Diversify Advisory Services LLC Acquires New Holdings in W.P. Carey Inc. $WPC

Diversify Advisory Services LLC bought a new stake in W.P. Carey Inc. (NYSE:WPC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 21,678 shares of the real estate investment trust’s stock, valued at approximately $1,650,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WPC. Invesco Ltd. raised its position in W.P. Carey by 1.6% in the second quarter. Invesco Ltd. now owns 753,196 shares of the real estate investment trust’s stock valued at $46,984,000 after purchasing an additional 11,635 shares during the last quarter. Cary Street Partners Financial LLC acquired a new position in shares of W.P. Carey in the second quarter valued at approximately $115,000. Bank of Nova Scotia increased its stake in shares of W.P. Carey by 7.3% in the second quarter. Bank of Nova Scotia now owns 8,164 shares of the real estate investment trust’s stock valued at $509,000 after buying an additional 555 shares during the period. Qube Research & Technologies Ltd bought a new position in W.P. Carey in the 2nd quarter valued at approximately $3,494,000. Finally, Sei Investments Co. boosted its position in W.P. Carey by 73.0% during the 2nd quarter. Sei Investments Co. now owns 96,983 shares of the real estate investment trust’s stock worth $6,050,000 after buying an additional 40,908 shares during the period. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on WPC shares. UBS Group restated a “neutral” rating on shares of W.P. Carey in a research report on Wednesday, July 29th. Royal Bank Of Canada raised their target price on W.P. Carey from $73.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Barclays lifted 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. Scotiabank increased their price target on W.P. Carey from $76.00 to $77.00 and gave the company a “sector perform” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of W.P. Carey in a research note on Friday, July 31st. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $79.38.

W.P. Carey Stock Performance

Shares of W.P. Carey stock opened at $71.92 on Thursday. The business has a 50-day moving average price of $72.89 and a two-hundred day moving average price of $72.52. W.P. Carey Inc. has a 1-year low of $63.08 and a 1-year high of $77.22. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. The company has a market cap of $16.38 billion, a P/E ratio of 24.55, a PEG ratio of 3.54 and a beta of 0.75.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.94 per share. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $3.76 annualized dividend and a dividend yield of 5.2%. W.P. Carey’s payout ratio is 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.