Zevin Asset Management LLC Sells 3,245 Shares of WP Carey Inc (NYSE:WPC)

Zevin Asset Management LLC lessened its holdings in shares of WP Carey Inc (NYSE:WPC) by 49.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,365 shares of the real estate investment trust’s stock after selling 3,245 shares during the period. Zevin Asset Management LLC’s holdings in WP Carey were worth $301,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Unigestion Holding SA grew its holdings in shares of WP Carey by 216.0% during the third quarter. Unigestion Holding SA now owns 264,641 shares of the real estate investment trust’s stock worth $23,685,000 after purchasing an additional 180,900 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of WP Carey by 2.4% during the third quarter. Daiwa Securities Group Inc. now owns 36,300 shares of the real estate investment trust’s stock worth $3,249,000 after purchasing an additional 850 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of WP Carey by 65.1% during the third quarter. SRS Capital Advisors Inc. now owns 10,150 shares of the real estate investment trust’s stock worth $908,000 after purchasing an additional 4,002 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of WP Carey by 37.9% during the third quarter. Cullen Frost Bankers Inc. now owns 20,593 shares of the real estate investment trust’s stock worth $1,843,000 after purchasing an additional 5,658 shares during the last quarter. Finally, Creative Planning grew its holdings in shares of WP Carey by 7.5% during the third quarter. Creative Planning now owns 40,037 shares of the real estate investment trust’s stock worth $3,583,000 after purchasing an additional 2,809 shares during the last quarter. Institutional investors own 57.77% of the company’s stock.

Several analysts have recently commented on WPC shares. Zacks Investment Research upgraded WP Carey from a “sell” rating to a “hold” rating in a report on Saturday. BMO Capital Markets started coverage on WP Carey in a report on Friday, October 25th. They set an “outperform” rating on the stock. Finally, ValuEngine cut WP Carey from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. WP Carey currently has an average rating of “Hold” and an average target price of $77.00.

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WP Carey stock traded down $0.68 during mid-day trading on Friday, hitting $84.46. The stock had a trading volume of 621,950 shares, compared to its average volume of 825,606. The stock has a 50-day simple moving average of $90.53 and a two-hundred day simple moving average of $85.86. The stock has a market capitalization of $14.62 billion, a PE ratio of 15.67, a P/E/G ratio of 6.57 and a beta of 0.43. WP Carey Inc has a 12 month low of $63.76 and a 12 month high of $93.62. The company has a current ratio of 0.67, a quick ratio of 0.35 and a debt-to-equity ratio of 0.87.

WP Carey (NYSE:WPC) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.91). The firm had revenue of $318.01 million during the quarter, compared to the consensus estimate of $317.44 million. WP Carey had a net margin of 30.89% and a return on equity of 5.31%. WP Carey’s revenue was up 51.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 EPS. Sell-side analysts expect that WP Carey Inc will post 4.86 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $1.036 dividend. This is a boost from WP Carey’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, September 27th. This represents a $4.14 annualized dividend and a yield of 4.91%. WP Carey’s dividend payout ratio (DPR) is currently 76.81%.

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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