W.P. Carey Inc. (WPC) Position Lowered by Maple Capital Management Inc.

Maple Capital Management Inc. lowered its stake in W.P. Carey Inc. (NYSE:WPC) by 2.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 29,973 shares of the real estate investment trust’s stock after selling 872 shares during the period. Maple Capital Management Inc.’s holdings in W.P. Carey were worth $1,979,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in W.P. Carey during the fourth quarter valued at approximately $46,004,000. Renaissance Technologies LLC boosted its stake in W.P. Carey by 31.2% in the fourth quarter. Renaissance Technologies LLC now owns 130,388 shares of the real estate investment trust’s stock valued at $7,705,000 after buying an additional 30,988 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in W.P. Carey by 17.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 349,785 shares of the real estate investment trust’s stock valued at $21,764,000 after buying an additional 50,736 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in W.P. Carey by 7.9% in the first quarter. Janney Montgomery Scott LLC now owns 21,015 shares of the real estate investment trust’s stock valued at $1,308,000 after buying an additional 1,534 shares in the last quarter. Finally, Whalerock Point Partners LLC boosted its stake in W.P. Carey by 10.1% in the fourth quarter. Whalerock Point Partners LLC now owns 6,570 shares of the real estate investment trust’s stock valued at $388,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

W.P. Carey Inc. (WPC) traded down 0.15% during trading on Friday, hitting $65.87. 259,289 shares of the stock were exchanged. W.P. Carey Inc. has a 1-year low of $55.77 and a 1-year high of $69.11. The firm’s 50 day moving average price is $67.29 and its 200-day moving average price is $64.32. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 25.36 and a beta of 0.88.

W.P. Carey (NYSE:WPC) last released its quarterly earnings results on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by $0.56. The firm had revenue of $221.52 million for the quarter, compared to analyst estimates of $221.19 million. W.P. Carey had a return on equity of 8.10% and a net margin of 34.97%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $1.24 EPS. On average, analysts anticipate that W.P. Carey Inc. will post $2.23 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 6.07%. The ex-dividend date was Wednesday, June 28th. This is an increase from W.P. Carey’s previous quarterly dividend of $1.00. W.P. Carey’s dividend payout ratio is presently 154.44%.

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Several analysts recently commented on WPC shares. Ladenburg Thalmann Financial Services restated a “hold” rating on shares of W.P. Carey in a report on Tuesday, May 23rd. Evercore ISI cut shares of W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 target price for the company. in a research note on Monday, June 12th. BidaskClub cut shares of W.P. Carey from a “strong-buy” rating to a “buy” rating in a research note on Thursday. ValuEngine cut shares of W.P. Carey from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Wells Fargo & Company reiterated a “market perform” rating and issued a $69.00 target price (up from $59.50) on shares of W.P. Carey in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. W.P. Carey currently has a consensus rating of “Hold” and a consensus price target of $67.75.

About W.P. Carey

W. P. Carey provides long-term, sale-leaseback and build-to-suit transactions for companies worldwide, and manages a global investment portfolio. It has two primary business segments. Under the investment management segment, the Company earns revenue as the advisor to publicly owned, non-actively traded real estate investment trusts (REITs), which are sponsored by the Company under the Corporate Property Associates brand name (the CPA REITs) and invests in similar properties.

Institutional Ownership by Quarter for W.P. Carey (NYSE:WPC)

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