Sumitomo Mitsui Asset Management Company LTD reduced its position in W.P. Carey Inc. (NYSE:WPC) by 42.7% during the second quarter, Holdings Channel reports. The firm owned 3,085 shares of the real estate investment trust’s stock after selling 2,300 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in W.P. Carey were worth $203,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in W.P. Carey during the first quarter worth $703,000. Wells Fargo & Company MN boosted its position in W.P. Carey by 10.5% in the first quarter. Wells Fargo & Company MN now owns 395,031 shares of the real estate investment trust’s stock worth $24,579,000 after buying an additional 37,422 shares during the period. First Midwest Bank Trust Division boosted its position in W.P. Carey by 9.6% in the first quarter. First Midwest Bank Trust Division now owns 7,790 shares of the real estate investment trust’s stock worth $485,000 after buying an additional 680 shares during the period. IFP Advisors Inc boosted its position in W.P. Carey by 4.5% in the first quarter. IFP Advisors Inc now owns 39,823 shares of the real estate investment trust’s stock worth $2,478,000 after buying an additional 1,724 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in W.P. Carey by 7.5% in the first quarter. Russell Investments Group Ltd. now owns 9,697 shares of the real estate investment trust’s stock worth $603,000 after buying an additional 678 shares during the period. 49.40% of the stock is owned by institutional investors.

Shares of W.P. Carey Inc. (NYSE WPC) opened at 65.87 on Friday. The stock has a market cap of $7.04 billion, a P/E ratio of 25.36 and a beta of 0.88. The stock has a 50 day moving average price of $67.29 and a 200-day moving average price of $64.32. W.P. Carey Inc. has a 12 month low of $55.77 and a 12 month high of $69.00.

W.P. Carey (NYSE:WPC) last released its earnings results on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.15 by $0.56. The business had revenue of $221.52 million during the quarter, compared to analysts’ expectations of $221.19 million. W.P. Carey had a net margin of 34.97% and a return on equity of 8.10%. W.P. Carey’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.24 EPS. On average, analysts forecast that W.P. Carey Inc. will post $2.23 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 6.07%. This is a positive change from W.P. Carey’s previous quarterly dividend of $1.00. W.P. Carey’s dividend payout ratio is presently 154.44%.

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A number of research firms have recently weighed in on WPC. Wells Fargo & Company reissued a “market perform” rating and issued a $69.00 price target (up from $59.50) on shares of W.P. Carey in a report on Friday, June 16th. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of W.P. Carey in a research report on Friday, June 16th. Evercore ISI downgraded W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 price objective for the company. in a research report on Monday, June 12th. BidaskClub downgraded W.P. Carey from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Finally, ValuEngine downgraded W.P. Carey from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. W.P. Carey has a consensus rating of “Hold” and a consensus target price 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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Institutional Ownership by Quarter for W.P. Carey (NYSE:WPC)

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