Private Management Group Inc. trimmed its holdings in shares of W.P. Carey Inc. (NYSE:WPC – Free Report) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 313,379 shares of the real estate investment trust’s stock after selling 13,880 shares during the period. Private Management Group Inc. owned 0.14% of W.P. Carey worth $22,407,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC acquired a new position in shares of W.P. Carey during the fourth quarter worth about $25,000. Commonwealth Retirement Investments LLC acquired a new stake in shares of W.P. Carey in the fourth quarter valued at about $26,000. Osbon Capital Management LLC purchased a new stake in shares of W.P. Carey during the 4th quarter valued at about $29,000. Headlands Technologies LLC purchased a new stake in shares of W.P. Carey during the 2nd quarter valued at about $30,000. Finally, Wealth Watch Advisors INC purchased a new stake 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 and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on WPC shares. Scotiabank upped their price target on W.P. Carey from $76.00 to $77.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. Citigroup reiterated a “market perform” rating on shares of W.P. Carey in a research note on Thursday, June 18th. Barclays boosted their target price on shares of W.P. Carey from $78.00 to $80.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 22nd. 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, UBS Group reaffirmed a “neutral” rating on shares of W.P. Carey in a report on Wednesday, July 29th. Seven 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. Based on data from MarketBeat.com, W.P. Carey presently has an average rating of “Hold” and an average target price of $79.38.
W.P. Carey Trading Up 0.2%
NYSE:WPC opened at $70.53 on Friday. The stock has a market cap of $16.07 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 3.51 and a beta of 0.75. W.P. Carey Inc. has a one year low of $63.08 and a one year high of $77.22. 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 business’s 50-day simple moving average is $72.49 and its 200 day simple moving average is $72.56.
W.P. Carey Increases Dividend
The firm also recently disclosed 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. 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 dividend payout ratio (DPR) is presently 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.
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