Bradley Foster & Sargent Inc. CT lowered its position in W.P. Carey Inc. (NYSE:WPC) by 83.0% during the third quarter, Holdings Channel reports. The institutional investor owned 13,500 shares of the company’s stock after selling 65,982 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in W.P. Carey were worth $871,000 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. AllSquare Wealth Management LLC increased its stake in W.P. Carey by 11.1% in the second quarter. AllSquare Wealth Management LLC now owns 2,000 shares of the company’s stock worth $139,000 after buying an additional 200 shares during the last quarter. Logan Capital Management Inc. purchased a new stake in W.P. Carey during the second quarter worth approximately $201,000. Northwestern Mutual Wealth Management Co. increased its stake in W.P. Carey by 4.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,188 shares of the company’s stock worth $221,000 after buying an additional 129 shares during the last quarter. Stratos Wealth Partners LTD. purchased a new stake in W.P. Carey during the second quarter worth approximately $226,000. Finally, Invictus RG purchased a new stake in W.P. Carey during the second quarter worth approximately $233,000. 48.40% of the stock is currently owned by hedge funds and other institutional investors.
Shares of W.P. Carey Inc. (NYSE:WPC) traded down 1.22% during mid-day trading on Thursday, hitting $60.87. The stock had a trading volume of 271,986 shares. The company has a 50 day moving average price of $59.59 and a 200 day moving average price of $63.67. The firm has a market cap of $6.47 billion, a P/E ratio of 24.06 and a beta of 0.86. W.P. Carey Inc. has a 12-month low of $51.12 and a 12-month high of $72.89.
W.P. Carey (NYSE:WPC) last posted its earnings results on Thursday, November 3rd. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.20 by $0.17. W.P. Carey had a net margin of 30.17% and a return on equity of 7.71%. The business earned $204.20 million during the quarter, compared to analyst estimates of $176.33 million. During the same quarter in the prior year, the business earned $1.19 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. Equities analysts forecast that W.P. Carey Inc. will post $2.68 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were given a $0.99 dividend. This is a boost from W.P. Carey’s previous quarterly dividend of $0.99. This represents a $3.96 annualized dividend and a yield of 6.51%. The ex-dividend date of this dividend was Wednesday, December 28th. W.P. Carey’s dividend payout ratio (DPR) is currently 156.52%.
WPC has been the topic of a number of research analyst reports. BMO Capital Markets reiterated a “buy” rating and set a $81.00 target price on shares of W.P. Carey in a research report on Friday, September 23rd. Wells Fargo & Co. reiterated a “hold” rating on shares of W.P. Carey in a research report on Sunday, September 25th. Finally, Zacks Investment Research upgraded W.P. Carey from a “sell” rating to a “hold” rating in a research report on Wednesday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $71.63.
In other news, Director Mary M. Vandeweghe purchased 940 shares of the stock in a transaction dated Monday, November 7th. The shares were bought at an average cost of $58.67 per share, for a total transaction of $55,149.80. Following the transaction, the director now owns 7,484 shares in the company, valued at $439,086.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Alexander purchased 4,000 shares of the stock in a transaction dated Thursday, November 17th. The shares were purchased at an average price of $57.73 per share, for a total transaction of $230,920.00. Following the completion of the transaction, the director now owns 4,000 shares in the company, valued at approximately $230,920. The disclosure for this purchase can be found here. 1.68% of the stock is owned by company insiders.
W.P. Carey Company Profile
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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