WP Carey Inc (WPC) Stake Boosted by WealthPLAN Partners LLC
WealthPLAN Partners LLC grew its holdings in WP Carey Inc (NYSE:WPC) by 34.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,285 shares of the real estate investment trust’s stock after purchasing an additional 14,305 shares during the period. WealthPLAN Partners LLC’s holdings in WP Carey were worth $3,489,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Pin Oak Investment Advisors Inc. acquired a new position in WP Carey during the 4th quarter worth about $120,000. Bruderman Asset Management LLC acquired a new position in WP Carey during the 1st quarter worth about $123,000. Centaurus Financial Inc. acquired a new position in WP Carey during the 1st quarter worth about $133,000. American International Group Inc. acquired a new position in WP Carey during the 4th quarter worth about $152,000. Finally, Neuburgh Advisers LLC acquired a new position in WP Carey during the 1st quarter worth about $143,000. 49.53% of the stock is currently owned by institutional investors and hedge funds.
WP Carey traded up $0.60, hitting $66.48, during trading hours on Thursday, according to MarketBeat Ratings. 2,528 shares of the company were exchanged, compared to its average volume of 371,827. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.33 and a quick ratio of 0.33. WP Carey Inc has a 52-week low of $59.23 and a 52-week high of $72.41. The company has a market cap of $7.14 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 3.85 and a beta of 0.74.
Several equities research analysts have weighed in on WPC shares. Zacks Investment Research upgraded WP Carey from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Tuesday, March 20th. Capital One Financial restated an “equal weight” rating on shares of WP Carey in a report on Sunday, February 25th. Finally, ValuEngine downgraded WP Carey from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $72.00.
In other WP Carey news, Director Christopher Niehaus purchased 4,000 shares of WP Carey stock in a transaction dated Friday, March 16th. The stock was acquired at an average cost of $62.28 per share, with a total value of $249,120.00. Following the acquisition, the director now directly owns 5,188 shares of the company’s stock, valued at $323,108.64. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Arjun Mahalingam sold 614 shares of the firm’s stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $66.56, for a total value of $40,867.84. Following the completion of the sale, the insider now directly owns 2,272 shares of the company’s stock, valued at $151,224.32. The disclosure for this sale can be found here. Corporate insiders own 1.56% of the company’s stock.
WP Carey Profile
Celebrating its 45th anniversary, W. P. Carey Inc is a leading internally-managed net lease REIT that provides long-term sale-leaseback and build-to-suit financing solutions primarily for companies in the U.S. and Europe. At December 31, 2017, the Company had an enterprise value of approximately $11.5 billion.
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