WealthPLAN Partners LLC increased its position in W. P. Carey Inc. (NYSE:WPC) by 11.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,657 shares of the real estate investment trust’s stock after acquiring an additional 15,279 shares during the period. WealthPLAN Partners LLC’s holdings in W. P. Carey were worth $10,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of WPC. Hexagon Capital Partners LLC purchased a new position in W. P. Carey in the 3rd quarter worth $27,000. Manchester Financial Inc. purchased a new position in shares of W. P. Carey during the 4th quarter valued at about $28,000. North Star Investment Management Corp. purchased a new position in shares of W. P. Carey during the 4th quarter valued at about $35,000. Huntington National Bank raised its stake in shares of W. P. Carey by 122.2% during the 4th quarter. Huntington National Bank now owns 500 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 275 shares during the last quarter. Finally, Cowa LLC purchased a new position in shares of W. P. Carey during the 4th quarter valued at about $35,000. Institutional investors own 62.16% of the company’s stock.
Separately, Zacks Investment Research lowered W. P. Carey from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research note on Thursday, January 21st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $68.00.
W. P. Carey (NYSE:WPC) last released its quarterly earnings results on Thursday, February 11th. The real estate investment trust reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.15 by ($0.39). The firm had revenue of $307.40 million for the quarter, compared to analysts’ expectations of $297.15 million. W. P. Carey had a net margin of 28.17% and a return on equity of 4.98%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. As a group, equities research analysts expect that W. P. Carey Inc. will post 4.58 earnings per share for the current year.
W. P. Carey Profile
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.
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