Sterling Capital Management LLC Takes Position in W.P. Carey Inc. REIT (WPC)

Sterling Capital Management LLC bought a new stake in W.P. Carey Inc. REIT (NYSE:WPC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 34,759 shares of the real estate investment trust’s stock, valued at approximately $2,395,000.

Other large investors have also recently bought and sold shares of the company. Berkshire Asset Management LLC PA raised its stake in shares of W.P. Carey Inc. REIT by 9.1% in the fourth 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 acquiring an additional 24,344 shares during the last quarter. IFP Advisors Inc raised 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 worth $3,320,000 after purchasing an additional 3,046 shares during the last quarter. Northstar Investment Advisors LLC raised its position in W.P. Carey Inc. REIT by 2.9% in the 4th quarter. Northstar Investment Advisors LLC now owns 137,467 shares of the real estate investment trust’s stock worth $9,471,000 after purchasing an additional 3,914 shares during the last quarter. Krueger & Catalano Capital Partners LLC bought a new position in W.P. Carey Inc. REIT in the 4th quarter worth approximately $639,000. Finally, Griffin Asset Management Inc. bought a new position in W.P. Carey Inc. REIT in the 3rd quarter worth approximately $602,000. Institutional investors own 50.32% of the company’s stock.

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W.P. Carey Inc. REIT stock opened at $60.59 on Friday. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 1.19. W.P. Carey Inc. REIT has a 1 year low of $59.23 and a 1 year high of $72.41. The firm has a market cap of $6,478.95, a P/E ratio of 11.41, a P/E/G ratio of 3.79 and a beta of 0.85.

W.P. Carey Inc. REIT (NYSE:WPC) last posted its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.06. W.P. Carey Inc. REIT had a net margin of 36.17% and a return on equity of 8.05%. The firm had revenue of $196.96 million during the quarter, compared to analysts’ expectations of $210.92 million. During the same quarter in the previous year, the company posted $1.05 EPS. W.P. Carey Inc. REIT’s revenue was down 13.9% on a year-over-year basis. analysts expect that W.P. Carey Inc. REIT will post 4.87 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 29th will be issued a dividend of $1.015 per share. This represents a $4.06 dividend on an annualized basis and a yield of 6.70%. The ex-dividend date is Wednesday, March 28th. This is a positive change from W.P. Carey Inc. REIT’s previous quarterly dividend of $1.01. W.P. Carey Inc. REIT’s payout ratio is currently 158.43%.

In other W.P. Carey Inc. REIT news, Director Christopher Niehaus bought 4,000 shares of the stock in a transaction on Friday, March 16th. The stock was purchased at an average price of $62.28 per share, with a total value of $249,120.00. Following the acquisition, the director now owns 5,188 shares of the company’s stock, valued at $323,108.64. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Peter Farrell bought 2,035 shares of the stock in a transaction on Monday, March 12th. The shares were acquired at an average cost of $61.88 per share, with a total value of $125,925.80. Following the acquisition, the director now directly owns 4,378 shares in the company, valued at approximately $270,910.64. The disclosure for this purchase can be found here. 1.32% of the stock is currently owned by insiders.

Several research analysts recently weighed in on WPC shares. ValuEngine cut 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 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. 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. Finally, Capital One Financial restated an “equal weight” rating on shares of W.P. Carey Inc. REIT in a research report on Sunday, February 25th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $70.00.

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About W.P. Carey Inc. REIT

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 Inc. REIT (NYSE:WPC)

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