Insight 2811 Inc. lessened its holdings in shares of WP Carey Inc (NYSE:WPC) by 15.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,477 shares of the real estate investment trust’s stock after selling 3,123 shares during the quarter. WP Carey makes up 1.0% of Insight 2811 Inc.’s portfolio, making the stock its 13th biggest position. Insight 2811 Inc.’s holdings in WP Carey were worth $1,291,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Valley National Advisers Inc. purchased a new position in WP Carey in the fourth quarter worth about $25,000. Karp Capital Management Corp bought a new position in shares of WP Carey in the fourth quarter worth about $26,000. Sage Capital Advisors llc bought a new position in shares of WP Carey in the fourth quarter worth about $26,000. Proficio Capital Partners LLC raised its stake in shares of WP Carey by 40.5% in the fourth quarter. Proficio Capital Partners LLC now owns 486 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 140 shares during the period. Finally, Executive Wealth Management LLC bought a new position in shares of WP Carey in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 53.90% of the company’s stock.
NYSE:WPC traded down $0.85 during trading hours on Monday, reaching $80.33. The stock had a trading volume of 1,317,454 shares, compared to its average volume of 936,495. The company’s 50 day moving average price is $83.20. WP Carey Inc has a 52 week low of $62.12 and a 52 week high of $86.41. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $13.67 billion, a PE ratio of 14.90, a PEG ratio of 5.65 and a beta of 0.47.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $1.034 per share. The ex-dividend date is Thursday, June 27th. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. This represents a $4.14 dividend on an annualized basis and a yield of 5.15%. WP Carey’s payout ratio is 76.81%.
Several research analysts have recently commented on the company. Citigroup raised WP Carey from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $59.00 to $81.00 in a research note on Friday, June 7th. Zacks Investment Research raised WP Carey from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Mitsubishi UFJ Financial Group decreased their target price on WP Carey to $77.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 8th. Evercore ISI downgraded WP Carey from an “in-line” rating to an “underperform” rating in a research note on Monday, April 1st. They noted that the move was a valuation call. Finally, Capital One Financial reissued an “equal weight” rating on shares of WP Carey in a research note on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. WP Carey currently has an average rating of “Hold” and an average target price of $74.45.
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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