Investmark Advisory Group LLC Acquires 566 Shares of W. P. Carey Inc. (NYSE:WPC)

Investmark Advisory Group LLC raised its holdings in shares of W. P. Carey Inc. (NYSE:WPCGet Rating) by 2.1% during the second quarter, HoldingsChannel.com reports. The firm owned 27,329 shares of the real estate investment trust’s stock after buying an additional 566 shares during the period. W. P. Carey accounts for 2.2% of Investmark Advisory Group LLC’s portfolio, making the stock its 15th biggest position. Investmark Advisory Group LLC’s holdings in W. P. Carey were worth $2,264,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in WPC. Ensign Peak Advisors Inc boosted its holdings in W. P. Carey by 25.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 49,430 shares of the real estate investment trust’s stock valued at $4,057,000 after purchasing an additional 10,130 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of W. P. Carey by 4.2% in the 4th quarter. Geode Capital Management LLC now owns 3,043,613 shares of the real estate investment trust’s stock valued at $249,430,000 after buying an additional 123,647 shares during the period. Invesco Ltd. grew its stake in shares of W. P. Carey by 4.0% in the 4th quarter. Invesco Ltd. now owns 272,938 shares of the real estate investment trust’s stock valued at $22,395,000 after buying an additional 10,578 shares during the period. Schroder Investment Management Group boosted its position in shares of W. P. Carey by 60.7% during the 4th quarter. Schroder Investment Management Group now owns 21,512 shares of the real estate investment trust’s stock worth $1,765,000 after purchasing an additional 8,124 shares during the period. Finally, Hilltop Holdings Inc. purchased a new position in shares of W. P. Carey during the 4th quarter worth approximately $328,000. 64.74% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

Shares of NYSE:WPC traded down $1.21 on Friday, reaching $77.98. 16,245 shares of the company’s stock were exchanged, compared to its average volume of 827,752. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.83. W. P. Carey Inc. has a fifty-two week low of $73.02 and a fifty-two week high of $89.63. The business’s 50-day moving average is $85.15 and its two-hundred day moving average is $83.08. The firm has a market capitalization of $15.04 billion, a price-to-earnings ratio of 28.80, a PEG ratio of 7.13 and a beta of 0.68.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $1.061 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend is Thursday, September 29th. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.06. W. P. Carey’s dividend payout ratio is currently 154.18%.

Analyst Ratings Changes

WPC has been the topic of a number of analyst reports. Evercore ISI set a $89.00 price objective on shares of W. P. Carey in a report on Monday, June 20th. Wolfe Research initiated coverage on shares of W. P. Carey in a report on Monday, June 27th. They set a “market perform” rating and a $88.00 price objective on the stock. Royal Bank of Canada boosted their price objective on shares of W. P. Carey from $87.00 to $94.00 and gave the stock an “outperform” rating in a report on Monday, August 1st. StockNews.com cut shares of W. P. Carey from a “buy” rating to a “hold” rating in a research report on Wednesday, June 1st. Finally, Raymond James lifted their target price on shares of W. P. Carey from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.80.

W. P. Carey Company Profile

(Get Rating)

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.

See Also

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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