Sanctuary Advisors LLC Buys New Position in W.P. Carey Inc. $WPC

Sanctuary Advisors LLC purchased a new stake in W.P. Carey Inc. (NYSE:WPC) in the second quarter, HoldingsChannel.com reports. The firm purchased 33,649 shares of the real estate investment trust’s stock, valued at approximately $2,406,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC acquired a new stake in W.P. Carey in the 4th quarter worth approximately $25,000. Commonwealth Retirement Investments LLC acquired a new position in W.P. Carey during the 4th quarter valued at approximately $26,000. Osbon Capital Management LLC purchased a new position in shares of W.P. Carey in the fourth quarter worth $29,000. Headlands Technologies LLC purchased a new position in shares of W.P. Carey in the second quarter worth $30,000. Finally, Wealth Watch Advisors INC purchased a new position in shares of W.P. Carey in the third quarter worth $33,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W.P. Carey Stock Performance

Shares of NYSE WPC opened at $71.76 on Wednesday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. W.P. Carey Inc. has a 12 month low of $63.08 and a 12 month high of $77.22. The company has a 50 day simple moving average of $72.54 and a two-hundred day simple moving average of $72.58. The stock has a market cap of $16.35 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 3.57 and a beta of 0.75.

W.P. Carey Increases Dividend

The firm 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. This represents a $3.76 annualized dividend and a dividend yield of 5.2%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, June 30th. W.P. Carey’s dividend payout ratio is 128.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. BNP Paribas Exane raised shares of W.P. Carey from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $73.00 to $88.00 in a report on Wednesday, July 29th. Barclays raised their target price on W.P. Carey from $78.00 to $80.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 22nd. Evercore set a $77.00 price target on W.P. Carey in a research report on Thursday, July 30th. Wolfe Research upgraded W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Monday, June 8th. Finally, Bank of America raised W.P. Carey from an “underperform” rating to a “neutral” rating and increased 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 issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.