Waverly Advisors LLC Boosts Position in W.P. Carey Inc. $WPC

Waverly Advisors LLC raised its holdings in shares of W.P. Carey Inc. (NYSE:WPC) by 2,367.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,200 shares of the real estate investment trust’s stock after buying an additional 318,735 shares during the period. Waverly Advisors LLC’s holdings in W.P. Carey were worth $23,752,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of WPC. Jacobi Capital Management LLC increased its position in shares of W.P. Carey by 2.5% in the fourth quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust’s stock worth $379,000 after acquiring an additional 145 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of W.P. Carey by 0.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 21,474 shares of the real estate investment trust’s stock valued at $1,459,000 after acquiring an additional 146 shares during the period. Gen Wealth Partners Inc lifted its holdings in shares of W.P. Carey by 2.0% during the 4th quarter. Gen Wealth Partners Inc now owns 7,572 shares of the real estate investment trust’s stock valued at $487,000 after acquiring an additional 146 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in W.P. Carey by 1.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 13,818 shares of the real estate investment trust’s stock worth $988,000 after purchasing an additional 148 shares during the period. Finally, Vanderbilt University boosted its position in W.P. Carey by 1.1% during the 1st quarter. Vanderbilt University now owns 14,968 shares of the real estate investment trust’s stock worth $1,017,000 after purchasing an additional 162 shares during the period. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W.P. Carey Trading Up 0.2%

WPC opened at $70.52 on Wednesday. W.P. Carey Inc. has a 12-month low of $63.08 and a 12-month 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 stock has a market capitalization of $16.07 billion, a PE ratio of 24.07, a P/E/G ratio of 3.51 and a beta of 0.75. The firm’s fifty day moving average price is $72.16 and its 200 day moving average price is $72.43.

W.P. Carey Increases Dividend

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

Analysts Set New Price Targets

WPC has been the subject of several recent research reports. Scotiabank increased their price target 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. Royal Bank Of Canada boosted their price objective on W.P. Carey from $73.00 to $77.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 30th. BNP Paribas Exane raised 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 research report on Wednesday, July 29th. Weiss Ratings upgraded W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 24th. Finally, Citigroup reiterated a “market perform” rating on shares of W.P. Carey in a report on Thursday, June 18th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, W.P. Carey presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.38.

W.P. Carey 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.