WP Carey Inc (NYSE:WPC) Shares Acquired by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lifted its stake in shares of WP Carey Inc (NYSE:WPC) by 68.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,622 shares of the real estate investment trust’s stock after purchasing an additional 14,029 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in WP Carey were worth $2,772,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WPC. BlackRock Inc. grew its stake in shares of WP Carey by 2.3% during the 2nd quarter. BlackRock Inc. now owns 13,659,733 shares of the real estate investment trust’s stock worth $1,108,897,000 after purchasing an additional 309,781 shares during the period. First Trust Advisors LP boosted its position in shares of WP Carey by 54.7% in the 4th quarter. First Trust Advisors LP now owns 764,751 shares of the real estate investment trust’s stock worth $61,211,000 after buying an additional 270,288 shares in the last quarter. State Street Corp boosted its position in shares of WP Carey by 3.6% in the 3rd quarter. State Street Corp now owns 7,283,276 shares of the real estate investment trust’s stock worth $659,276,000 after buying an additional 251,476 shares in the last quarter. Unigestion Holding SA boosted its position in shares of WP Carey by 216.0% in the 3rd quarter. Unigestion Holding SA now owns 264,641 shares of the real estate investment trust’s stock worth $23,685,000 after buying an additional 180,900 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of WP Carey by 21.1% in the 4th quarter. Swiss National Bank now owns 930,573 shares of the real estate investment trust’s stock worth $74,483,000 after buying an additional 161,846 shares in the last quarter. 56.51% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently commented on WPC. Evercore ISI upgraded shares of WP Carey from an “underperform” rating to an “in-line” rating and set a $88.00 price objective on the stock in a research report on Monday, November 11th. BMO Capital Markets began coverage on shares of WP Carey in a research report on Friday, October 25th. They issued an “outperform” rating on the stock. Zacks Investment Research lowered shares of WP Carey from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Wells Fargo & Co upgraded shares of WP Carey from a “market perform” rating to an “outperform” rating and set a $92.00 price objective on the stock in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $84.50.

NYSE:WPC opened at $85.83 on Friday. The firm has a market cap of $14.79 billion, a price-to-earnings ratio of 36.37, a price-to-earnings-growth ratio of 4.32 and a beta of 0.39. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average is $82.84 and its two-hundred day moving average is $85.81. WP Carey Inc has a 12-month low of $72.51 and a 12-month high of $93.62.

In other news, Director Mark A. Alexander bought 2,300 shares of WP Carey stock in a transaction on Wednesday, December 11th. The shares were bought at an average cost of $80.50 per share, for a total transaction of $185,150.00. Following the acquisition, the director now owns 10,878 shares in the company, valued at $875,679. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.09% of the stock is currently owned by corporate insiders.

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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