Zurcher Kantonalbank Zurich Cantonalbank Sells 4,659 Shares of WP Carey Inc (NYSE:WPC)
Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of WP Carey Inc (NYSE:WPC) by 5.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 75,098 shares of the real estate investment trust’s stock after selling 4,659 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in WP Carey were worth $5,080,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. Wedbush Securities Inc. grew its position in shares of WP Carey by 4.1% during the 1st quarter. Wedbush Securities Inc. now owns 4,280 shares of the real estate investment trust’s stock worth $249,000 after purchasing an additional 167 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of WP Carey by 75.6% during the first quarter. Lindbrook Capital LLC now owns 425 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 183 shares during the last quarter. CWM LLC raised its stake in WP Carey by 1.4% during the first quarter. CWM LLC now owns 13,334 shares of the real estate investment trust’s stock worth $774,000 after buying an additional 183 shares during the last quarter. Sullivan Bruyette Speros & Blaney LLC raised its stake in WP Carey by 7.3% during the first quarter. Sullivan Bruyette Speros & Blaney LLC now owns 2,938 shares of the real estate investment trust’s stock worth $171,000 after buying an additional 200 shares during the last quarter. Finally, Utah Retirement Systems raised its stake in WP Carey by 0.5% during the first quarter. Utah Retirement Systems now owns 38,764 shares of the real estate investment trust’s stock worth $2,251,000 after buying an additional 200 shares during the last quarter. 58.69% of the stock is currently owned by hedge funds and other institutional investors.
WPC has been the subject of a number of analyst reports. Citigroup lowered their target price on shares of WP Carey from $83.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. BMO Capital Markets restated a “buy” rating on shares of WP Carey in a report on Friday. Zacks Investment Research cut shares of WP Carey from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Wells Fargo & Co raised their price target on shares of WP Carey from $64.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, June 10th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. WP Carey presently has an average rating of “Hold” and a consensus price target of $74.25.
NYSE:WPC opened at $71.37 on Friday. The stock has a market capitalization of $12.31 billion, a price-to-earnings ratio of 40.78 and a beta of 0.76. The firm has a fifty day simple moving average of $68.18 and a two-hundred day simple moving average of $69.91. WP Carey Inc has a 12 month low of $38.62 and a 12 month high of $93.62. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 0.89.
WP Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, July 31st. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.01. The firm had revenue of $290.50 million during the quarter, compared to analysts’ expectations of $291.88 million. WP Carey had a net margin of 24.64% and a return on equity of 4.38%. The business’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. Equities analysts predict that WP Carey Inc will post 4.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $1.042 per share. This is a boost from WP Carey’s previous quarterly dividend of $1.04. This represents a $4.17 dividend on an annualized basis and a dividend yield of 5.84%. The ex-dividend date of this dividend was Monday, June 29th. WP Carey’s dividend payout ratio (DPR) is currently 83.40%.
WP Carey Company Profile
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $17 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,163 net lease properties covering approximately 131 million square feet. For over four decades, the company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators.
Further Reading: How is an ETF different from a mutual fund?
Want to see what other hedge funds are holding WPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WP Carey Inc (NYSE:WPC).
Receive News & Ratings for WP Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WP Carey and related companies with MarketBeat.com's FREE daily email newsletter.