First National Bank of Mount Dora Trust Investment Services lifted its holdings in W. P. Carey Inc. (NYSE:WPC) by 26.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,400 shares of the real estate investment trust’s stock after buying an additional 2,200 shares during the period. First National Bank of Mount Dora Trust Investment Services’ holdings in W. P. Carey were worth $736,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Advisory Securities LLC increased its holdings in shares of W. P. Carey by 3.3% in the 4th quarter. Brown Advisory Securities LLC now owns 4,685 shares of the real estate investment trust’s stock valued at $331,000 after acquiring an additional 150 shares during the period. BTC Capital Management Inc. raised its holdings in W. P. Carey by 2.8% in the fourth quarter. BTC Capital Management Inc. now owns 5,807 shares of the real estate investment trust’s stock worth $409,000 after purchasing an additional 158 shares in the last quarter. Headinvest LLC lifted its position in shares of W. P. Carey by 5.7% during the third quarter. Headinvest LLC now owns 3,167 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 170 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of W. P. Carey by 2.5% in the 4th quarter. Advisory Services Network LLC now owns 7,359 shares of the real estate investment trust’s stock valued at $520,000 after buying an additional 182 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in shares of W. P. Carey by 5.0% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 4,295 shares of the real estate investment trust’s stock worth $280,000 after buying an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 62.16% of the company’s stock.
WPC has been the subject of several recent analyst reports. Bank of America downgraded shares of W. P. Carey from a “buy” rating to an “underperform” rating in a research note on Wednesday. Zacks Investment Research downgraded W. P. Carey from a “hold” rating to a “sell” rating in a research note on Thursday, March 11th. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $76.00.
W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Thursday, February 11th. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.39). The company had revenue of $307.40 million during the quarter, compared to analysts’ expectations of $297.15 million. W. P. Carey had a return on equity of 4.98% and a net margin of 28.17%. The company’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 EPS. Sell-side analysts expect that W. P. Carey Inc. will post 4.58 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Shareholders of record on Wednesday, March 31st will be given a dividend of $1.048 per share. The ex-dividend date is Tuesday, March 30th. This represents a $4.19 dividend on an annualized basis and a yield of 5.89%. This is a boost from W. P. Carey’s previous quarterly dividend of $1.05. W. P. Carey’s payout ratio is currently 83.80%.
W. P. Carey Profile
W.P. Carey, Inc operates as a real estate investment trust. It operates through two segment: Real Estate Ownership and Investment Management. The Real Estate Ownership segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for the real estate investment trusts, and manages portfolios of real estate investments.
Further Reading: What are Institutional Investors?
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