NN Investment Partners Holdings N.V. bought a new position in WP Carey Inc (NYSE:WPC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 77,745 shares of the real estate investment trust’s stock, valued at approximately $5,000,000. NN Investment Partners Holdings N.V. owned 0.07% of WP Carey at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of WPC. Massachusetts Financial Services Co. MA purchased a new position in shares of WP Carey in the 2nd quarter worth $68,844,000. BlackRock Inc. increased its holdings in WP Carey by 1.7% in the 2nd quarter. BlackRock Inc. now owns 7,228,551 shares of the real estate investment trust’s stock valued at $479,613,000 after purchasing an additional 124,191 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. increased its holdings in WP Carey by 2,859.5% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 97,603 shares of the real estate investment trust’s stock valued at $6,476,000 after purchasing an additional 94,305 shares in the last quarter. Millennium Management LLC acquired a new stake in WP Carey in the 1st quarter valued at $4,530,000. Finally, Chicago Equity Partners LLC increased its holdings in WP Carey by 61.9% in the 2nd quarter. Chicago Equity Partners LLC now owns 179,765 shares of the real estate investment trust’s stock valued at $11,927,000 after purchasing an additional 68,735 shares in the last quarter. 48.81% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently issued reports on the company. Zacks Investment Research downgraded WP Carey from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. ValuEngine upgraded WP Carey from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Finally, Bank of America increased their price target on WP Carey from $59.00 to $66.25 and gave the company an “underperform” rating in a report on Monday, August 13th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. WP Carey has an average rating of “Hold” and an average price target of $70.08.
WP Carey (NYSE:WPC) last announced its quarterly earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.23. WP Carey had a return on equity of 8.51% and a net margin of 38.18%. The firm had revenue of $209.40 million during the quarter, compared to the consensus estimate of $215.47 million. During the same period in the prior year, the firm earned $0.74 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts forecast that WP Carey Inc will post 5.26 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were issued a $1.025 dividend. This is an increase from WP Carey’s previous quarterly dividend of $1.02. This represents a $4.10 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend was Friday, September 28th. WP Carey’s dividend payout ratio is currently 77.36%.
WP Carey Company Profile
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of over $11 billion and a portfolio of operationally-critical commercial real estate totaling 878 properties covering approximately 87 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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