19,618 Shares in W.P. Carey Inc. $WPC Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC bought a new stake in shares of W.P. Carey Inc. (NYSE:WPC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 19,618 shares of the real estate investment trust’s stock, valued at approximately $1,403,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new position in shares of W.P. Carey during the 4th quarter worth approximately $25,000. Commonwealth Retirement Investments LLC acquired a new stake in shares of W.P. Carey during the 4th quarter worth about $26,000. Osbon Capital Management LLC purchased a new stake in shares of W.P. Carey in the 4th quarter valued at approximately $29,000. Headlands Technologies LLC acquired a new position in W.P. Carey during the second quarter worth $30,000. Finally, Wealth Watch Advisors INC purchased a new position in W.P. Carey during the 3rd quarter valued at about $33,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on WPC. Bank of America raised W.P. Carey from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $73.00 to $83.00 in a research report on Tuesday, June 16th. UBS Group reiterated a “neutral” rating on shares of W.P. Carey in a research note on Wednesday, July 29th. Royal Bank Of Canada boosted their price objective on W.P. Carey from $73.00 to $77.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Wells Fargo & Company raised their price target on W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Finally, BMO Capital Markets lowered their price objective on shares of W.P. Carey from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, June 18th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $79.38.

W.P. Carey Stock Performance

NYSE:WPC opened at $71.31 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. W.P. Carey Inc. has a twelve month low of $63.08 and a twelve month high of $77.22. The company has a market capitalization of $16.25 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 3.59 and a beta of 0.75. The firm has a 50-day moving average price of $72.71 and a two-hundred day moving average price of $72.53.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.3%. This is a positive change 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 presently 128.33%.

About W.P. Carey

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.