Private Advisor Group LLC Boosts Stake in WP Carey Inc (NYSE:WPC)

Private Advisor Group LLC lifted its stake in WP Carey Inc (NYSE:WPC) by 12.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,182 shares of the real estate investment trust’s stock after acquiring an additional 9,930 shares during the period. Private Advisor Group LLC owned approximately 0.05% of WP Carey worth $7,142,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sawtooth Solutions LLC raised its stake in shares of WP Carey by 59.2% during the 1st quarter. Sawtooth Solutions LLC now owns 17,435 shares of the real estate investment trust’s stock worth $1,366,000 after purchasing an additional 6,486 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in WP Carey by 159.6% in the 1st quarter. Xact Kapitalforvaltning AB now owns 14,800 shares of the real estate investment trust’s stock valued at $1,159,000 after acquiring an additional 9,100 shares during the period. HGI Capital Management LLC bought a new stake in WP Carey in the 1st quarter valued at $3,295,000. NumerixS Investment Technologies Inc bought a new stake in WP Carey in the 1st quarter valued at $298,000. Finally, Swiss National Bank raised its stake in WP Carey by 8.8% in the 1st quarter. Swiss National Bank now owns 569,651 shares of the real estate investment trust’s stock valued at $44,621,000 after acquiring an additional 46,000 shares during the period. Hedge funds and other institutional investors own 53.95% of the company’s stock.

Shares of WPC stock traded down $0.24 on Friday, hitting $81.18. 1,585,600 shares of the company’s stock were exchanged, compared to its average volume of 933,417. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $13.94 billion, a PE ratio of 15.06, a P/E/G ratio of 5.66 and a beta of 0.51. WP Carey Inc has a 12 month low of $62.12 and a 12 month high of $86.41. The stock’s 50 day moving average is $83.10.

WP Carey (NYSE:WPC) last posted its earnings results on Friday, May 3rd. The real estate investment trust reported $1.21 EPS for the quarter, beating the consensus estimate of $1.20 by $0.01. WP Carey had a return on equity of 8.12% and a net margin of 44.84%. The firm had revenue of $298.30 million during the quarter, compared to the consensus estimate of $304.42 million. During the same period last year, the company earned $0.72 earnings per share. The business’s quarterly revenue was up 47.8% on a year-over-year basis. As a group, analysts predict that WP Carey Inc will post 4.93 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $1.034 per share. The ex-dividend date is Thursday, June 27th. This represents a $4.14 annualized dividend and a yield of 5.09%. This is a boost from WP Carey’s previous quarterly dividend of $1.03. WP Carey’s dividend payout ratio (DPR) is currently 76.62%.

A number of research firms recently weighed in on WPC. Citigroup upgraded WP Carey from a “sell” rating to a “neutral” rating and increased their price target for the company from $59.00 to $81.00 in a research note on Friday, June 7th. Zacks Investment Research raised WP Carey from a “sell” rating to a “hold” rating in a report on Friday, May 31st. Evercore ISI lowered WP Carey from an “in-line” rating to an “underperform” rating in a report on Monday, April 1st. They noted that the move was a valuation call. Mitsubishi UFJ Financial Group initiated coverage on WP Carey in a report on Tuesday, March 26th. They set a “neutral” rating and a $78.00 target price on the stock. Finally, Capital One Financial reissued an “equal weight” rating on shares of WP Carey in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $74.45.

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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Institutional Ownership by Quarter for WP Carey (NYSE:WPC)

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