NewEdge Wealth LLC Makes New Investment in W.P. Carey Inc. $WPC

NewEdge Wealth LLC bought a new position in W.P. Carey Inc. (NYSE:WPC) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 19,618 shares of the real estate investment trust’s stock, valued at approximately $1,403,000.

Several other large investors have also added to or reduced their stakes in WPC. Laurel Wealth Advisors LLC purchased a new position in shares of W.P. Carey during the 4th quarter valued at $25,000. Commonwealth Retirement Investments LLC bought a new position in W.P. Carey during the fourth quarter valued at approximately $26,000. Osbon Capital Management LLC purchased a new position in shares of W.P. Carey in the fourth quarter valued at $29,000. Headlands Technologies LLC purchased a new position in shares of W.P. Carey in the 2nd quarter worth $30,000. Finally, Wealth Watch Advisors INC purchased a new position in W.P. Carey in the third quarter worth about $33,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of W.P. Carey in a research report on Friday, July 31st. BNP Paribas Exane upgraded W.P. Carey from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $73.00 to $88.00 in a report on Wednesday, July 29th. Barclays increased their price objective on shares of W.P. Carey from $78.00 to $80.00 and gave the company an “underweight” rating in a research note on Wednesday, July 22nd. Wolfe Research upgraded W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research note on Monday, June 8th. Finally, Citigroup reaffirmed a “market perform” rating on shares of W.P. Carey in a research report on Thursday, June 18th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $79.38.

W.P. Carey Stock Performance

WPC opened at $71.31 on Friday. The firm has a market capitalization of $16.25 billion, a PE ratio of 24.34, a P/E/G ratio of 3.59 and a beta of 0.75. The firm has a 50 day moving average of $72.71 and a two-hundred day moving average of $72.53. W.P. Carey Inc. has a 12-month low of $63.08 and a 12-month 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.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.94 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $3.76 annualized dividend and a yield of 5.3%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s payout ratio is currently 128.33%.

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.