Invst LLC Acquires New Position in W.P. Carey Inc. $WPC

Invst LLC bought a new position in W.P. Carey Inc. (NYSE:WPC) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 9,819 shares of the real estate investment trust’s stock, valued at approximately $702,000.

Several other hedge funds and other institutional investors have also bought and sold shares of WPC. Jacobi Capital Management LLC raised its stake in shares of W.P. Carey by 2.5% during the fourth quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust’s stock worth $379,000 after acquiring an additional 145 shares in the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of W.P. Carey by 0.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 21,474 shares of the real estate investment trust’s stock valued at $1,459,000 after purchasing an additional 146 shares in the last quarter. Gen Wealth Partners Inc grew its holdings in shares of W.P. Carey by 2.0% during the 4th quarter. Gen Wealth Partners Inc now owns 7,572 shares of the real estate investment trust’s stock valued at $487,000 after purchasing an additional 146 shares during the last quarter. Turning Point Benefit Group Inc. grew its holdings in shares of W.P. Carey by 6.3% during the 4th quarter. Turning Point Benefit Group Inc. now owns 2,511 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 148 shares during the last quarter. Finally, Vanderbilt University grew its holdings in shares of W.P. Carey by 1.1% during the 1st quarter. Vanderbilt University now owns 14,968 shares of the real estate investment trust’s stock valued at $1,017,000 after purchasing an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W.P. Carey Stock Up 0.2%

NYSE WPC opened at $71.76 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22. The stock has a market capitalization of $16.35 billion, a PE ratio of 24.49, a PEG ratio of 3.57 and a beta of 0.75. W.P. Carey Inc. has a 1 year low of $63.08 and a 1 year high of $77.22. The business’s 50-day moving average is $72.54 and its 200 day moving average is $72.58.

W.P. Carey Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Tuesday, June 30th. This represents a $3.76 annualized dividend and a yield of 5.2%. W.P. Carey’s dividend payout ratio (DPR) is 128.33%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wells Fargo & Company boosted their price target on shares of W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Weiss Ratings raised W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Scotiabank lifted their price objective on W.P. Carey from $76.00 to $77.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. Evercore set a $77.00 target price on W.P. Carey in a research note on Thursday, July 30th. Finally, Barclays increased their target price on W.P. Carey from $78.00 to $80.00 and gave the company an “underweight” rating in a report on Wednesday, July 22nd. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $79.38.

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.