Pin Oak Investment Advisors Inc. purchased a new stake in W.P. Carey Inc. REIT (NYSE:WPC) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,736 shares of the real estate investment trust’s stock, valued at approximately $120,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Stony Point Wealth Management Inc. purchased a new stake in W.P. Carey Inc. REIT in the 4th quarter valued at $2,330,000. WealthPLAN Partners LLC raised its position in W.P. Carey Inc. REIT by 18.9% in the 4th quarter. WealthPLAN Partners LLC now owns 41,980 shares of the real estate investment trust’s stock valued at $2,892,000 after purchasing an additional 6,667 shares during the last quarter. Sterling Capital Management LLC purchased a new stake in W.P. Carey Inc. REIT in the 4th quarter valued at $2,395,000. BB&T Investment Services Inc. raised its position in W.P. Carey Inc. REIT by 49.1% in the 4th quarter. BB&T Investment Services Inc. now owns 15,784 shares of the real estate investment trust’s stock valued at $1,088,000 after purchasing an additional 5,201 shares during the last quarter. Finally, Eii Capital Management Inc. purchased a new stake in W.P. Carey Inc. REIT in the 4th quarter valued at $986,000. Hedge funds and other institutional investors own 50.32% of the company’s stock.
WPC stock opened at $60.59 on Friday. The company has a market cap of $6,542.03, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 3.83 and a beta of 0.85. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.34 and a current ratio of 0.34. 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 will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be given a dividend of $1.015 per share. The ex-dividend date is Wednesday, March 28th. This represents a $4.06 dividend on an annualized basis and a yield of 6.70%. This is an increase from W.P. Carey Inc. REIT’s previous quarterly dividend of $1.01. W.P. Carey Inc. REIT’s dividend payout ratio is presently 158.43%.
Several analysts recently commented on WPC shares. ValuEngine downgraded shares of W.P. Carey Inc. REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. Evercore ISI downgraded shares of W.P. Carey Inc. REIT from an “in-line” rating to an “underperform” rating in a research report on Monday, December 11th. Capital One Financial restated an “equal weight” rating on shares of W.P. Carey Inc. REIT in a research report on Sunday, February 25th. Finally, Zacks Investment Research upgraded shares of W.P. Carey Inc. REIT from a “sell” rating to a “hold” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $70.00.
In other news, Director Peter Farrell acquired 2,035 shares of the business’s stock in a transaction on Monday, March 12th. The stock was bought at an average price of $61.88 per share, for a total transaction of $125,925.80. Following the transaction, the director now owns 4,378 shares in the company, valued at $270,910.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christopher Niehaus purchased 4,000 shares of the business’s stock in a transaction dated Friday, March 16th. The stock was bought at an average price of $62.28 per share, with a total value of $249,120.00. Following the acquisition, the director now directly owns 5,188 shares in the company, valued at $323,108.64. The disclosure for this purchase can be found here. 1.32% of the stock is currently owned by corporate insiders.
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W.P. Carey Inc. REIT Company 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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