Metropolitan Life Insurance Co NY reduced its position in shares of WP Carey Inc (NYSE:WPC) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,331 shares of the real estate investment trust’s stock after selling 129 shares during the period. Metropolitan Life Insurance Co NY’s holdings in WP Carey were worth $965,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC raised its stake in WP Carey by 1,764.0% during the 4th quarter. HighPoint Advisor Group LLC now owns 67,795 shares of the real estate investment trust’s stock worth $5,097,000 after acquiring an additional 64,158 shares in the last quarter. Stifel Financial Corp raised its stake in WP Carey by 28.4% during the 4th quarter. Stifel Financial Corp now owns 40,553 shares of the real estate investment trust’s stock worth $2,654,000 after acquiring an additional 8,969 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in WP Carey by 43.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 26,630 shares of the real estate investment trust’s stock worth $2,086,000 after acquiring an additional 8,030 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in WP Carey during the 4th quarter worth $3,276,000. Finally, Macquarie Group Ltd. raised its stake in WP Carey by 58.4% during the 4th quarter. Macquarie Group Ltd. now owns 62,900 shares of the real estate investment trust’s stock worth $4,110,000 after acquiring an additional 23,200 shares in the last quarter. 53.93% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on WPC shares. Citigroup started coverage on shares of UBISOFT ENTMT S/ADR in a research note on Friday, June 7th. They set a “buy” rating on the stock. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of Andeavor Logistics in a research note on Wednesday, May 8th. Zacks Investment Research upgraded shares of GCP Applied Technologies from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Finally, Evercore ISI lowered shares of Essex Property Trust from an “outperform” rating to an “in-line” rating in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $74.45.
WP Carey (NYSE:WPC) last issued its quarterly earnings results on Friday, May 3rd. The real estate investment trust reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.01. WP Carey had a net margin of 44.84% and a return on equity of 8.12%. The business had revenue of $298.30 million for the quarter, compared to analyst estimates of $304.42 million. During the same period in the previous year, the business posted $0.72 earnings per share. The business’s revenue was up 47.8% compared to the same quarter last year. On average, sell-side analysts anticipate that WP Carey Inc will post 4.93 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $1.034 per share. This represents a $4.14 dividend on an annualized basis and a dividend yield of 4.87%. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. The ex-dividend date was Thursday, June 27th. WP Carey’s payout ratio is 76.81%.
About WP Carey
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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