Korea Investment CORP purchased a new stake in WP Carey Inc (NYSE:WPC) during the 4th quarter, HoldingsChannel reports. The firm purchased 17,663 shares of the real estate investment trust’s stock, valued at approximately $1,154,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in WP Carey by 0.3% during the third quarter. Vanguard Group Inc. now owns 15,410,572 shares of the real estate investment trust’s stock worth $991,053,000 after acquiring an additional 44,898 shares during the last quarter. Vanguard Group Inc boosted its position in WP Carey by 0.3% during the third quarter. Vanguard Group Inc now owns 15,410,572 shares of the real estate investment trust’s stock worth $991,053,000 after acquiring an additional 44,898 shares during the last quarter. BlackRock Inc. boosted its position in WP Carey by 73.6% during the fourth quarter. BlackRock Inc. now owns 12,757,812 shares of the real estate investment trust’s stock worth $833,594,000 after acquiring an additional 5,409,609 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in WP Carey by 454.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,536,876 shares of the real estate investment trust’s stock worth $165,759,000 after acquiring an additional 2,079,698 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in WP Carey by 18.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,792,734 shares of the real estate investment trust’s stock worth $117,136,000 after acquiring an additional 280,310 shares during the last quarter. Institutional investors and hedge funds own 51.89% of the company’s stock.

NYSE:WPC opened at $77.14 on Friday. 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 company has a market cap of $12.81 billion, a price-to-earnings ratio of 14.31 and a beta of 0.60. WP Carey Inc has a fifty-two week low of $60.50 and a fifty-two week high of $77.43.

WP Carey (NYSE:WPC) last posted its quarterly earnings results on Friday, February 22nd. The real estate investment trust reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.03. The company had revenue of $273.40 million for the quarter, compared to the consensus estimate of $283.87 million. WP Carey had a net margin of 49.68% and a return on equity of 9.81%. WP Carey’s revenue was up 39.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.18 earnings per share. On average, equities analysts predict that WP Carey Inc will post 5 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a dividend of $1.032 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $4.13 dividend on an annualized basis and a yield of 5.35%. This is an increase from WP Carey’s previous quarterly dividend of $1.03. WP Carey’s dividend payout ratio (DPR) is currently 76.44%.

A number of brokerages recently issued reports on WPC. Zacks Investment Research lowered shares of WP Carey from a “hold” rating to a “sell” rating in a research report on Saturday, January 19th. ValuEngine upgraded shares of WP Carey from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. Capital One Financial restated an “equal weight” rating on shares of WP Carey in a research report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. began coverage on shares of WP Carey in a research report on Wednesday, December 19th. They set a “neutral” rating and a $73.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. WP Carey currently has an average rating of “Hold” and an average price target of $70.81.

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WP Carey Company Profile

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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Institutional Ownership by Quarter for WP Carey (NYSE:WPC)

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