Stony Point Wealth Management Inc. raised its position in WP Carey Inc (NYSE:WPC) by 5.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,345 shares of the real estate investment trust’s stock after buying an additional 1,965 shares during the period. WP Carey comprises 2.0% of Stony Point Wealth Management Inc.’s investment portfolio, making the stock its 13th biggest position. Stony Point Wealth Management Inc.’s holdings in WP Carey were worth $2,595,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Resource America Inc. increased its stake in shares of WP Carey by 95.7% during the second quarter. Resource America Inc. now owns 49,314 shares of the real estate investment trust’s stock worth $3,272,000 after purchasing an additional 24,117 shares in the last quarter. First Trust Advisors LP boosted its position in WP Carey by 140.3% during the second quarter. First Trust Advisors LP now owns 50,434 shares of the real estate investment trust’s stock worth $3,346,000 after acquiring an additional 29,448 shares during the last quarter. Zacks Investment Management boosted its position in WP Carey by 7.9% during the second quarter. Zacks Investment Management now owns 55,047 shares of the real estate investment trust’s stock worth $3,652,000 after acquiring an additional 4,036 shares during the last quarter. HRT Financial LLC acquired a new position in WP Carey during the second quarter worth about $372,000. Finally, Bank of Hawaii acquired a new position in WP Carey during the second quarter worth about $245,000. 48.80% of the stock is owned by institutional investors.
WPC traded up $0.43 on Friday, reaching $65.19. 15,520 shares of the company’s stock were exchanged, compared to its average volume of 520,789. The firm has a market capitalization of $6.94 billion, a PE ratio of 12.27 and a beta of 0.66. WP Carey Inc has a twelve month low of $59.23 and a twelve month high of $72.41. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 1.21.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, October 1st were issued a $1.025 dividend. This represents a $4.10 annualized dividend and a yield of 6.29%. This is a positive change from WP Carey’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Friday, September 28th. WP Carey’s payout ratio is presently 77.36%.
A number of research firms recently weighed in on WPC. Zacks Investment Research lowered shares of WP Carey from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. ValuEngine lowered shares of WP Carey from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Finally, Bank of America boosted their price target on shares of WP Carey from $59.00 to $66.25 and gave the stock an “underperform” rating in a research report on Monday, August 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. WP Carey currently has an average rating of “Hold” and a consensus target price of $70.08.
WP Carey Profile
W.P. Carey, Inc is a real estate investment trust. It operates through two segment: Real Estate Ownership and Investment Management. The Real Estate Ownership segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for the real estate investment trusts, and manages portfolios of real estate investments.
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