B. Riley Wealth Advisors Inc. raised its position in W. P. Carey Inc. (NYSE:WPC – Get Rating) by 8.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,563 shares of the real estate investment trust’s stock after purchasing an additional 3,021 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in W. P. Carey were worth $2,623,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WPC. Core Wealth Advisors Inc. increased its position in shares of W. P. Carey by 66.7% during the third quarter. Core Wealth Advisors Inc. now owns 375 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 150 shares during the period. Fairfield Bush & CO. purchased a new position in shares of W. P. Carey during the first quarter worth approximately $26,000. Acadian Asset Management LLC purchased a new position in shares of W. P. Carey during the first quarter worth approximately $26,000. SJS Investment Consulting Inc. purchased a new position in shares of W. P. Carey during the third quarter worth approximately $33,000. Finally, Avondale Wealth Management purchased a new position in shares of W. P. Carey during the third quarter worth approximately $34,000. 62.73% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on WPC. Capital One Financial reaffirmed an “overweight” rating on shares of W. P. Carey in a research report on Monday, December 5th. Royal Bank of Canada increased their price objective on shares of W. P. Carey from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, February 13th. StockNews.com assumed coverage on shares of W. P. Carey in a research note on Thursday. They set a “hold” rating on the stock. Finally, Raymond James increased their price objective on shares of W. P. Carey from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, December 19th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.80.
W. P. Carey Price Performance
W. P. Carey Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be paid a $1.067 dividend. This represents a $4.27 annualized dividend and a yield of 5.50%. 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 dividend payout ratio (DPR) is 142.47%.
W. P. Carey Profile
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.
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