LifePlan Financial Group Inc bought a new stake in WP Carey Inc (NYSE:WPC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 786 shares of the real estate investment trust’s stock, valued at approximately $51,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sound Income Strategies LLC raised its holdings in shares of WP Carey by 842.1% in the fourth quarter. Sound Income Strategies LLC now owns 895 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 800 shares during the last quarter. State of Alaska Department of Revenue raised its holdings in shares of WP Carey by 53.4% in the fourth quarter. State of Alaska Department of Revenue now owns 69,208 shares of the real estate investment trust’s stock worth $4,521,000 after buying an additional 24,085 shares during the last quarter. Gulf International Bank UK Ltd purchased a new position in shares of WP Carey in the fourth quarter worth $2,454,000. Private Trust Co. NA raised its holdings in shares of WP Carey by 11.9% in the fourth quarter. Private Trust Co. NA now owns 9,617 shares of the real estate investment trust’s stock worth $628,000 after buying an additional 1,026 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in shares of WP Carey by 0.4% in the third quarter. Teachers Advisors LLC now owns 127,745 shares of the real estate investment trust’s stock worth $8,215,000 after buying an additional 510 shares during the last quarter. 32.33% of the stock is owned by institutional investors and hedge funds.
Shares of WP Carey stock opened at $68.82 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.18 and a quick ratio of 0.18. WP Carey Inc has a 1 year low of $59.23 and a 1 year high of $71.29. The firm has a market cap of $11.00 billion, a P/E ratio of 12.98 and a beta of 0.54.
WP Carey (NYSE:WPC) last issued its earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.08. WP Carey had a net margin of 39.03% and a return on equity of 8.78%. The firm had revenue of $209.40 million during the quarter, compared to analysts’ expectations of $215.47 million. During the same quarter last year, the company posted $0.74 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. As a group, equities analysts anticipate that WP Carey Inc will post 5.24 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 31st will be issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 5.99%. The ex-dividend date is Friday, December 28th. This is a boost from WP Carey’s previous quarterly dividend of $1.03. WP Carey’s dividend payout ratio (DPR) is 77.74%.
In other WP Carey news, Director Jean Hoysradt bought 2,300 shares of WP Carey stock in a transaction that occurred on Tuesday, November 6th. The stock was purchased at an average price of $64.73 per share, with a total value of $148,879.00. Following the completion of the acquisition, the director now directly owns 9,255 shares in the company, valued at approximately $599,076.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher Niehaus bought 3,850 shares of WP Carey stock in a transaction that occurred on Tuesday, November 13th. The shares were acquired at an average cost of $66.08 per share, with a total value of $254,408.00. The disclosure for this purchase can be found here. Company insiders own 1.56% of the company’s stock.
A number of research analysts have issued reports on WPC shares. ValuEngine cut shares of WP Carey from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Zacks Investment Research cut shares of WP Carey from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Finally, JPMorgan Chase & Co. started coverage on shares of WP Carey in a report on Wednesday, December 19th. They issued a “neutral” rating and a $73.00 price target for the company. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. WP Carey has a consensus rating of “Hold” and an average price target of $70.81.
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About WP Carey
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.
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