Pasadena Private Wealth LLC Purchases New Holdings in W.P. Carey Inc. $WPC

Pasadena Private Wealth LLC purchased a new stake in W.P. Carey Inc. (NYSE:WPC) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 12,966 shares of the real estate investment trust’s stock, valued at approximately $927,000.

Several other institutional investors have also recently made changes to their positions in the stock. Laurel Wealth Advisors LLC bought a new stake in shares of W.P. Carey during the 4th quarter worth approximately $25,000. Commonwealth Retirement Investments LLC bought a new position in shares of W.P. Carey in the fourth quarter valued at $26,000. Osbon Capital Management LLC acquired a new position in W.P. Carey during the fourth quarter worth $29,000. Headlands Technologies LLC acquired a new position in W.P. Carey during the second quarter worth $30,000. Finally, Wealth Watch Advisors INC acquired a new position in W.P. Carey during the third quarter worth $33,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of W.P. Carey in a research note on Friday, July 31st. BNP Paribas Exane upgraded W.P. Carey from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $73.00 to $88.00 in a research note on Wednesday, July 29th. Barclays raised their price target 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. Evercore set a $77.00 price objective on shares of W.P. Carey in a research note on Thursday, July 30th. Finally, Bank of America raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $73.00 to $83.00 in a report on Tuesday, June 16th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.38.

W.P. Carey Price Performance

W.P. Carey stock opened at $71.92 on Thursday. The firm has a market cap of $16.38 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 3.54 and a beta of 0.75. 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’s fifty day moving average price is $72.89 and its two-hundred day moving average price is $72.52. W.P. Carey Inc. has a one year low of $63.08 and a one year high of $77.22.

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 issued a dividend of $0.94 per share. This is an increase from W.P. Carey’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $3.76 annualized dividend and a dividend yield of 5.2%. W.P. Carey’s 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.