Wealthfront Advisers LLC Purchases New Position in W.P. Carey Inc. $WPC

Wealthfront Advisers LLC acquired a new position in shares of W.P. Carey Inc. (NYSE:WPC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 80,736 shares of the real estate investment trust’s stock, valued at approximately $5,773,000.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. UBS Group restated a “neutral” rating on shares of W.P. Carey in a research report on Wednesday, July 29th. Bank of America upgraded shares of W.P. Carey from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $73.00 to $83.00 in a research report on Tuesday, June 16th. Citigroup reiterated a “market perform” rating on shares of W.P. Carey in a research report on Thursday, June 18th. Wolfe Research raised W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research note on Monday, June 8th. Finally, BNP Paribas Exane raised W.P. Carey from a “neutral” rating to an “outperform” rating and upped their price target for the company from $73.00 to $88.00 in a research note on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $79.38.

W.P. Carey Stock Performance

Shares of W.P. Carey stock opened at $72.12 on Friday. The firm has a fifty day moving average of $72.82 and a two-hundred day moving average of $72.53. 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 $16.43 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 3.59 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.

W.P. Carey Increases Dividend

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