W.P. Carey Inc. $WPC Position Lessened by Stordahl Capital Management Inc.

Stordahl Capital Management Inc. trimmed its position in W.P. Carey Inc. (NYSE:WPC) by 52.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,457 shares of the real estate investment trust’s stock after selling 13,699 shares during the quarter. Stordahl Capital Management Inc.’s holdings in W.P. Carey were worth $805,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of WPC. BlackRock Inc. bought a new stake in W.P. Carey in the 2nd quarter valued at $2,371,801,000. Dimensional Fund Advisors LP raised its stake in shares of W.P. Carey by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,348,132 shares of the real estate investment trust’s stock valued at $227,539,000 after buying an additional 155,857 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of W.P. Carey in the 2nd quarter valued at $189,315,000. Bank of New York Mellon Corp raised its stake in shares of W.P. Carey by 1.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,353,944 shares of the real estate investment trust’s stock valued at $159,974,000 after buying an additional 37,649 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of W.P. Carey by 3.0% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,270,499 shares of the real estate investment trust’s stock worth $162,341,000 after acquiring an additional 65,284 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on WPC. Citigroup reiterated a “market perform” rating on shares of W.P. Carey in a research report on Friday, September 25th. BNP Paribas Exane raised shares of W.P. Carey from a “neutral” rating to an “outperform” rating and upped their target price for the company from $73.00 to $88.00 in a research note on Wednesday, July 29th. UBS Group reissued a “neutral” rating on shares of W.P. Carey in a research report on Wednesday, July 29th. Weiss Ratings cut shares of W.P. Carey from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday. Finally, Wells Fargo & Company cut their price target on shares of W.P. Carey from $80.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.36.

W.P. Carey Price Performance

W.P. Carey stock traded down $0.61 during mid-day trading on Friday, hitting $63.93. 1,838,068 shares of the company were exchanged, compared to its average volume of 1,641,998. The company has a market capitalization of $14.56 billion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 3.26 and a beta of 0.75. The business has a fifty day moving average of $67.29 and a 200 day moving average of $71.13. W.P. Carey Inc. has a 1-year low of $62.24 and a 1-year high of $77.22. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a dividend of $0.95 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.94. The ex-dividend date was Wednesday, September 30th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.9%. W.P. Carey’s dividend payout ratio is 129.69%.

About W.P. Carey

W.P. Carey Inc (NYSE: WPC) is a real estate investment trust specializing in the ownership and management of commercial properties under long-term, net lease agreements. In a net lease arrangement, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate rental income with relatively predictable operating expenses.

The company’s portfolio is diversified across industrial, warehouse, retail, self-storage and other commercial properties.