W.P. Carey Inc. $WPC Shares Acquired by Tectonic Advisors LLC

Tectonic Advisors LLC grew its holdings in W.P. Carey Inc. (NYSE:WPC) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,971 shares of the real estate investment trust’s stock after acquiring an additional 15,315 shares during the period. Tectonic Advisors LLC owned about 0.09% of W.P. Carey worth $13,506,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in WPC. GoalVest Advisory LLC raised its holdings in shares of W.P. Carey by 102.3% in the third quarter. GoalVest Advisory LLC now owns 449 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 227 shares during the period. Farmers & Merchants Investments Inc. raised its holdings in shares of W.P. Carey by 150.0% in the third quarter. Farmers & Merchants Investments Inc. now owns 475 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 285 shares in the last quarter. Osbon Capital Management LLC purchased a new stake in shares of W.P. Carey in the 2nd quarter worth approximately $32,000. Avalon Trust Co purchased a new stake in W.P. Carey during the second quarter worth $36,000. Finally, Frazier Financial Advisors LLC bought a new stake in W.P. Carey during the first quarter valued at about $40,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

WPC has been the subject of several analyst reports. Royal Bank Of Canada increased their price objective on W.P. Carey from $73.00 to $77.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Scotiabank reduced their target price on shares of W.P. Carey from $76.00 to $68.00 and set a “sector perform” rating for the company in a report on Thursday, September 24th. Weiss Ratings lowered W.P. Carey from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday. Citigroup restated a “market perform” rating on shares of W.P. Carey in a research note on Friday, September 25th. Finally, Wells Fargo & Company reduced their price objective on shares of W.P. Carey from $80.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $77.36.

W.P. Carey Trading Down 0.9%

Shares of WPC traded down $0.61 during trading on Friday, reaching $63.93. 1,838,068 shares of the company traded hands, compared to its average volume of 1,641,998. W.P. Carey Inc. has a twelve month low of $62.24 and a twelve month high of $77.22. The stock has a market cap of $14.56 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 3.26 and a beta of 0.75. The stock has a 50-day simple moving average of $67.29 and a 200-day simple moving average of $71.13. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 5.9%. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.94. The ex-dividend date was Wednesday, September 30th. W.P. Carey’s payout ratio is currently 129.69%.

W.P. Carey Profile

W.P. Carey Inc (NYSE: WPC) is a real estate investment trust specializing in the ownership and management of commercial properties under long-term, net lease agreements. In a net lease arrangement, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate rental income with relatively predictable operating expenses.

The company’s portfolio is diversified across industrial, warehouse, retail, self-storage and other commercial properties.