Honeywell International Inc. Buys Shares of 11,400 W.P. Carey Inc. (NYSE:WPC)
Honeywell International Inc. bought a new stake in shares of W.P. Carey Inc. (NYSE:WPC) during the second quarter, Holdings Channel reports. The firm bought 11,400 shares of the real estate investment trust’s stock, valued at approximately $753,000.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its position in shares of W.P. Carey by 4,264.3% in the first quarter. BlackRock Inc. now owns 6,517,625 shares of the real estate investment trust’s stock valued at $405,525,000 after buying an additional 6,368,287 shares during the period. Vanguard Group Inc. raised its position in shares of W.P. Carey by 2.4% in the first quarter. Vanguard Group Inc. now owns 16,099,968 shares of the real estate investment trust’s stock valued at $1,001,740,000 after buying an additional 380,735 shares during the period. American Century Companies Inc. raised its position in shares of W.P. Carey by 46.4% in the first quarter. American Century Companies Inc. now owns 1,193,729 shares of the real estate investment trust’s stock valued at $74,274,000 after buying an additional 378,093 shares during the period. Advisors Capital Management LLC acquired a new position in shares of W.P. Carey during the second quarter valued at about $13,238,000. Finally, State Street Corp raised its position in shares of W.P. Carey by 5.0% in the first quarter. State Street Corp now owns 1,937,604 shares of the real estate investment trust’s stock valued at $120,555,000 after buying an additional 91,493 shares during the period. 49.40% of the stock is currently owned by institutional investors.
W.P. Carey Inc. (NYSE WPC) opened at 66.46 on Thursday. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 26.81 and a beta of 0.88. W.P. Carey Inc. has a 1-year low of $55.77 and a 1-year high of $69.73. The company’s 50-day moving average is $67.36 and its 200 day moving average is $64.28.
W.P. Carey (NYSE:WPC) last released its quarterly earnings data on Friday, August 4th. The real estate investment trust reported $0.59 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by $0.56. W.P. Carey had a net margin of 34.97% and a return on equity of 8.10%. The firm had revenue of $221.52 million during the quarter, compared to analyst estimates of $221.19 million. During the same period in the prior year, the company earned $1.24 EPS. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities analysts predict that W.P. Carey Inc. will post $2.23 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a $1.00 dividend. The ex-dividend date was Wednesday, June 28th. This is a boost from W.P. Carey’s previous quarterly dividend of $1.00. This represents a $4.00 annualized dividend and a yield of 6.02%. W.P. Carey’s dividend payout ratio is presently 154.44%.
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WPC has been the topic of several recent research reports. ValuEngine lowered shares of W.P. Carey from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Wells Fargo & Company reaffirmed 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 note on Friday, June 16th. Evercore ISI lowered shares of W.P. Carey from an “in-line” rating to an “underperform” rating and set a $64.00 target price on the stock. in a research note on Monday, June 12th. Finally, Ladenburg Thalmann Financial Services reaffirmed a “hold” rating 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 issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price 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.
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