Laraway Financial Advisors Inc Makes New $661,000 Investment in W.P. Carey Inc. $WPC

Laraway Financial Advisors Inc purchased a new position in shares of W.P. Carey Inc. (NYSE:WPC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 9,251 shares of the real estate investment trust’s stock, valued at approximately $661,000.

A number of other large investors have also made changes to their positions in the stock. Jacobi Capital Management LLC lifted its stake in shares of W.P. Carey by 2.5% in the fourth quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 145 shares during the period. Kestra Private Wealth Services LLC grew its position in W.P. Carey by 0.7% during the first quarter. Kestra Private Wealth Services LLC now owns 21,474 shares of the real estate investment trust’s stock worth $1,459,000 after buying an additional 146 shares during the period. Gen Wealth Partners Inc grew its position in W.P. Carey by 2.0% during the fourth quarter. Gen Wealth Partners Inc now owns 7,572 shares of the real estate investment trust’s stock worth $487,000 after buying an additional 146 shares during the period. Turning Point Benefit Group Inc. increased its holdings in W.P. Carey by 6.3% in the fourth quarter. Turning Point Benefit Group Inc. now owns 2,511 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 148 shares in the last quarter. Finally, Vanderbilt University increased its holdings in W.P. Carey by 1.1% in the first quarter. Vanderbilt University now owns 14,968 shares of the real estate investment trust’s stock valued at $1,017,000 after buying an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W.P. Carey Price Performance

Shares of NYSE WPC opened at $71.66 on Friday. 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 company’s 50-day moving average price is $73.10 and its 200 day moving average price is $72.43. W.P. Carey Inc. has a 52 week low of $63.08 and a 52 week high of $77.22. The stock has a market cap of $16.32 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 3.56 and a beta of 0.75.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 5.2%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, June 30th. W.P. Carey’s payout ratio is currently 128.33%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America upgraded shares of W.P. Carey from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $83.00 in a research report on Tuesday, June 16th. UBS Group restated a “neutral” rating on shares of W.P. Carey in a report on Wednesday, July 29th. Wolfe Research raised W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Monday, June 8th. BMO Capital Markets reduced 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. Finally, Citigroup reiterated a “market perform” rating on shares of W.P. Carey in a research report on Thursday, June 18th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently 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.