Gateway Wealth Partners LLC Takes $1.75 Million Position in W.P. Carey Inc. $WPC

Gateway Wealth Partners LLC acquired a new stake in W.P. Carey Inc. (NYSE:WPC) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 25,676 shares of the real estate investment trust’s stock, valued at approximately $1,745,000.

A number of other large investors have also recently bought and sold shares of WPC. Jacobi Capital Management LLC increased its position in W.P. Carey by 2.5% during the fourth quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust’s stock worth $379,000 after buying an additional 145 shares during the last quarter. Kestra Private Wealth Services LLC raised its holdings in 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 valued at $1,459,000 after buying an additional 146 shares in the last quarter. Gen Wealth Partners Inc lifted its position 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 worth $487,000 after buying an additional 146 shares during the last quarter. Turning Point Benefit Group Inc. lifted its position 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 worth $162,000 after buying an additional 148 shares during the last quarter. Finally, Brookwood Investment Group LLC boosted its stake in shares of W.P. Carey by 1.7% during the 4th quarter. Brookwood Investment Group LLC now owns 8,936 shares of the real estate investment trust’s stock worth $575,000 after acquiring an additional 149 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

W.P. Carey Trading Down 0.6%

Shares of NYSE:WPC opened at $75.77 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.35 and a current ratio of 0.35. The stock’s 50-day moving average is $73.66 and its 200-day moving average is $72.13. The company has a market cap of $16.88 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.94 and a beta of 0.76. W.P. Carey Inc. has a 52-week low of $63.08 and a 52-week high of $77.22.

W.P. Carey (NYSE:WPC) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $1.34 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.63. W.P. Carey had a return on equity of 6.29% and a net margin of 29.35%.The firm had revenue of $461.06 million during the quarter, compared to the consensus estimate of $452.80 million. During the same quarter in the prior year, the company earned $1.28 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts predict that W.P. Carey Inc. will post 5.06 earnings per share for the current year.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.0%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. The ex-dividend date was Tuesday, June 30th. W.P. Carey’s dividend payout ratio is presently 160.68%.

Wall Street Analyst Weigh In

WPC has been the topic of a number of analyst reports. BMO Capital Markets lowered their price objective on W.P. Carey from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, June 18th. Barclays boosted their target price on W.P. Carey from $78.00 to $80.00 and gave the stock an “underweight” rating in a report on Wednesday, July 22nd. Bank of America raised 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 report on Tuesday, June 16th. Scotiabank lowered their price target on W.P. Carey from $79.00 to $76.00 and set a “sector perform” rating on the stock in a report on Thursday, June 18th. Finally, Weiss Ratings raised shares of W.P. Carey from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $78.00.

Insider Buying and Selling at W.P. Carey

In other news, CAO Brian H. Zander sold 433 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $74.00, for a total value of $32,042.00. Following the completion of the sale, the chief accounting officer directly owned 13,882 shares of the company’s stock, valued at approximately $1,027,268. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

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.