State Board of Administration of Florida Retirement System Raises Holdings in W.P. Carey Inc. (WPC)
State Board of Administration of Florida Retirement System grew its position in shares of W.P. Carey Inc. (NYSE:WPC) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 146,015 shares of the real estate investment trust’s stock after purchasing an additional 1,870 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.14% of W.P. Carey worth $9,840,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of WPC. Ffcm LLC grew its holdings in shares of W.P. Carey by 179.3% during the second quarter. Ffcm LLC now owns 1,701 shares of the real estate investment trust’s stock worth $115,000 after purchasing an additional 1,092 shares during the last quarter. Bruderman Asset Management LLC purchased a new position in shares of W.P. Carey during the second quarter worth about $115,000. QCI Asset Management Inc. NY grew its holdings in shares of W.P. Carey by 148.7% during the second quarter. QCI Asset Management Inc. NY now owns 1,803 shares of the real estate investment trust’s stock worth $119,000 after buying an additional 1,078 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of W.P. Carey during the second quarter worth about $128,000. Finally, Legg Mason Asset Management Japan Co. Ltd. purchased a new position in shares of W.P. Carey during the second quarter worth about $172,000. 48.52% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on WPC. Ladenburg Thalmann Financial Services reissued a “hold” rating on shares of W.P. Carey in a report on Friday. BidaskClub raised W.P. Carey from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 19th. ValuEngine raised W.P. Carey from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Robert W. Baird began 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 report on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. W.P. Carey has an average rating of “Hold” and a consensus target price of $70.00.
Shares of W.P. Carey Inc. (NYSE:WPC) opened at $70.99 on Friday. W.P. Carey Inc. has a twelve month low of $55.97 and a twelve month high of $71.99. The firm has a market capitalization of $7,589.54, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 3.93 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.35 and a quick ratio of 0.38.
W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Friday, November 3rd. The real estate investment trust reported $1.37 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.21. W.P. Carey had a return on equity of 7.25% and a net margin of 31.28%. The company had revenue of $210.00 million for the quarter, compared to analyst estimates of $212.72 million. During the same quarter in the previous year, the company 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 forecast that W.P. Carey Inc. will post 4.5 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were issued a $1.005 dividend. This represents a $4.02 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date was Friday, September 29th. This is a positive change from W.P. Carey’s previous quarterly dividend of $1.00. W.P. Carey’s payout ratio is currently 174.78%.
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About W.P. Carey
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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