OMERS ADMINISTRATION Corp Buys Shares of 11,383 W.P. Carey Inc. $WPC

OMERS ADMINISTRATION Corp bought a new stake in shares of W.P. Carey Inc. (NYSE:WPC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,383 shares of the real estate investment trust’s stock, valued at approximately $814,000.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Bank of America upgraded W.P. Carey from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $73.00 to $83.00 in a research note on Tuesday, June 16th. Scotiabank boosted their price objective on W.P. Carey from $76.00 to $77.00 and gave the company a “sector perform” rating in a research note on Thursday, August 13th. BNP Paribas Exane raised shares of W.P. Carey from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $73.00 to $88.00 in a report on Wednesday, July 29th. Weiss Ratings upgraded shares of W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Finally, Wolfe Research upgraded shares of W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Monday, June 8th. Seven 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $79.38.

W.P. Carey Stock Performance

W.P. Carey stock opened at $70.42 on Friday. The firm’s 50 day simple moving average is $72.51 and its 200 day simple moving average is $72.58. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $16.04 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 3.55 and a beta of 0.75. W.P. Carey Inc. has a 1-year low of $63.08 and a 1-year high of $77.22.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.3%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. The ex-dividend date was Tuesday, June 30th. W.P. Carey’s dividend payout ratio (DPR) is 128.33%.

W.P. Carey Company 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.