Continental Investors Services Inc. Takes Position in W. P. Carey Inc. (NYSE:WPC)

Continental Investors Services Inc. bought a new position in W. P. Carey Inc. (NYSE:WPC – Get Rating) in the third quarter, Holdings Channel reports. The institutional investor bought 2,944 shares of the real estate investment trust’s stock, valued at approximately $246,000.

A number of other hedge funds also recently bought and sold shares of WPC. Core Wealth Advisors Inc. lifted its position in W. P. Carey by 66.7% in the third quarter. Core Wealth Advisors Inc. now owns 375 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 150 shares during the last quarter. Fairfield Bush & CO. purchased a new position in shares of W. P. Carey during the first quarter valued at approximately $26,000. Acadian Asset Management LLC purchased a new position in shares of W. P. Carey during the first quarter valued at approximately $26,000. SJS Investment Consulting Inc. purchased a new position in shares of W. P. Carey during the third quarter valued at approximately $33,000. Finally, Avondale Wealth Management purchased a new position in shares of W. P. Carey during the third quarter valued at approximately $34,000. Institutional investors own 62.73% of the company’s stock.

W. P. Carey Price Performance

Shares of WPC stock opened at $78.60 on Friday. The stock has a market cap of $16.55 billion, a price-to-earnings ratio of 26.29, a PEG ratio of 11.47 and a beta of 0.77. The business’s fifty day moving average is $82.51 and its 200 day moving average is $79.64. W. P. Carey Inc. has a twelve month low of $67.76 and a twelve month high of $89.63. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.87.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be issued a $1.067 dividend. This represents a $4.27 annualized dividend and a yield of 5.43%. This is an increase from W. P. Carey’s previous quarterly dividend of $1.07. The ex-dividend date is Thursday, March 30th. W. P. Carey’s payout ratio is 142.47%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WPC. Raymond James boosted their target price on W. P. Carey from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, December 19th. StockNews.com began coverage on W. P. Carey in a research note on Thursday. They set a “hold” rating on the stock. Royal Bank of Canada boosted their target price on W. P. Carey from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, February 13th. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of W. P. Carey in a research note on Monday, December 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.80.

About W. P. Carey

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W.P. Carey, Inc is an investment trust company, which engages in the commercial real estate business. It operates through the Real Estate and Investment Management segments. The Real Estate segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for real estate investment trusts, and manages portfolios of real estate investments.