Prudential PLC boosted its holdings in W. P. Carey Inc. (NYSE:WPC – Get Rating) by 149.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 11,597 shares of the real estate investment trust’s stock after buying an additional 6,953 shares during the period. Prudential PLC’s holdings in W. P. Carey were worth $906,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of WPC. State Street Corp raised its stake in shares of W. P. Carey by 17.1% during the first quarter. State Street Corp now owns 9,572,789 shares of the real estate investment trust’s stock valued at $783,467,000 after purchasing an additional 1,400,997 shares during the period. PGGM Investments purchased a new stake in shares of W. P. Carey during the third quarter valued at approximately $85,049,000. Vanguard Group Inc. raised its stake in shares of W. P. Carey by 3.9% during the first quarter. Vanguard Group Inc. now owns 27,334,613 shares of the real estate investment trust’s stock valued at $2,209,731,000 after purchasing an additional 1,016,340 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of W. P. Carey by 37.7% during the third quarter. Commonwealth Equity Services LLC now owns 1,960,968 shares of the real estate investment trust’s stock valued at $136,875,000 after purchasing an additional 537,114 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of W. P. Carey by 114.1% during the third quarter. California Public Employees Retirement System now owns 790,901 shares of the real estate investment trust’s stock valued at $55,205,000 after purchasing an additional 421,512 shares during the period. Hedge funds and other institutional investors own 62.73% of the company’s stock.
Insider Buying and Selling at W. P. Carey
In other news, Director Mark A. Alexander purchased 1,000 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was acquired at an average price of $72.48 per share, with a total value of $72,480.00. Following the purchase, the director now owns 26,118 shares in the company, valued at approximately $1,893,032.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.08% of the company’s stock.
W. P. Carey Stock Performance
W. P. Carey (NYSE:WPC – Get Rating) last issued its quarterly earnings data on Friday, April 28th. The real estate investment trust reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.12. W. P. Carey had a net margin of 47.26% and a return on equity of 8.47%. The business had revenue of $427.80 million for the quarter, compared to analysts’ expectations of $406.24 million. During the same period in the previous year, the business earned $1.35 earnings per share. The company’s revenue was up 24.3% on a year-over-year basis. On average, research analysts predict that W. P. Carey Inc. will post 5.18 EPS for the current year.
W. P. Carey Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Friday, March 31st were paid a dividend of $1.067 per share. This represents a $4.27 annualized dividend and a yield of 6.14%. The ex-dividend date was Thursday, March 30th. This is a boost from W. P. Carey’s previous quarterly dividend of $1.07. W. P. Carey’s payout ratio is 119.66%.
Analyst Ratings Changes
A number of research firms have recently issued reports on WPC. JMP Securities reiterated a “market outperform” rating and set a $86.00 price objective on shares of W. P. Carey in a research note on Tuesday, March 21st. Royal Bank of Canada raised their price target on shares of W. P. Carey from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Monday, February 13th. 92 Resources reissued a “maintains” rating on shares of W. P. Carey in a research report on Monday, May 1st. Finally, StockNews.com began coverage on shares of W. P. Carey in a research report on Thursday, March 16th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, W. P. Carey has an average rating of “Moderate Buy” and an average price target of $86.80.
W. P. Carey Company Profile
W.P. Carey, Inc is an investment trust company, which engages in the commercial real estate business. It operates through the Real Estate and Investment Management segments. The Real Estate segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for real estate investment trusts, and manages portfolios of real estate investments.
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