Zevin Asset Management LLC lessened its stake in shares of WP Carey Inc (NYSE:WPC) by 49.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,365 shares of the real estate investment trust’s stock after selling 3,245 shares during the period. Zevin Asset Management LLC’s holdings in WP Carey were worth $301,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of WPC. Centaurus Financial Inc. raised its holdings in WP Carey by 65.4% during the 1st quarter. Centaurus Financial Inc. now owns 2,051 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 811 shares during the period. Lenox Wealth Advisors LLC bought a new stake in shares of WP Carey in the 3rd quarter valued at approximately $26,000. Manchester Financial Inc. bought a new stake in shares of WP Carey in the 2nd quarter valued at approximately $32,000. Parkside Financial Bank & Trust grew its stake in shares of WP Carey by 406.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 400 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 321 shares in the last quarter. Finally, TD Capital Management LLC bought a new stake in shares of WP Carey in the 2nd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 57.77% of the company’s stock.
WPC traded down $0.68 on Friday, hitting $84.46. The company had a trading volume of 621,950 shares, compared to its average volume of 825,606. The company’s fifty day moving average price is $90.53 and its 200 day moving average price is $85.86. WP Carey Inc has a 1-year low of $63.76 and a 1-year high of $93.62. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.67 and a quick ratio of 0.35. The stock has a market cap of $14.62 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 6.57 and a beta of 0.43.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.036 dividend. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.14 annualized dividend and a yield of 4.91%. The ex-dividend date was Friday, September 27th. WP Carey’s payout ratio is 76.81%.
Several equities research analysts recently commented on the company. ValuEngine cut WP Carey from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. BMO Capital Markets assumed coverage on WP Carey in a research note on Friday, October 25th. They issued an “outperform” rating for the company. Finally, Zacks Investment Research raised WP Carey from a “sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. WP Carey currently has a consensus rating of “Hold” and a consensus target price of $77.00.
WP Carey 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.
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