W.P. Carey Inc. $WPC Stock Position Lifted by Tectonic Advisors LLC

Tectonic Advisors LLC increased its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 7.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 208,971 shares of the real estate investment trust’s stock after purchasing an additional 15,315 shares during the period. Tectonic Advisors LLC’s holdings in W.P. Carey were worth $13,506,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WPC. Farmers & Merchants Investments Inc. increased its position in shares of W.P. Carey by 150.0% during the third quarter. Farmers & Merchants Investments Inc. now owns 475 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 285 shares during the period. Capital Investment Advisors LLC boosted its holdings in W.P. Carey by 24.4% in the third quarter. Capital Investment Advisors LLC now owns 4,605 shares of the real estate investment trust’s stock valued at $298,000 after purchasing an additional 904 shares during the period. Inspire Investing LLC boosted its holdings in W.P. Carey by 13.1% in the third quarter. Inspire Investing LLC now owns 48,438 shares of the real estate investment trust’s stock valued at $3,131,000 after purchasing an additional 5,627 shares during the period. XXI Wealth LLC acquired a new position in W.P. Carey during the 3rd quarter worth $212,000. Finally, Demars Financial Group LLC grew its stake in W.P. Carey by 22.9% during the 3rd quarter. Demars Financial Group LLC now owns 28,590 shares of the real estate investment trust’s stock worth $1,848,000 after purchasing an additional 5,331 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on WPC shares. BNP Paribas Exane upgraded W.P. Carey from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $73.00 to $88.00 in a report on Wednesday, July 29th. Jefferies Financial Group began coverage on W.P. Carey in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $73.00 price objective for the company. Wells Fargo & Company lowered their price objective on W.P. Carey from $80.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday. Citigroup restated a “market perform” rating on shares of W.P. Carey in a research note on Friday, September 25th. Finally, Benchmark began coverage on shares of W.P. Carey in a report on Tuesday, September 22nd. They issued a “buy” rating on the stock. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $77.36.

W.P. Carey Stock Down 0.9%

Shares of WPC stock traded down $0.61 on Friday, reaching $63.93. 1,838,068 shares of the stock were exchanged, compared to its average volume of 1,641,998. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average price is $67.29 and its 200 day moving average price is $71.13. The company has a market capitalization of $14.56 billion, a price-to-earnings ratio of 21.82, a PEG ratio of 3.26 and a beta of 0.75. W.P. Carey Inc. has a twelve month low of $62.24 and a twelve month high of $77.22.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $0.95 dividend. This is a boost 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 5.9%. The ex-dividend date was Wednesday, September 30th. W.P. Carey’s payout ratio is 129.69%.

About W.P. Carey

W.P. Carey Inc (NYSE: WPC) is a real estate investment trust specializing in the ownership and management of commercial properties under long-term, net lease agreements. In a net lease arrangement, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate rental income with relatively predictable operating expenses.

The company’s portfolio is diversified across industrial, warehouse, retail, self-storage and other commercial properties.