Sanctuary Advisors LLC Acquires New Stake in W.P. Carey Inc. $WPC

Sanctuary Advisors LLC acquired a new stake in W.P. Carey Inc. (NYSE:WPC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 33,649 shares of the real estate investment trust’s stock, valued at approximately $2,406,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPC. Laurel Wealth Advisors LLC bought a new stake in shares of W.P. Carey during the fourth quarter worth $25,000. Commonwealth Retirement Investments LLC bought a new position in shares of W.P. Carey in the fourth quarter worth about $26,000. Osbon Capital Management LLC purchased a new position in W.P. Carey in the 4th quarter worth about $29,000. Headlands Technologies LLC purchased a new position in W.P. Carey in the 2nd quarter worth about $30,000. Finally, Wealth Watch Advisors INC purchased a new position in W.P. Carey in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on WPC. Wells Fargo & Company boosted their price objective on shares of W.P. Carey from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, June 1st. Bank of America raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $73.00 to $83.00 in a research report on Tuesday, June 16th. Weiss Ratings raised shares of W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Scotiabank boosted their price target on W.P. Carey from $76.00 to $77.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Finally, BMO Capital Markets dropped their price objective on W.P. Carey from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, June 18th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $79.38.

W.P. Carey Stock Up 0.2%

Shares of W.P. Carey stock opened at $71.76 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 cap of $16.35 billion, a P/E ratio of 24.49, a PEG ratio of 3.57 and a beta of 0.75. The firm’s 50 day moving average price is $72.54 and its 200-day moving average price is $72.58. W.P. Carey Inc. has a 52-week low of $63.08 and a 52-week high of $77.22.

W.P. Carey Increases Dividend

The company 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 is an increase from W.P. Carey’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Tuesday, June 30th. W.P. Carey’s dividend payout ratio is presently 128.33%.

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.