Maple Capital Management Inc. lessened its holdings in W. P. Carey (NYSE:WPC) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,550 shares of the real estate investment trust’s stock after selling 998 shares during the period. Maple Capital Management Inc.’s holdings in W. P. Carey were worth $1,691,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in WPC. American International Group Inc. acquired a new position in W. P. Carey during the 4th quarter worth about $152,000. AlphaStar Capital Management LLC purchased a new stake in W. P. Carey during the 4th quarter worth about $200,000. Park Avenue Securities LLC purchased a new stake in W. P. Carey during the 3rd quarter worth about $201,000. Opus Capital Group LLC purchased a new stake in W. P. Carey during the 4th quarter worth about $201,000. Finally, LVW Advisors LLC purchased a new stake in W. P. Carey during the 4th quarter worth about $201,000. 50.33% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded W. P. Carey from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Tuesday, March 20th. ValuEngine downgraded W. P. Carey from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Capital One Financial restated an “equal weight” rating on shares of W. P. Carey in a research note on Sunday, February 25th. Finally, Evercore ISI downgraded W. P. Carey from an “in-line” rating to an “underperform” rating in a research note on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $70.00.
In other news, Director Peter Farrell bought 2,035 shares of W. P. Carey stock in a transaction that occurred on Monday, March 12th. The shares were purchased at an average price of $61.88 per share, for a total transaction of $125,925.80. Following the completion of the acquisition, the director now owns 4,378 shares of the company’s stock, valued at $270,910.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher Niehaus bought 4,000 shares of W. P. Carey stock in a transaction that occurred on Friday, March 16th. The stock was purchased at an average price of $62.28 per share, for a total transaction of $249,120.00. Following the acquisition, the director now directly owns 5,188 shares of the company’s stock, valued at approximately $323,108.64. The disclosure for this purchase can be found here. Company insiders own 1.32% of the company’s stock.
Shares of WPC traded down $0.10 during mid-day trading on Friday, hitting $62.32. The company’s stock had a trading volume of 261,491 shares, compared to its average volume of 351,072. The stock has a market capitalization of $6,674.62, a P/E ratio of 11.76, a P/E/G ratio of 3.91 and a beta of 0.73. W. P. Carey has a 1-year low of $59.23 and a 1-year high of $72.41. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.34 and a quick ratio of 0.34.
W. P. Carey (NYSE:WPC) last issued its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.06. The firm had revenue of $196.96 million during the quarter, compared to analysts’ expectations of $210.92 million. W. P. Carey had a return on equity of 8.05% and a net margin of 36.17%. W. P. Carey’s revenue was down 13.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 earnings per share. research analysts anticipate that W. P. Carey will post 4.87 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be given a dividend of $1.015 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $4.06 annualized dividend and a yield of 6.51%. W. P. Carey’s dividend payout ratio (DPR) is presently 76.60%.
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About W. P. Carey
Celebrating its 45th anniversary, W. P. Carey Inc is a leading internally-managed net lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions primarily for companies in the U.S. and Europe. At December 31, 2017, the Company had an enterprise value of approximately $11.5 billion.
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