W.P. Carey Inc. (WPC) Shares Bought by Morse Asset Management Inc
Morse Asset Management Inc increased its position in W.P. Carey Inc. (NYSE:WPC) by 1.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,500 shares of the real estate investment trust’s stock after buying an additional 100 shares during the period. Morse Asset Management Inc’s holdings in W.P. Carey were worth $429,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. increased its stake in W.P. Carey by 17.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 349,785 shares of the real estate investment trust’s stock worth $21,764,000 after buying an additional 50,736 shares during the last quarter. Janney Montgomery Scott LLC increased its position in W.P. Carey by 7.9% in the first quarter. Janney Montgomery Scott LLC now owns 21,015 shares of the real estate investment trust’s stock worth $1,308,000 after buying an additional 1,534 shares in the last quarter. First Manhattan Co. increased its position in W.P. Carey by 0.6% in the first quarter. First Manhattan Co. now owns 15,700 shares of the real estate investment trust’s stock worth $1,013,000 after buying an additional 100 shares in the last quarter. JPMorgan Chase & Co. increased its position in W.P. Carey by 6.8% in the first quarter. JPMorgan Chase & Co. now owns 305,597 shares of the real estate investment trust’s stock worth $19,015,000 after buying an additional 19,456 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in W.P. Carey by 29.8% in the fourth quarter. AQR Capital Management LLC now owns 18,079 shares of the real estate investment trust’s stock worth $1,069,000 after buying an additional 4,155 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.
W.P. Carey Inc. (NYSE:WPC) opened at 66.46 on Thursday. W.P. Carey Inc. has a 12-month low of $55.77 and a 12-month high of $69.73. The stock’s 50 day moving average is $67.36 and its 200-day moving average is $64.28. The company has a market cap of $7.08 billion, a P/E ratio of 26.81 and a beta of 0.88.
W.P. Carey (NYSE:WPC) last announced its quarterly earnings data on Friday, August 4th. The real estate investment trust reported $0.59 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 the consensus estimate of $221.19 million. W.P. Carey had a return on equity of 8.10% and a net margin of 34.97%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 EPS. Analysts predict that W.P. Carey Inc. will post $2.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 6.02%. The ex-dividend date was Wednesday, June 28th. This is a positive change from W.P. Carey’s previous quarterly dividend of $1.00. W.P. Carey’s payout ratio is currently 154.44%.
A number of research analysts have recently weighed in on WPC shares. ValuEngine downgraded shares of W.P. Carey from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of W.P. Carey in a report on Tuesday, May 23rd. Wells Fargo & Company restated a “market perform” rating and set 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 downgraded 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 report on Monday, June 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. W.P. Carey presently has an average rating of “Hold” and an average price target of $67.75.
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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