Inspirion Wealth Advisors LLC Sells 7,535 Shares of WP Carey Inc (NYSE:WPC)

Inspirion Wealth Advisors LLC cut its stake in WP Carey Inc (NYSE:WPC) by 7.9% in the 4th quarter, Holdings Channel reports. The firm owned 87,366 shares of the real estate investment trust’s stock after selling 7,535 shares during the period. WP Carey makes up about 2.4% of Inspirion Wealth Advisors LLC’s portfolio, making the stock its 12th biggest position. Inspirion Wealth Advisors LLC’s holdings in WP Carey were worth $6,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. California State Teachers Retirement System raised its holdings in WP Carey by 0.4% in the 3rd quarter. California State Teachers Retirement System now owns 300,494 shares of the real estate investment trust’s stock worth $26,894,000 after purchasing an additional 1,278 shares in the last quarter. Eaton Vance Management grew its position in shares of WP Carey by 1.8% in the 2nd quarter. Eaton Vance Management now owns 107,809 shares of the real estate investment trust’s stock worth $8,752,000 after buying an additional 1,920 shares during the period. Rhumbline Advisers grew its position in shares of WP Carey by 1.6% in the 3rd quarter. Rhumbline Advisers now owns 217,894 shares of the real estate investment trust’s stock worth $19,502,000 after buying an additional 3,415 shares during the period. Chesley Taft & Associates LLC purchased a new stake in shares of WP Carey in the 3rd quarter worth about $874,000. Finally, Voya Investment Management LLC grew its position in shares of WP Carey by 4.0% in the 3rd quarter. Voya Investment Management LLC now owns 31,192 shares of the real estate investment trust’s stock worth $2,791,000 after buying an additional 1,200 shares during the period. Institutional investors and hedge funds own 57.84% of the company’s stock.

In other news, Director Mark A. Alexander acquired 2,300 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were bought at an average cost of $80.50 per share, with a total value of $185,150.00. Following the transaction, the director now owns 10,878 shares of the company’s stock, valued at approximately $875,679. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.09% of the company’s stock.

A number of analysts have recently weighed in on WPC shares. Zacks Investment Research downgraded shares of WP Carey from a “hold” rating to a “sell” rating in a research report on Saturday. Evercore ISI raised shares of WP Carey from an “underperform” rating to an “in-line” rating and set a $88.00 target price on the stock in a research report on Monday, November 11th. Wells Fargo & Co raised shares of WP Carey from a “market perform” rating to an “outperform” rating and set a $92.00 target price on the stock in a research report on Tuesday, December 10th. Finally, BMO Capital Markets started coverage on shares of WP Carey in a research report on Friday, October 25th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. WP Carey currently has a consensus rating of “Hold” and a consensus price target of $84.50.

Shares of NYSE:WPC traded down $0.69 during midday trading on Tuesday, reaching $82.56. The company’s stock had a trading volume of 647,688 shares, compared to its average volume of 753,909. The firm has a 50 day moving average of $80.37 and a 200-day moving average of $85.70. The firm has a market capitalization of $14.34 billion, a P/E ratio of 15.32, a PEG ratio of 6.41 and a beta of 0.38. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.87. WP Carey Inc has a 12-month low of $68.33 and a 12-month high of $93.62.

WP Carey (NYSE:WPC) last released its earnings results on Friday, November 1st. The real estate investment trust reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.15 by ($0.91). WP Carey had a return on equity of 5.31% and a net margin of 30.89%. The business had revenue of $318.01 million during the quarter, compared to analysts’ expectations of $317.44 million. During the same period in the prior year, the company earned $0.70 earnings per share. The firm’s quarterly revenue was up 51.9% compared to the same quarter last year. On average, research analysts predict that WP Carey Inc will post 4.86 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $1.038 per share. This represents a $4.15 annualized dividend and a yield of 5.03%. This is an increase from WP Carey’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Monday, December 30th. WP Carey’s dividend payout ratio is 76.99%.

About WP Carey

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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Institutional Ownership by Quarter for WP Carey (NYSE:WPC)

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