HM Payson & Co. Sells 1,732 Shares of W.P. Carey Inc. (WPC)
HM Payson & Co. lessened its stake in W.P. Carey Inc. (NYSE:WPC) by 35.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,180 shares of the real estate investment trust’s stock after selling 1,732 shares during the period. HM Payson & Co.’s holdings in W.P. Carey were worth $214,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in W.P. Carey by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 755,971 shares of the real estate investment trust’s stock valued at $49,902,000 after purchasing an additional 22,204 shares during the period. Kempen Capital Management N.V. grew its holdings in shares of W.P. Carey by 33.7% during the 2nd quarter. Kempen Capital Management N.V. now owns 41,668 shares of the real estate investment trust’s stock worth $2,751,000 after acquiring an additional 10,514 shares during the period. Pring Turner Capital Group Inc. grew its holdings in shares of W.P. Carey by 7.7% during the 2nd quarter. Pring Turner Capital Group Inc. now owns 36,355 shares of the real estate investment trust’s stock worth $2,400,000 after acquiring an additional 2,585 shares during the period. First Trust Advisors LP grew its holdings in shares of W.P. Carey by 14.7% during the 2nd quarter. First Trust Advisors LP now owns 78,294 shares of the real estate investment trust’s stock worth $5,168,000 after acquiring an additional 10,030 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of W.P. Carey by 12.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 70,918 shares of the real estate investment trust’s stock worth $4,681,000 after acquiring an additional 8,036 shares during the period. 48.49% of the stock is owned by institutional investors.
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WPC has been the topic of a number of research analyst reports. BidaskClub downgraded W.P. Carey from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 10th. ValuEngine raised W.P. Carey from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of W.P. Carey in a research report on Friday. Robert W. Baird assumed coverage on W.P. Carey in a report on Wednesday, October 18th. They set an “outperform” rating and a $77.00 price target on the stock. Finally, Zacks Investment Research lowered W.P. Carey from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $70.00.
Shares of W.P. Carey Inc. (WPC) traded down $0.26 during trading hours on Monday, hitting $70.99. 264,700 shares of the company were exchanged, compared to its average volume of 315,327. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 1.19. W.P. Carey Inc. has a 1 year low of $55.97 and a 1 year high of $71.99. The company has a market cap of $7,589.50, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 3.94 and a beta of 0.95.
W.P. Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, November 3rd. The real estate investment trust reported $1.37 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.21. W.P. Carey had a net margin of 31.28% and a return on equity of 7.25%. The firm had revenue of $210.00 million during the quarter, compared to the consensus estimate of $212.72 million. During the same quarter last year, the firm earned $1.34 EPS. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. equities research analysts predict that W.P. Carey Inc. will post 4.5 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were paid a $1.005 dividend. The ex-dividend date was Friday, September 29th. This represents a $4.02 annualized dividend and a yield of 5.66%. This is an increase from W.P. Carey’s previous quarterly dividend of $1.00. W.P. Carey’s dividend payout ratio (DPR) is presently 174.78%.
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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