Sowell Financial Services LLC acquired a new position in shares of WP Carey Inc (NYSE:WPC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,283 shares of the real estate investment trust’s stock, valued at approximately $411,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valley National Advisers Inc. purchased a new position in WP Carey during the 4th quarter worth approximately $25,000. Karp Capital Management Corp purchased a new position in WP Carey during the 4th quarter worth approximately $26,000. Sage Capital Advisors llc purchased a new position in WP Carey during the 4th quarter worth approximately $26,000. Proficio Capital Partners LLC grew its position in WP Carey by 40.5% during the 4th quarter. Proficio Capital Partners LLC now owns 486 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Finally, Strategic Wealth Partners Ltd. grew its position in WP Carey by 53.3% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 512 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 51.12% of the company’s stock.
WPC has been the topic of several research analyst reports. ValuEngine cut shares of WP Carey from a “buy” rating to a “hold” rating in a research report on Friday, December 28th. Zacks Investment Research upgraded shares of WP Carey from a “sell” rating to a “hold” rating in a research report on Saturday, March 2nd. Mitsubishi UFJ Financial Group initiated coverage on shares of WP Carey in a research report on Tuesday, March 26th. They set a “neutral” rating and a $78.00 price objective on the stock. Finally, JPMorgan Chase & Co. initiated coverage on shares of WP Carey in a research report on Wednesday, December 19th. They set a “neutral” rating and a $73.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $72.25.
WP Carey (NYSE:WPC) last issued its earnings results on Friday, February 22nd. The real estate investment trust reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.03. The company had revenue of $273.40 million during the quarter, compared to analyst estimates of $283.87 million. WP Carey had a net margin of 49.68% and a return on equity of 9.81%. The company’s revenue for the quarter was up 39.0% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. Equities analysts forecast that WP Carey Inc will post 4.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a dividend of $1.032 per share. The ex-dividend date is Thursday, March 28th. This represents a $4.13 dividend on an annualized basis and a dividend yield of 5.30%. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. WP Carey’s dividend payout ratio (DPR) is 76.62%.
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WP Carey Profile
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $17 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,163 net lease properties covering approximately 131 million square feet. For over four decades, the company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators.
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