W. P. Carey Inc. (NYSE:WPC) Shares Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC grew its holdings in shares of W. P. Carey Inc. (NYSE:WPCGet Rating) by 44.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,356 shares of the real estate investment trust’s stock after purchasing an additional 1,334 shares during the quarter. Park Avenue Securities LLC’s holdings in W. P. Carey were worth $304,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in WPC. Better Money Decisions LLC acquired a new position in W. P. Carey during the second quarter worth approximately $25,000. Fairfield Bush & CO. purchased a new position in shares of W. P. Carey in the 1st quarter worth $26,000. Acadian Asset Management LLC acquired a new position in W. P. Carey in the first quarter valued at $26,000. SJS Investment Consulting Inc. purchased a new stake in W. P. Carey during the third quarter valued at about $33,000. Finally, Avondale Wealth Management acquired a new stake in W. P. Carey during the third quarter worth about $34,000. 62.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JMP Securities decreased their target price on W. P. Carey from $93.00 to $86.00 and set a “market outperform” rating for the company in a report on Monday, October 24th. Raymond James lifted their target price on shares of W. P. Carey from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, December 19th. StockNews.com initiated coverage on W. P. Carey in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Evercore ISI decreased their target price on W. P. Carey from $90.00 to $87.00 in a research report on Tuesday, September 27th. Finally, Capital One Financial reissued an “overweight” rating on shares of W. P. Carey in a research report on Monday, December 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

W. P. Carey Stock Performance

W. P. Carey stock opened at $83.97 on Monday. The company has a market cap of $17.47 billion, a PE ratio of 33.32, a P/E/G ratio of 13.32 and a beta of 0.73. W. P. Carey Inc. has a 12 month low of $67.76 and a 12 month high of $89.63. The company has a fifty day moving average price of $80.02 and a two-hundred day moving average price of $80.26. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.18 and a quick ratio of 0.18.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were issued a $1.065 dividend. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $4.26 dividend on an annualized basis and a yield of 5.07%. This is a boost from W. P. Carey’s previous quarterly dividend of $1.06. W. P. Carey’s dividend payout ratio (DPR) is currently 169.05%.

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.

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

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