Corient Private Wealth LP Makes New Investment in W.P. Carey Inc. $WPC

Corient Private Wealth LP purchased a new position in shares of W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, Holdings Channel reports. The firm purchased 553,803 shares of the real estate investment trust’s stock, valued at approximately $7,170,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Laurel Wealth Advisors LLC acquired a new position in W.P. Carey during the fourth quarter worth $25,000. Commonwealth Retirement Investments LLC acquired a new stake in W.P. Carey in the 4th quarter valued at $26,000. Osbon Capital Management LLC bought a new stake in W.P. Carey during the 4th quarter worth about $29,000. Headlands Technologies LLC acquired a new position in shares of W.P. Carey during the 2nd quarter worth about $30,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of W.P. Carey during the 3rd quarter worth about $33,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on WPC shares. Evercore set a $77.00 target price on W.P. Carey in a research report on Thursday, July 30th. Wells Fargo & Company upped their target price on W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. BNP Paribas Exane raised W.P. Carey from a “neutral” rating to an “outperform” rating and increased their price target for the company from $73.00 to $88.00 in a research report on Wednesday, July 29th. UBS Group restated a “neutral” rating on shares of W.P. Carey in a research note on Wednesday, July 29th. Finally, Royal Bank Of Canada boosted their price target on W.P. Carey from $73.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $79.38.

W.P. Carey Stock Up 0.0%

W.P. Carey stock opened at $70.53 on Monday. The firm 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 company’s 50-day moving average is $72.49 and its 200-day moving average is $72.57. W.P. Carey Inc. has a fifty-two week low of $63.08 and a fifty-two week 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.

W.P. Carey Increases Dividend

The firm also recently declared 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 an increase from W.P. Carey’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a yield of 5.3%. W.P. Carey’s dividend payout ratio is 128.33%.

About W.P. Carey

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.