EFG International AG Acquires New Shares in W.P. Carey Inc. $WPC

EFG International AG acquired a new position in shares of W.P. Carey Inc. (NYSE:WPC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,300 shares of the real estate investment trust’s stock, valued at approximately $808,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC acquired a new position in W.P. Carey in the fourth quarter valued at about $25,000. Commonwealth Retirement Investments LLC acquired a new stake in shares of W.P. Carey during the fourth quarter worth about $26,000. Osbon Capital Management LLC acquired a new stake in shares of W.P. Carey during the fourth quarter worth about $29,000. Headlands Technologies LLC bought a new position in shares of W.P. Carey during the 2nd quarter valued at about $30,000. Finally, Wealth Watch Advisors INC bought a new position in shares of W.P. Carey during the 3rd quarter valued at about $33,000. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wolfe Research upgraded W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Monday, June 8th. Barclays raised their target price on shares of W.P. Carey from $78.00 to $80.00 and gave the stock an “underweight” rating in a report on Wednesday, July 22nd. Royal Bank Of Canada upped their price target on shares of W.P. Carey from $73.00 to $77.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Citigroup reissued a “market perform” rating on shares of W.P. Carey in a research report on Thursday, June 18th. Finally, Weiss Ratings upgraded shares of W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Seven equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.38.

W.P. Carey Stock Down 1.0%

WPC stock opened at $70.42 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22. The stock has a market capitalization of $16.04 billion, a P/E ratio of 24.03, a P/E/G ratio of 3.55 and a beta of 0.75. W.P. Carey Inc. has a fifty-two week low of $63.08 and a fifty-two week high of $77.22. The business has a 50-day moving average of $72.51 and a 200-day moving average of $72.58.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 5.3%. The ex-dividend date was Tuesday, June 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.93. 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.