Janney Montgomery Scott LLC cut its holdings in WP Carey Inc (NYSE:WPC) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,391 shares of the real estate investment trust’s stock after selling 409 shares during the period. Janney Montgomery Scott LLC’s holdings in WP Carey were worth $4,984,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Centaurus Financial Inc. boosted its position in WP Carey by 65.4% in the 1st quarter. Centaurus Financial Inc. now owns 2,051 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 811 shares during the period. Manchester Financial Inc. bought a new stake in shares of WP Carey in the 2nd quarter valued at about $32,000. Mcmillion Capital Management Inc. bought a new stake in shares of WP Carey in the 2nd quarter valued at about $53,000. Meridian Wealth Management LLC bought a new stake in shares of WP Carey in the 2nd quarter valued at about $57,000. Finally, Baystate Wealth Management LLC raised its holdings in shares of WP Carey by 22.5% in the 1st quarter. Baystate Wealth Management LLC now owns 785 shares of the real estate investment trust’s stock valued at $61,000 after purchasing an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 54.04% of the company’s stock.
NYSE WPC opened at $87.39 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $14.91 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 6.62 and a beta of 0.48. The stock’s 50 day moving average price is $84.34. WP Carey Inc has a 52 week low of $62.12 and a 52 week high of $88.12.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $1.034 per share. This represents a $4.14 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend was Thursday, June 27th. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. WP Carey’s payout ratio is 76.81%.
Several equities research analysts have recently commented on WPC shares. Citigroup upgraded shares of WP Carey from a “sell” rating to a “neutral” rating and boosted their price target for the company from $59.00 to $81.00 in a report on Friday, June 7th. Zacks Investment Research lowered shares of WP Carey from a “hold” rating to a “sell” rating in a report on Friday, August 9th. ValuEngine lowered shares of WP Carey from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Mitsubishi UFJ Financial Group reduced their price target on shares of WP Carey to $77.00 and set a “neutral” rating for the company in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. WP Carey has an average rating of “Hold” and a consensus target price of $76.50.
WP Carey Company Profile
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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