6,377 Shares in W.P. Carey Inc. (WPC) Purchased by BB&T Investment Services Inc.

BB&T Investment Services Inc. bought a new stake in W.P. Carey Inc. (NYSE:WPC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,377 shares of the real estate investment trust’s stock, valued at approximately $420,000.

Other institutional investors have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. grew its position 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 acquiring an additional 50,736 shares during the last quarter. Bank of New York Mellon Corp grew its position in W.P. Carey by 3.0% in the second quarter. Bank of New York Mellon Corp now owns 755,971 shares of the real estate investment trust’s stock valued at $49,902,000 after acquiring an additional 22,204 shares during the last quarter. JPMorgan Chase & Co. grew its position in W.P. Carey by 6.8% in the first quarter. JPMorgan Chase & Co. now owns 305,597 shares of the real estate investment trust’s stock valued at $19,015,000 after acquiring an additional 19,456 shares during the last quarter. First Trust Advisors LP grew its position in W.P. Carey by 14.7% in the second quarter. First Trust Advisors LP now owns 78,294 shares of the real estate investment trust’s stock valued at $5,168,000 after acquiring an additional 10,030 shares during the last quarter. Finally, Pring Turner Capital Group Inc. grew its position in W.P. Carey by 7.7% in the second quarter. Pring Turner Capital Group Inc. now owns 36,355 shares of the real estate investment trust’s stock valued at $2,400,000 after acquiring an additional 2,585 shares during the last quarter. Hedge funds and other institutional investors own 48.76% of the company’s stock.

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W.P. Carey Inc. (NYSE:WPC) traded up 0.5510% during mid-day trading on Thursday, hitting $69.0584. The stock had a trading volume of 68,391 shares. The company’s 50 day moving average price is $68.61 and its 200 day moving average price is $66.19. The firm has a market cap of $7.34 billion, a PE ratio of 27.7343 and a beta of 0.86. W.P. Carey Inc. has a 52 week low of $55.77 and a 52 week high of $70.38.

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

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be given a dividend of $1.005 per share. The ex-dividend date of this dividend is Friday, September 29th. This is a positive change from W.P. Carey’s previous quarterly dividend of $1.00. This represents a $4.02 annualized dividend and a dividend yield of 5.85%. W.P. Carey’s dividend payout ratio is 155.21%.

A number of research firms have issued reports on WPC. Ladenburg Thalmann Financial Services reiterated a “hold” rating on shares of W.P. Carey in a research report on Friday, September 1st. Wells Fargo & Company reiterated a “market perform” rating and issued a $69.00 target price (up previously from $59.50) on shares of W.P. Carey in a research report on Friday, June 16th. BidaskClub cut W.P. Carey from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 10th. Finally, ValuEngine upgraded W.P. Carey from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $67.67.

W.P. Carey Profile

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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