Virginia Retirement Systems ET AL Has $6.91 Million Holdings in WP Carey Inc (WPC)
Virginia Retirement Systems ET AL boosted its stake in WP Carey Inc (NYSE:WPC) by 2.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 107,500 shares of the real estate investment trust’s stock after purchasing an additional 2,500 shares during the period. Virginia Retirement Systems ET AL’s holdings in WP Carey were worth $6,913,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. Assetmark Inc. acquired a new stake in WP Carey in the second quarter worth $117,000. First Hawaiian Bank acquired a new stake in WP Carey in the third quarter worth $123,000. Chicago Capital LLC acquired a new stake in WP Carey in the second quarter worth $207,000. Gradient Capital Advisors LLC acquired a new stake in WP Carey in the second quarter worth $213,000. Finally, Kovack Advisors Inc. acquired a new stake in WP Carey in the third quarter worth $209,000. 49.26% of the stock is currently owned by hedge funds and other institutional investors.
WPC has been the topic of several analyst reports. ValuEngine raised WP Carey from a “sell” rating to a “hold” rating in a research report on Thursday, October 11th. Zacks Investment Research lowered WP Carey from a “buy” rating to a “hold” rating in a research report on Thursday, October 25th. Finally, Bank of America increased their target price on WP Carey from $59.00 to $66.25 and gave the stock an “underperform” rating in a research report on Monday, August 13th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $70.08.
WP Carey (NYSE:WPC) last issued its quarterly earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.08. The company had revenue of $209.40 million for the quarter, compared to analyst estimates of $215.47 million. WP Carey had a return on equity of 8.78% and a net margin of 39.03%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. Sell-side analysts anticipate that WP Carey Inc will post 5.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, October 1st were issued a dividend of $1.025 per share. This represents a $4.10 dividend on an annualized basis and a dividend yield of 6.35%. This is a positive change from WP Carey’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Friday, September 28th. WP Carey’s dividend payout ratio (DPR) is 77.36%.
In other WP Carey news, Director Jean Hoysradt purchased 2,300 shares of the stock in a transaction dated Tuesday, November 6th. The shares were bought at an average cost of $64.73 per share, with a total value of $148,879.00. Following the completion of the acquisition, the director now owns 9,255 shares of the company’s stock, valued at $599,076.15. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.56% of the stock is currently owned by company insiders.
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WP Carey Company Profile
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of over $11 billion and a portfolio of operationally-critical commercial real estate totaling 878 properties covering approximately 87 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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