45,359 Shares in WP Carey Inc (WPC) Purchased by Cozad Asset Management Inc.
Cozad Asset Management Inc. acquired a new stake in shares of WP Carey Inc (NYSE:WPC) during the second quarter, according to its most recent filing with the SEC. The fund acquired 45,359 shares of the real estate investment trust’s stock, valued at approximately $3,010,000. WP Carey accounts for approximately 0.9% of Cozad Asset Management Inc.’s investment portfolio, making the stock its 26th biggest holding.
Other large investors also recently added to or reduced their stakes in the company. Resource America Inc. increased its stake in WP Carey by 95.7% in the 2nd quarter. Resource America Inc. now owns 49,314 shares of the real estate investment trust’s stock worth $3,272,000 after acquiring an additional 24,117 shares during the last quarter. Dean Capital Investments Management LLC bought a new position in WP Carey in the 2nd quarter worth about $561,000. Bank of Hawaii bought a new position in WP Carey in the 2nd quarter worth about $245,000. First Trust Advisors LP increased its stake in WP Carey by 140.3% in the 2nd quarter. First Trust Advisors LP now owns 50,434 shares of the real estate investment trust’s stock worth $3,346,000 after acquiring an additional 29,448 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in WP Carey by 6.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 495,042 shares of the real estate investment trust’s stock worth $30,688,000 after acquiring an additional 31,453 shares during the last quarter. Institutional investors own 48.85% of the company’s stock.
Shares of WP Carey stock opened at $65.60 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.19 and a current ratio of 0.19. The stock has a market cap of $7.01 billion, a PE ratio of 12.38, a PEG ratio of 3.24 and a beta of 0.65. WP Carey Inc has a 12 month low of $59.23 and a 12 month high of $72.41.
WPC has been the topic of a number of research analyst reports. Zacks Investment Research lowered WP Carey from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Bank of America upped their target price on WP Carey from $59.00 to $66.25 and gave the stock an “underperform” rating in a research note on Monday, August 13th. Finally, Wells Fargo & Co upped their target price on WP Carey from $65.00 to $69.00 and gave the stock a “market perform” rating in a research note on Thursday, June 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $71.81.
WP Carey Company Profile
Celebrating its 45th anniversary, W. P. Carey ranks among the largest diversified net lease REITs with an enterprise value of over $11 billion and a portfolio of operationally-critical commercial real estate totaling 878 properties covering approximately 87 million square feet. For over four decades the Company has invested in high-quality single-tenant industrial, warehouse, office and retail properties subject to long-term leases with built-in rent escalators.
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