SeaBridge Investment Advisors LLC decreased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,944 shares of the real estate investment trust’s stock after selling 1,018 shares during the period. SeaBridge Investment Advisors LLC’s holdings in W. P. Carey were worth $2,757,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Capital Investment Advisory Services LLC raised its stake in shares of W. P. Carey by 1.8% during the second quarter. Capital Investment Advisory Services LLC now owns 7,979 shares of the real estate investment trust’s stock valued at $595,000 after acquiring an additional 142 shares in the last quarter. NEXT Financial Group Inc increased its holdings in W. P. Carey by 2.9% during the second quarter. NEXT Financial Group Inc now owns 5,156 shares of the real estate investment trust’s stock valued at $385,000 after buying an additional 144 shares during the period. Parallel Advisors LLC increased its holdings in W. P. Carey by 9.3% during the second quarter. Parallel Advisors LLC now owns 1,719 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 146 shares during the period. CIBC Asset Management Inc increased its holdings in W. P. Carey by 2.6% during the first quarter. CIBC Asset Management Inc now owns 6,639 shares of the real estate investment trust’s stock valued at $470,000 after buying an additional 169 shares during the period. Finally, Sheets Smith Wealth Management increased its holdings in W. P. Carey by 0.3% during the second quarter. Sheets Smith Wealth Management now owns 79,243 shares of the real estate investment trust’s stock valued at $5,913,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 57.90% of the company’s stock.
Several equities analysts recently issued reports on WPC shares. Wells Fargo & Company lifted their price objective on shares of W. P. Carey from $77.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, June 23rd. Capital One Financial raised shares of W. P. Carey from an “equal weight” rating to an “overweight” rating and set a $90.00 price target on the stock in a report on Monday, July 26th. JPMorgan Chase & Co. raised shares of W. P. Carey from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $77.00 to $88.00 in a report on Tuesday, June 15th. Finally, Zacks Investment Research lowered shares of W. P. Carey from a “buy” rating to a “hold” rating in a report on Saturday, September 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, W. P. Carey presently has an average rating of “Buy” and a consensus target price of $87.20.
W. P. Carey (NYSE:WPC) last posted its earnings results on Thursday, July 29th. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.12). The business had revenue of $319.72 million for the quarter, compared to analyst estimates of $315.03 million. W. P. Carey had a net margin of 36.74% and a return on equity of 6.52%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 earnings per share. As a group, research analysts predict that W. P. Carey Inc. will post 4.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th were paid a dividend of $1.05 per share. The ex-dividend date of this dividend was Tuesday, June 29th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 5.50%. This is a boost from W. P. Carey’s previous quarterly dividend of $1.05. W. P. Carey’s payout ratio is currently 88.61%.
W. P. Carey Company 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.
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