Wealthfront Advisers LLC Takes $5.77 Million Position in W.P. Carey Inc. $WPC

Wealthfront Advisers LLC acquired a new stake in W.P. Carey Inc. (NYSE:WPC) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 80,736 shares of the real estate investment trust’s stock, valued at approximately $5,773,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Equity Investment Corp bought a new position in shares of W.P. Carey during the 2nd quarter valued at about $108,148,000. Meeder Advisory Services Inc. bought a new stake in W.P. Carey during the 2nd quarter worth approximately $291,000. BlackRock Inc. bought a new stake in W.P. Carey during the 2nd quarter worth approximately $2,371,801,000. Deutsche Bank AG acquired a new stake in W.P. Carey during the 2nd quarter worth approximately $127,824,000. Finally, Perigon Wealth Management LLC acquired a new stake in W.P. Carey during the 2nd quarter worth approximately $766,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WPC shares. Citigroup reiterated a “market perform” rating on shares of W.P. Carey in a report on Thursday, June 18th. BMO Capital Markets dropped their price objective on shares of W.P. Carey from $86.00 to $84.00 and set an “outperform” rating on the stock in a report on Thursday, June 18th. Wells Fargo & Company upped their target price on shares of W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, June 1st. Royal Bank Of Canada increased their target price on W.P. Carey from $73.00 to $77.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. Finally, Evercore set a $77.00 target price on W.P. Carey in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.38.

W.P. Carey Trading Up 0.2%

W.P. Carey stock opened at $72.12 on Friday. The firm has a 50-day moving average of $72.82 and a 200-day moving average of $72.53. 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 current ratio of 0.22 and a quick ratio of 0.22. The company has a market cap of $16.43 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 3.59 and a beta of 0.75.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.94 per share. The ex-dividend date was Tuesday, June 30th. This is a boost 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 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.