CMH Wealth Management LLC Lowers Position in W.P. Carey Inc. $WPC

CMH Wealth Management LLC decreased its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 43.4% in the second quarter, Holdings Channel.com reports. The fund owned 23,655 shares of the real estate investment trust’s stock after selling 18,125 shares during the period. CMH Wealth Management LLC’s holdings in W.P. Carey were worth $1,714,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. bought a new position in shares of W.P. Carey during the 2nd quarter valued at about $2,371,801,000. Invesco Ltd. grew its position in shares of W.P. Carey by 416.8% during the third quarter. Invesco Ltd. now owns 3,892,462 shares of the real estate investment trust’s stock valued at $263,014,000 after purchasing an additional 3,139,266 shares in the last quarter. Norges Bank bought a new stake in shares of W.P. Carey in the fourth quarter worth about $184,035,000. Legal & General Group Plc bought a new stake in shares of W.P. Carey in the second quarter worth about $189,315,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of W.P. Carey in the second quarter worth about $164,853,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of research reports. Scotiabank increased 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. Royal Bank Of Canada lifted their price objective on W.P. Carey from $73.00 to $77.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. Weiss Ratings raised W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 24th. Barclays increased their target price on W.P. Carey from $78.00 to $80.00 and gave the company an “underweight” rating in a research report on Wednesday, July 22nd. Finally, Bank of America raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and raised their target price for the company from $73.00 to $83.00 in a report on Tuesday, June 16th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $79.38.

W.P. Carey Stock Down 1.0%

Shares of NYSE:WPC opened at $69.84 on Tuesday. The company has a market cap of $15.91 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 3.51 and a beta of 0.75. W.P. Carey Inc. has a 12 month low of $63.08 and a 12 month high of $77.22. 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 has a 50-day moving average price of $72.46 and a 200 day moving average price of $72.55.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s dividend payout ratio is 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.