Diversify Advisory Services LLC Invests $1.65 Million in W.P. Carey Inc. $WPC

Diversify Advisory Services LLC purchased a new position in shares of W.P. Carey Inc. (NYSE:WPC) during the second quarter, HoldingsChannel reports. The firm purchased 21,678 shares of the real estate investment trust’s stock, valued at approximately $1,650,000.

A number of other hedge funds have also recently added to or reduced their stakes in WPC. Investmark Advisory Group LLC bought a new stake in shares of W.P. Carey during the second quarter valued at approximately $2,608,000. Wealthfront Advisers LLC bought a new position in shares of W.P. Carey in the 2nd quarter worth $5,773,000. Equity Investment Corp acquired a new stake in W.P. Carey in the 2nd quarter valued at $108,148,000. Meeder Advisory Services Inc. acquired a new stake in W.P. Carey in the 2nd quarter valued at $291,000. Finally, BlackRock Inc. bought a new stake in W.P. Carey during the 2nd quarter valued at $2,371,801,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W.P. Carey Trading Up 1.2%

Shares of W.P. Carey stock opened at $71.92 on Thursday. W.P. Carey Inc. has a 1 year low of $63.08 and a 1 year high of $77.22. The firm has a market cap of $16.38 billion, a PE ratio of 24.55, a P/E/G ratio of 3.54 and a beta of 0.75. The stock has a fifty day moving average price of $72.89 and a 200-day moving average price of $72.52. 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 disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.94 dividend. The ex-dividend date was Tuesday, June 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a yield of 5.2%. W.P. Carey’s dividend payout ratio (DPR) is currently 128.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WPC shares. Wolfe Research upgraded shares of W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a report on Monday, June 8th. Wells Fargo & Company boosted their price objective on W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Scotiabank raised their target price on W.P. Carey from $76.00 to $77.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Bank of America raised W.P. Carey from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $73.00 to $83.00 in a research report on Tuesday, June 16th. Finally, UBS Group reissued a “neutral” rating on shares of W.P. Carey in a research report on Wednesday, July 29th. Seven research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.