Investmark Advisory Group LLC Takes Position in W.P. Carey Inc. $WPC

Investmark Advisory Group LLC bought a new position in shares of W.P. Carey Inc. (NYSE:WPC) in the second quarter, HoldingsChannel reports. The institutional investor bought 36,479 shares of the real estate investment trust’s stock, valued at approximately $2,608,000. W.P. Carey makes up about 1.0% of Investmark Advisory Group LLC’s holdings, making the stock its 23rd biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new position in W.P. Carey in the 4th quarter valued at about $25,000. Commonwealth Retirement Investments LLC acquired a new stake in W.P. Carey during the fourth quarter worth approximately $26,000. Osbon Capital Management LLC acquired a new stake in W.P. Carey during the fourth quarter worth approximately $29,000. Headlands Technologies LLC acquired a new stake in W.P. Carey during the second quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of W.P. Carey during the third quarter worth approximately $33,000. Institutional investors own 73.73% of the company’s stock.

W.P. Carey Stock Performance

NYSE WPC opened at $71.09 on Wednesday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $16.20 billion, a P/E ratio of 24.26, a P/E/G ratio of 3.57 and a beta of 0.75. W.P. Carey Inc. has a 12-month low of $63.08 and a 12-month high of $77.22. The firm has a 50-day moving average price of $72.97 and a two-hundred day moving average price of $72.50.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Tuesday, June 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s dividend payout ratio is currently 128.33%.

Analyst Upgrades and Downgrades

WPC has been the topic of several research reports. Scotiabank upped their target price on W.P. Carey from $76.00 to $77.00 and gave the company a “sector perform” rating in a research report on Thursday, August 13th. BNP Paribas Exane raised W.P. Carey from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $73.00 to $88.00 in a report on Wednesday, July 29th. UBS Group restated a “neutral” rating on shares of W.P. Carey in a research note on Wednesday, July 29th. BMO Capital Markets decreased their price objective on W.P. Carey from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, June 18th. Finally, Bank of America upgraded W.P. Carey from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $73.00 to $83.00 in a research report on Tuesday, June 16th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $79.38.

W.P. Carey Profile

W. P. Carey Inc is a diversified net-lease real estate investment trust specializing in single-tenant commercial properties. The company structures sale-leaseback and build-to-suit transactions to provide long-term net lease financing across a variety of asset classes, including industrial facilities, office buildings, retail centers and self-storage facilities. By employing triple net leases, W. P. Carey transfers property operating expenses, taxes and maintenance responsibility to tenants, creating a stable, predictable income stream for investors.

Founded in 1973 by William Polk Carey, the firm has expanded organically and through strategic mergers and acquisitions.