Traders Sell WP Carey (WPC) on Strength (WPC)
Investors sold shares of WP Carey Inc (NYSE:WPC) on strength during trading on Thursday. $11.53 million flowed into the stock on the tick-up and $84.03 million flowed out of the stock on the tick-down, for a money net flow of $72.50 million out of the stock. Of all stocks tracked, WP Carey had the 19th highest net out-flow for the day. WP Carey traded up $0.27 for the day and closed at $77.00
WPC has been the topic of several research reports. ValuEngine lowered shares of WP Carey from a “buy” rating to a “hold” rating in a research report on Friday, December 28th. Zacks Investment Research raised shares of WP Carey from a “sell” rating to a “hold” rating in a research report on Saturday, March 2nd. JPMorgan Chase & Co. initiated coverage on shares of WP Carey in a research report on Wednesday, December 19th. They issued a “neutral” rating and a $73.00 price target on the stock. Finally, Capital One Financial reissued an “equal weight” rating on shares of WP Carey in a research report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. WP Carey has an average rating of “Hold” and a consensus target price of $70.81.
The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.92. The stock has a market cap of $12.75 billion, a PE ratio of 14.29 and a beta of 0.60.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Friday, March 29th will be given a $1.032 dividend. This represents a $4.13 annualized dividend and a dividend yield of 5.36%. This is a positive change from WP Carey’s previous quarterly dividend of $1.03. WP Carey’s payout ratio is 76.44%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Valley National Advisers Inc. bought a new stake in WP Carey during the 4th quarter worth approximately $25,000. Karp Capital Management Corp bought a new stake in WP Carey during the 4th quarter worth approximately $26,000. Sage Capital Advisors llc bought a new stake in WP Carey during the 4th quarter worth approximately $26,000. Proficio Capital Partners LLC increased its holdings in WP Carey by 40.5% during the 4th quarter. Proficio Capital Partners LLC now owns 486 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 140 shares during the period. Finally, Strategic Wealth Partners Ltd. increased its holdings in WP Carey by 53.3% during the 3rd quarter. Strategic Wealth Partners Ltd. now owns 512 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 178 shares during the period. 51.89% of the stock is currently owned by institutional investors.
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WP Carey Company Profile (NYSE:WPC)
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of approximately $17 billion and a portfolio of operationally-critical commercial real estate that includes 1,186 net lease properties covering approximately 133 million square feet.
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