Claraphi Advisory Network LLC purchased a new stake in W.P. Carey Inc. REIT (NYSE:WPC) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 5,033 shares of the real estate investment trust’s stock, valued at approximately $347,000.
A number of other institutional investors also recently modified their holdings of WPC. Berkshire Asset Management LLC PA increased its holdings in W.P. Carey Inc. REIT by 9.1% in the 4th quarter. Berkshire Asset Management LLC PA now owns 293,092 shares of the real estate investment trust’s stock valued at $20,194,000 after purchasing an additional 24,344 shares during the last quarter. IFP Advisors Inc boosted its position in W.P. Carey Inc. REIT by 6.7% in the 4th quarter. IFP Advisors Inc now owns 48,185 shares of the real estate investment trust’s stock valued at $3,320,000 after buying an additional 3,046 shares during the period. Griffin Asset Management Inc. purchased a new position in W.P. Carey Inc. REIT in the 3rd quarter valued at approximately $602,000. JPMorgan Chase & Co. boosted its position in W.P. Carey Inc. REIT by 37.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 394,251 shares of the real estate investment trust’s stock valued at $27,026,000 after buying an additional 106,410 shares during the period. Finally, California Public Employees Retirement System boosted its position in W.P. Carey Inc. REIT by 10.4% in the 3rd quarter. California Public Employees Retirement System now owns 184,644 shares of the real estate investment trust’s stock valued at $12,443,000 after buying an additional 17,444 shares during the period. 48.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of W.P. Carey Inc. REIT (NYSE:WPC) traded down $0.30 during midday trading on Tuesday, hitting $60.80. 46,622 shares of the company’s stock traded hands, compared to its average volume of 385,575. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $6,537.52, a P/E ratio of 26.49, a PEG ratio of 3.32 and a beta of 0.81. W.P. Carey Inc. REIT has a 12 month low of $59.23 and a 12 month high of $72.41.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a dividend of $1.01 per share. This is an increase from W.P. Carey Inc. REIT’s previous quarterly dividend of $1.01. The ex-dividend date was Thursday, December 28th. This represents a $4.04 annualized dividend and a dividend yield of 6.64%. W.P. Carey Inc. REIT’s dividend payout ratio is presently 175.65%.
Several research firms have recently issued reports on WPC. Ladenburg Thalmann Financial Services reaffirmed a “hold” rating on shares of W.P. Carey Inc. REIT in a research report on Friday, November 10th. Evercore ISI cut shares of W.P. Carey Inc. REIT from an “in-line” rating to an “underperform” rating in a research report on Monday, December 11th. Robert W. Baird assumed coverage on shares of W.P. Carey Inc. REIT in a research note on Wednesday, October 18th. They issued an “outperform” rating and a $77.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of W.P. Carey Inc. REIT from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $70.00.
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W.P. Carey Inc. REIT 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.
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