Strategic Wealth Partners Ltd. Acquires 178 Shares of WP Carey Inc (WPC)

Strategic Wealth Partners Ltd. increased its position in shares of WP Carey Inc (NYSE:WPC) by 53.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 512 shares of the real estate investment trust’s stock after purchasing an additional 178 shares during the period. Strategic Wealth Partners Ltd.’s holdings in WP Carey were worth $33,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WPC. Girard Partners LTD. purchased a new position in WP Carey during the third quarter worth about $113,000. Assetmark Inc. purchased a new position in WP Carey during the second quarter worth about $117,000. First Hawaiian Bank purchased a new position in WP Carey during the third quarter worth about $123,000. Belpointe Asset Management LLC purchased a new position in WP Carey during the third quarter worth about $193,000. Finally, Jane Street Group LLC purchased a new position in WP Carey during the third quarter worth about $203,000. 32.38% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Christopher Niehaus bought 3,850 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was bought at an average cost of $66.08 per share, with a total value of $254,408.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jean Hoysradt bought 2,300 shares of the company’s stock in a transaction on Tuesday, November 6th. The stock was bought at an average cost of $64.73 per share, with a total value of $148,879.00. Following the completion of the acquisition, the director now owns 9,255 shares of the company’s stock, valued at approximately $599,076.15. The disclosure for this purchase can be found here. Company insiders own 1.56% of the company’s stock.

Shares of WP Carey stock opened at $69.63 on Friday. WP Carey Inc has a 12-month low of $59.23 and a 12-month high of $71.29. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.18 and a quick ratio of 0.18. The stock has a market capitalization of $11.27 billion, a price-to-earnings ratio of 13.14 and a beta of 0.58.

WP Carey (NYSE:WPC) last issued its earnings results on Friday, November 2nd. The real estate investment trust reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.08. WP Carey had a net margin of 39.03% and a return on equity of 8.78%. The company had revenue of $209.40 million during the quarter, compared to analysts’ expectations of $215.47 million. During the same period last year, the company posted $0.74 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that WP Carey Inc will post 5.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 31st will be issued a $1.03 dividend. The ex-dividend date of this dividend is Friday, December 28th. This is a boost from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.12 dividend on an annualized basis and a yield of 5.92%. WP Carey’s dividend payout ratio (DPR) is 77.36%.

Several research analysts recently issued reports on WPC shares. ValuEngine cut shares of WP Carey from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Bank of America increased their price target on shares of WP Carey from $59.00 to $66.25 and gave the stock an “underperform” rating in a report on Monday, August 13th. Finally, Zacks Investment Research cut shares of WP Carey from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. WP Carey currently has a consensus rating of “Hold” and a consensus price target of $70.08.

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About WP Carey

Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.

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

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