Clarion Wealth Managment Partners LLC bought a new position in shares of W.P. Carey Inc. (NYSE:WPC – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,133 shares of the real estate investment trust’s stock, valued at approximately $1,297,000. W.P. Carey makes up 1.0% of Clarion Wealth Managment Partners LLC’s holdings, making the stock its 20th biggest position.
A number of other hedge funds also recently added to or reduced their stakes in the business. Jacobi Capital Management LLC boosted its position in W.P. Carey by 2.5% in the 4th quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust’s stock valued at $379,000 after buying an additional 145 shares during the period. Kestra Private Wealth Services LLC increased its position in shares of W.P. Carey by 0.7% during the first quarter. Kestra Private Wealth Services LLC now owns 21,474 shares of the real estate investment trust’s stock worth $1,459,000 after acquiring an additional 146 shares during the period. Gen Wealth Partners Inc raised its stake in shares of W.P. Carey by 2.0% in the fourth quarter. Gen Wealth Partners Inc now owns 7,572 shares of the real estate investment trust’s stock valued at $487,000 after acquiring an additional 146 shares in the last quarter. Turning Point Benefit Group Inc. raised its stake in shares of W.P. Carey by 6.3% in the fourth quarter. Turning Point Benefit Group Inc. now owns 2,511 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 148 shares in the last quarter. Finally, Vanderbilt University boosted its holdings in W.P. Carey by 1.1% in the first quarter. Vanderbilt University now owns 14,968 shares of the real estate investment trust’s stock valued at $1,017,000 after purchasing an additional 162 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.
W.P. Carey Stock Up 0.2%
Shares of NYSE WPC opened at $71.31 on Monday. The company has a market capitalization of $16.25 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 3.55 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22. The business has a 50-day moving average of $72.71 and a two-hundred day moving average of $72.55. W.P. Carey Inc. has a 1 year low of $63.08 and a 1 year high of $77.22.
W.P. Carey Increases Dividend
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the company. Scotiabank boosted their target price on W.P. Carey from $76.00 to $77.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. Citigroup reaffirmed a “market perform” rating on shares of W.P. Carey in a research report on Thursday, June 18th. UBS Group reiterated a “neutral” rating on shares of W.P. Carey in a research note on Wednesday, July 29th. BNP Paribas Exane raised W.P. Carey from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $73.00 to $88.00 in a research report on Wednesday, July 29th. Finally, Bank of America upgraded shares of W.P. Carey from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $73.00 to $83.00 in a research note on Tuesday, June 16th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.38.
Read Our Latest Stock Report on W.P. Carey
About W.P. Carey
W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.
Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.
Featured Articles
- Five stocks we like better than W.P. Carey
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding WPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W.P. Carey Inc. (NYSE:WPC – Free Report).
Receive News & Ratings for W.P. Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W.P. Carey and related companies with MarketBeat.com's FREE daily email newsletter.
