Dockside LLC Invests $1.42 Million in W.P. Carey Inc. $WPC

Dockside LLC acquired a new stake in W.P. Carey Inc. (NYSE:WPC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 19,838 shares of the real estate investment trust’s stock, valued at approximately $1,418,000.

Several other institutional investors and hedge funds also recently made changes to their positions in WPC. Laurel Wealth Advisors LLC bought a new stake in W.P. Carey in the fourth quarter worth approximately $25,000. Commonwealth Retirement Investments LLC bought a new position in shares of W.P. Carey during the 4th quarter worth approximately $26,000. Osbon Capital Management LLC acquired a new stake in shares of W.P. Carey during the 4th quarter worth approximately $29,000. Headlands Technologies LLC bought a new stake in shares of W.P. Carey in the 2nd quarter valued at $30,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of W.P. Carey during the 3rd quarter valued at $33,000. Institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

WPC has been the topic of several research analyst reports. Wells Fargo & Company increased their target price 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. BNP Paribas Exane raised shares of W.P. Carey from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $73.00 to $88.00 in a research note on Wednesday, July 29th. UBS Group reiterated a “neutral” rating on shares of W.P. Carey in a report on Wednesday, July 29th. BMO Capital Markets cut their price objective 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. Finally, Scotiabank raised their target price on W.P. Carey from $76.00 to $77.00 and gave the company a “sector perform” rating in a research note on Thursday. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, W.P. Carey presently has a consensus rating of “Hold” and a consensus price target of $79.38.

W.P. Carey Price Performance

Shares of NYSE:WPC opened at $71.66 on Friday. W.P. Carey Inc. has a twelve month low of $63.08 and a twelve month high of $77.22. The stock’s 50 day moving average is $73.10 and its 200-day moving average is $72.43. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $16.32 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 3.56 and a beta of 0.75.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.94 per share. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. The ex-dividend date was Tuesday, June 30th. This represents a $3.76 dividend on an annualized basis and a yield of 5.2%. W.P. Carey’s dividend payout ratio (DPR) is presently 128.33%.

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.