RB Capital Management LLC Makes New Investment in W.P. Carey Inc. $WPC

RB Capital Management LLC bought a new position in W.P. Carey Inc. (NYSE:WPC) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,061 shares of the real estate investment trust’s stock, valued at approximately $791,000.

Other institutional investors also recently modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new position in W.P. Carey during the 4th quarter valued at about $25,000. Commonwealth Retirement Investments LLC purchased a new stake in W.P. Carey in the fourth quarter worth about $26,000. Osbon Capital Management LLC bought a new position in shares of W.P. Carey during the fourth quarter valued at approximately $29,000. Headlands Technologies LLC bought a new position in shares of W.P. Carey during the second quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC bought a new position in shares of W.P. Carey during the third quarter valued at approximately $33,000. 73.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WPC. UBS Group reissued a “neutral” rating on shares of W.P. Carey in a research report on Wednesday, July 29th. 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 report on Monday, June 8th. BNP Paribas Exane upgraded W.P. Carey from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $73.00 to $88.00 in a research note on Wednesday, July 29th. Barclays boosted their target price on W.P. Carey from $78.00 to $80.00 and gave the stock an “underweight” rating in a report on Wednesday, July 22nd. Finally, Evercore set a $77.00 target price on W.P. Carey in a research note on Thursday, July 30th. Seven equities 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 company’s stock. According to data from MarketBeat.com, W.P. Carey currently has a consensus rating of “Hold” and a consensus price target of $79.38.

W.P. Carey Stock Up 0.2%

Shares of W.P. Carey stock opened at $70.53 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.22 and a current ratio of 0.22. The stock has a market capitalization of $16.07 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 3.51 and a beta of 0.75. W.P. Carey Inc. has a 52-week low of $63.08 and a 52-week high of $77.22. The company has a 50-day simple moving average of $72.49 and a two-hundred day simple moving average of $72.56.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.94 per share. 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. The ex-dividend date of this dividend was Tuesday, June 30th. W.P. Carey’s 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.