Rafferty Asset Management LLC raised its position in shares of W. P. Carey Inc. (NYSE:WPC) by 52.1% in the second quarter, Holdings Channel reports. The firm owned 14,036 shares of the real estate investment trust’s stock after acquiring an additional 4,805 shares during the quarter. Rafferty Asset Management LLC’s holdings in W. P. Carey were worth $1,047,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Capital Investment Advisory Services LLC increased its stake in W. P. Carey by 1.8% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 7,979 shares of the real estate investment trust’s stock valued at $595,000 after purchasing an additional 142 shares in the last quarter. NEXT Financial Group Inc increased its stake in W. P. Carey by 2.9% during the 2nd quarter. NEXT Financial Group Inc now owns 5,156 shares of the real estate investment trust’s stock valued at $385,000 after purchasing an additional 144 shares in the last quarter. Parallel Advisors LLC increased its stake in W. P. Carey by 9.3% during the 2nd quarter. Parallel Advisors LLC now owns 1,719 shares of the real estate investment trust’s stock valued at $128,000 after purchasing an additional 146 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of W. P. Carey by 2.6% in the first quarter. CIBC Asset Management Inc now owns 6,639 shares of the real estate investment trust’s stock worth $470,000 after acquiring an additional 169 shares during the period. Finally, Sheets Smith Wealth Management grew its stake in shares of W. P. Carey by 0.3% in the second quarter. Sheets Smith Wealth Management now owns 79,243 shares of the real estate investment trust’s stock worth $5,913,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 57.90% of the company’s stock.
A number of analysts have recently commented on WPC shares. Capital One Financial upgraded shares of W. P. Carey from an “equal weight” rating to an “overweight” rating and set a $90.00 price target for the company in a research note on Monday, July 26th. Wells Fargo & Company lifted their price target on shares of W. P. Carey from $77.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 23rd. Zacks Investment Research lowered shares of W. P. Carey from a “buy” rating to a “hold” rating in a research note on Saturday, September 4th. JPMorgan Chase & Co. upgraded 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 research note on Tuesday, June 15th. Finally, Royal Bank of Canada assumed coverage on shares of W. P. Carey in a research report on Friday. They set an “outperform” rating and a $89.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $87.50.
W. P. Carey (NYSE:WPC) last issued its quarterly earnings results on Thursday, July 29th. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.12). W. P. Carey had a net margin of 36.74% and a return on equity of 6.52%. The firm had revenue of $319.72 million for the quarter, compared to analysts’ expectations of $315.03 million. During the same period in the prior year, the firm earned $0.61 EPS. W. P. Carey’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts anticipate that W. P. Carey Inc. will post 4.86 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be issued a $1.052 dividend. This represents a $4.21 annualized dividend and a dividend yield of 5.54%. The ex-dividend date of this dividend is Wednesday, September 29th. This is an increase from W. P. Carey’s previous quarterly dividend of $1.05. W. P. Carey’s payout ratio is 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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