Investmark Advisory Group LLC Takes Position in W.P. Carey Inc. $WPC

Investmark Advisory Group LLC acquired a new position in shares of W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,479 shares of the real estate investment trust’s stock, valued at approximately $2,608,000. W.P. Carey accounts for about 1.0% of Investmark Advisory Group LLC’s holdings, making the stock its 23rd largest holding.

A number of other hedge funds have also modified their holdings of WPC. BlackRock Inc. bought a new stake in W.P. Carey in the 2nd quarter valued at approximately $2,371,801,000. Invesco Ltd. lifted its position in shares of W.P. Carey by 416.8% in the third quarter. Invesco Ltd. now owns 3,892,462 shares of the real estate investment trust’s stock worth $263,014,000 after purchasing an additional 3,139,266 shares in the last quarter. Norges Bank acquired a new position in W.P. Carey during the fourth quarter worth $184,035,000. Bank of New York Mellon Corp acquired a new position in W.P. Carey during the second quarter worth $164,853,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in W.P. Carey by 31,629.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,163,285 shares of the real estate investment trust’s stock valued at $139,229,000 after purchasing an additional 2,156,467 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

W.P. Carey Trading Down 0.6%

Shares of NYSE:WPC opened at $71.09 on Wednesday. W.P. Carey Inc. has a 52-week low of $63.08 and a 52-week high of $77.22. The company has a market capitalization of $16.20 billion, a P/E ratio of 24.26, a price-to-earnings-growth ratio of 3.57 and a beta of 0.75. The company has a 50-day simple moving average of $72.97 and a 200 day simple moving average of $72.50. 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 announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.94 per share. The ex-dividend date was Tuesday, June 30th. This represents a $3.76 annualized dividend and a dividend yield of 5.3%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s dividend payout ratio is presently 128.33%.

Wall Street Analyst Weigh In

Several brokerages have commented on WPC. BMO Capital Markets cut their price target 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. Evercore set a $77.00 price target on W.P. Carey in a research report on Thursday, July 30th. BNP Paribas Exane upgraded W.P. Carey from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $73.00 to $88.00 in a research note on Wednesday, July 29th. Royal Bank Of Canada increased their price objective on W.P. Carey from $73.00 to $77.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Finally, Wells Fargo & Company raised their target price on shares of W.P. Carey from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price 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.