Jupiter Topco LLC Buys Shares of 16,652 W.P. Carey Inc. $WPC

Jupiter Topco LLC bought a new position in W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,652 shares of the real estate investment trust’s stock, valued at approximately $1,191,000.

Other large investors also recently made changes to their positions in the company. Commonwealth Retirement Investments LLC acquired a new position in shares of W.P. Carey during the fourth quarter worth approximately $26,000. Osbon Capital Management LLC acquired a new stake in W.P. Carey in the 4th quarter valued at approximately $29,000. Headlands Technologies LLC acquired a new stake in W.P. Carey in the 2nd quarter valued at approximately $30,000. Wealth Watch Advisors INC acquired a new stake in W.P. Carey in the 3rd quarter valued at approximately $33,000. Finally, Avalon Trust Co bought a new stake in W.P. Carey during the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W.P. Carey Price Performance

Shares of NYSE:WPC opened at $70.33 on Friday. W.P. Carey Inc. has a 12 month low of $63.08 and a 12 month high of $77.22. The stock has a market cap of $16.02 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 3.51 and a beta of 0.75. The stock’s 50 day moving average price is $72.24 and its 200 day moving average price is $72.47. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22.

W.P. Carey Increases Dividend

The company also recently declared 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 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 annualized dividend and a dividend yield of 5.3%. W.P. Carey’s payout ratio is 128.33%.

Analysts Set New Price Targets

A number of brokerages have issued reports on WPC. Wolfe Research upgraded W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research report on Monday, June 8th. Bank of America raised W.P. Carey from an “underperform” rating to a “neutral” rating and raised their price target for the company from $73.00 to $83.00 in a report on Tuesday, June 16th. Weiss Ratings upgraded shares of W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 24th. Wells Fargo & Company upped their price objective on shares of W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Finally, Evercore set a $77.00 target price on shares of W.P. Carey in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.38.

W.P. Carey Company 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.