its position in W.P. Carey Inc. (NYSE:WPC) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,400 shares of the real estate investment trust’s stock after buying an additional 6,999 shares during the quarter. New York State Common Retirement Fund owned 0.22% of W.P. Carey worth $15,275,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Ffcm LLC raised its stake in shares of W.P. Carey by 179.3% during the 2nd quarter. Ffcm LLC now owns 1,701 shares of the real estate investment trust’s stock worth $115,000 after buying an additional 1,092 shares during the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of W.P. Carey in the 2nd quarter worth about $115,000. QCI Asset Management Inc. NY grew its stake in W.P. Carey by 148.7% in the 2nd quarter. QCI Asset Management Inc. NY now owns 1,803 shares of the real estate investment trust’s stock valued at $119,000 after acquiring an additional 1,078 shares during the last quarter. Schroder Investment Management Group acquired a new stake in W.P. Carey in the 2nd quarter valued at about $128,000. Finally, D. Scott Neal Inc. grew its stake in W.P. Carey by 12.3% in the 2nd quarter. D. Scott Neal Inc. now owns 2,471 shares of the real estate investment trust’s stock valued at $163,000 after acquiring an additional 271 shares during the last quarter. Institutional investors and hedge funds own 48.76% of the company’s stock.
Shares of W.P. Carey Inc. (NYSE:WPC) opened at 68.01 on Wednesday. The stock has a 50 day moving average price of $68.42 and a 200 day moving average price of $65.93. W.P. Carey Inc. has a 12 month low of $55.77 and a 12 month high of $70.38. The stock has a market capitalization of $7.27 billion, a P/E ratio of 26.19 and a beta of 0.86.
W.P. Carey (NYSE:WPC) last posted its quarterly 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). 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 period in the prior year, the company posted $1.24 EPS. W.P. Carey’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts anticipate that W.P. Carey Inc. will post $2.23 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a dividend of $1.005 per share. The ex-dividend date is Friday, September 29th. This is a positive change from W.P. Carey’s previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a dividend yield of 5.91%. W.P. Carey’s dividend payout ratio (DPR) is currently 155.21%.
Several research firms have weighed in on WPC. BidaskClub upgraded shares of W.P. Carey from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 19th. ValuEngine upgraded shares of W.P. Carey from a “hold” rating to a “buy” rating in a research report on Monday. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of W.P. Carey in a report on Friday, June 16th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $69.00 price target (up previously from $59.50) on shares of W.P. Carey in a report on Friday, June 16th. Finally, Evercore ISI lowered shares of W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 price target on the stock. in a research report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. W.P. Carey presently has a consensus rating of “Hold” and an average price target of $67.75.
W.P. Carey Company 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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