8,605 Shares of W.P. Carey Inc. $WPC Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC purchased a new position in W.P. Carey Inc. (NYSE:WPC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,605 shares of the real estate investment trust’s stock, valued at approximately $543,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC raised its holdings in W.P. Carey by 0.9% during the third quarter. Avior Wealth Management LLC now owns 110,425 shares of the real estate investment trust’s stock worth $7,137,000 after purchasing an additional 1,034 shares in the last quarter. Dupree Financial Group LLC lifted its stake in W.P. Carey by 3.6% in the third quarter. Dupree Financial Group LLC now owns 65,447 shares of the real estate investment trust’s stock valued at $4,230,000 after buying an additional 2,271 shares during the last quarter. Inspirion Wealth Advisors LLC grew its position in W.P. Carey by 0.9% during the 3rd quarter. Inspirion Wealth Advisors LLC now owns 22,644 shares of the real estate investment trust’s stock worth $1,464,000 after purchasing an additional 212 shares during the last quarter. Adams Asset Advisors LLC raised its holdings in shares of W.P. Carey by 5.9% in the third quarter. Adams Asset Advisors LLC now owns 96,247 shares of the real estate investment trust’s stock valued at $6,220,000 after buying an additional 5,365 shares during the last quarter. Finally, Apella Capital LLC increased its stake in shares of W.P. Carey by 3.2% during the third quarter. Apella Capital LLC now owns 7,813 shares of the real estate investment trust’s stock worth $490,000 after acquiring an additional 243 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W.P. Carey Price Performance

NYSE WPC traded up $0.66 on Friday, reaching $65.11. The company’s stock had a trading volume of 1,300,555 shares, compared to its average volume of 1,785,184. The firm has a market cap of $14.83 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 3.26 and a beta of 0.75. The business has a 50-day moving average price of $68.01 and a 200 day moving average price of $71.32. W.P. Carey Inc. has a 52 week low of $62.24 and a 52 week high of $77.22. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.95 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.94. This represents a $3.80 dividend on an annualized basis and a yield of 5.8%. W.P. Carey’s dividend payout ratio (DPR) is presently 129.69%.

Analyst Ratings Changes

WPC has been the topic of a number of recent analyst reports. Citigroup reaffirmed a “market perform” rating on shares of W.P. Carey in a research note on Friday, September 25th. Evercore set a $75.00 price target on shares of W.P. Carey in a report on Monday, September 21st. Jefferies Financial Group assumed coverage on shares of W.P. Carey in a research note on Tuesday, September 22nd. They set a “buy” rating and a $73.00 price objective for the company. Scotiabank decreased their price objective on shares of W.P. Carey from $76.00 to $68.00 and set a “sector perform” rating for the company in a research note on Thursday, September 24th. Finally, Weiss Ratings upgraded shares of W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 6th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $78.14.

About W.P. Carey

W.P. Carey Inc (NYSE: WPC) is a real estate investment trust that owns and manages a diversified portfolio of commercial properties. The company primarily invests in single-tenant, operationally critical properties that are leased to companies under long-term, net lease agreements. These arrangements generally require tenants to pay property taxes, insurance and maintenance costs, subject to the terms of each lease.

Its portfolio has historically included industrial, warehouse, retail, office and self-storage properties, with a focus on assets leased to established businesses across a range of industries.