Hudson Portfolio Management LLC Purchases New Holdings in W.P. Carey Inc. $WPC

Hudson Portfolio Management LLC acquired a new stake in shares of W.P. Carey Inc. (NYSE:WPC) in the second quarter, HoldingsChannel reports. The fund acquired 7,807 shares of the real estate investment trust’s stock, valued at approximately $558,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of WPC. Laurel Wealth Advisors LLC acquired a new position in shares of W.P. Carey in the 4th quarter valued at approximately $25,000. Commonwealth Retirement Investments LLC purchased a new position in shares of W.P. Carey during the 4th quarter valued at approximately $26,000. Osbon Capital Management LLC acquired a new stake in shares of W.P. Carey during the fourth quarter worth approximately $29,000. Headlands Technologies LLC acquired a new stake in shares of W.P. Carey during the second quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of W.P. Carey in the third quarter worth $33,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on WPC shares. Citigroup reaffirmed a “market perform” rating on shares of W.P. Carey in a report on Thursday, June 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of W.P. Carey in a report on Friday, July 31st. Scotiabank boosted their target price on shares of W.P. Carey from $76.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 13th. Royal Bank Of Canada upped their target price on shares of W.P. Carey from $73.00 to $77.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Finally, Bank of America raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $73.00 to $83.00 in a research report on Tuesday, June 16th. Seven investment 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. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $79.38.

W.P. Carey Price Performance

Shares of NYSE WPC opened at $71.31 on Friday. W.P. Carey Inc. has a 1-year low of $63.08 and a 1-year high of $77.22. 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 business’s fifty day moving average price is $72.71 and its two-hundred day moving average price is $72.53. The firm has a market capitalization of $16.25 billion, a PE ratio of 24.34, a P/E/G ratio of 3.55 and a beta of 0.75.

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 an increase from W.P. Carey’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Tuesday, June 30th. 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.