Invst LLC Makes New Investment in W.P. Carey Inc. $WPC

Invst LLC bought a new position in W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 9,819 shares of the real estate investment trust’s stock, valued at approximately $702,000.

A number of other large investors have also recently modified their holdings of the stock. First Bancorp Inc ME purchased a new position in shares of W.P. Carey during the second quarter valued at about $141,000. Jupiter Topco LLC purchased a new stake in W.P. Carey in the second quarter worth about $1,191,000. Hsbc Holdings PLC purchased a new stake in W.P. Carey in the second quarter worth about $67,142,000. EFG International AG purchased a new stake in W.P. Carey in the second quarter worth about $808,000. Finally, Ancora Advisors LLC bought a new stake in W.P. Carey during the 2nd quarter valued at approximately $41,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WPC. Wells Fargo & Company upped their target price on W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Citigroup restated a “market perform” rating on shares of W.P. Carey in a research note on Thursday, June 18th. Weiss Ratings upgraded W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday. Barclays upped their price target on W.P. Carey from $78.00 to $80.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 22nd. Finally, BMO Capital Markets decreased their price objective on W.P. Carey from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $79.38.

W.P. Carey Stock Performance

Shares of WPC stock opened at $71.76 on Wednesday. The company has a market capitalization of $16.35 billion, a price-to-earnings ratio of 24.49, a price-to-earnings-growth ratio of 3.57 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.22 and a current ratio of 0.22. W.P. Carey Inc. has a one year low of $63.08 and a one year high of $77.22. The company’s 50-day moving average is $72.54 and its 200 day moving average is $72.58.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.94 per share. The ex-dividend date was Tuesday, June 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.2%. W.P. Carey’s dividend payout ratio is currently 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.