OMERS ADMINISTRATION Corp Takes Position in W.P. Carey Inc. $WPC

OMERS ADMINISTRATION Corp 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 SEC. The institutional investor purchased 11,383 shares of the real estate investment trust’s stock, valued at approximately $814,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in W.P. Carey in the 4th quarter valued at $25,000. Commonwealth Retirement Investments LLC acquired a new position in W.P. Carey during the fourth quarter worth $26,000. Osbon Capital Management LLC acquired a new position in W.P. Carey during the fourth quarter worth $29,000. Headlands Technologies LLC bought a new position in shares of W.P. Carey in the second quarter valued at $30,000. Finally, Wealth Watch Advisors INC bought a new position in shares of W.P. Carey in the third quarter valued at $33,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WPC. Royal Bank Of Canada boosted their target price on shares of W.P. Carey from $73.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. UBS Group reaffirmed a “neutral” rating on shares of W.P. Carey in a research report on Wednesday, July 29th. Scotiabank lifted their price target 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. Citigroup reissued a “market perform” rating on shares of W.P. Carey in a report on Thursday, June 18th. Finally, 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. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.38.

W.P. Carey Stock Down 1.0%

W.P. Carey stock opened at $70.42 on Friday. W.P. Carey Inc. has a fifty-two week low of $63.08 and a fifty-two week high of $77.22. The stock has a market cap 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. 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 debt-to-equity ratio of 1.01, a quick ratio of 0.22 and a current ratio of 0.22.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 5.3%. This is an increase 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 is 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.