SRS Capital Advisors Inc. Takes $858,000 Position in WP Carey Inc (WPC)

SRS Capital Advisors Inc. purchased a new position in WP Carey Inc (NYSE:WPC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,342 shares of the real estate investment trust’s stock, valued at approximately $858,000.

A number of other hedge funds have also made changes to their positions in the stock. Park Avenue Securities LLC lifted its stake in WP Carey by 28.2% in the third quarter. Park Avenue Securities LLC now owns 7,539 shares of the real estate investment trust’s stock worth $480,000 after acquiring an additional 1,658 shares during the period. Virginia Retirement Systems ET AL raised its holdings in WP Carey by 2.4% in the third quarter. Virginia Retirement Systems ET AL now owns 107,500 shares of the real estate investment trust’s stock worth $6,913,000 after purchasing an additional 2,500 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in WP Carey by 6.1% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 88,100 shares of the real estate investment trust’s stock worth $5,666,000 after purchasing an additional 5,057 shares in the last quarter. Commerce Bank raised its holdings in WP Carey by 552.5% in the third quarter. Commerce Bank now owns 41,406 shares of the real estate investment trust’s stock worth $2,663,000 after purchasing an additional 35,060 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in WP Carey by 2.1% in the third quarter. Wells Fargo & Company MN now owns 514,051 shares of the real estate investment trust’s stock worth $33,059,000 after purchasing an additional 10,367 shares in the last quarter. 49.26% of the stock is owned by institutional investors.

In other WP Carey news, Director Jean Hoysradt acquired 2,300 shares of WP Carey stock in a transaction that occurred on Tuesday, November 6th. The stock was bought at an average cost of $64.73 per share, for a total transaction of $148,879.00. Following the acquisition, the director now owns 9,255 shares of the company’s stock, valued at $599,076.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.56% of the stock is currently owned by company insiders.

WPC has been the subject of several analyst reports. ValuEngine downgraded WP Carey from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Bank of America raised their price target on WP Carey from $59.00 to $66.25 and gave the company an “underperform” rating in a report on Monday, August 13th. Finally, Zacks Investment Research downgraded WP Carey from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. WP Carey has an average rating of “Hold” and an average price target of $70.08.

NYSE WPC opened at $65.05 on Friday. WP Carey Inc has a one year low of $59.23 and a one year high of $72.41. The stock has a market capitalization of $6.97 billion, a P/E ratio of 12.27 and a beta of 0.55. The company has a quick ratio of 0.19, a current ratio of 0.18 and a debt-to-equity ratio of 1.21.

WP Carey (NYSE:WPC) last released its quarterly earnings data on Friday, November 2nd. The real estate investment trust reported $1.48 EPS for the quarter, topping the consensus estimate of $1.40 by $0.08. WP Carey had a return on equity of 8.78% and a net margin of 39.03%. The company had revenue of $209.40 million during the quarter, compared to the consensus estimate of $215.47 million. During the same period last year, the company earned $0.74 EPS. WP Carey’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts expect that WP Carey Inc will post 5.26 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Monday, October 1st were issued a $1.025 dividend. This represents a $4.10 annualized dividend and a yield of 6.30%. This is an increase from WP Carey’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Friday, September 28th. WP Carey’s dividend payout ratio (DPR) is presently 77.36%.

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WP Carey Company Profile

Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of over $11 billion and a portfolio of operationally-critical commercial real estate totaling 878 properties covering approximately 87 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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Institutional Ownership by Quarter for WP Carey (NYSE:WPC)

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