CMH Wealth Management LLC Reduces Holdings in W.P. Carey Inc. $WPC

Key Points

• CMH Wealth Management cut its W.P. Carey stake by 43.4% in the second quarter, selling 18,125 shares and retaining 23,655 shares valued at approximately $1.7 million. Institutional investors collectively own 73.73% of the REIT.
• W.P. Carey shares recently traded at $69.84, down 1%, with a market capitalization of $15.91 billion. The stock remains below its consensus analyst price target of $79.38, while its average rating is “Hold.”
• The company raised its quarterly dividend to $0.94 per share, equivalent to an annualized $3.76 payout and a 5.4% dividend yield.

CMH Wealth Management LLC trimmed its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 43.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 23,655 shares of the real estate investment trust's stock after selling 18,125 shares during the quarter. CMH Wealth Management LLC's holdings in W.P. Carey were worth $1,714,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Invesco Ltd. grew its position in shares of W.P. Carey by 1.6% during the 2nd quarter. Invesco Ltd. now owns 753,196 shares of the real estate investment trust's stock valued at $46,984,000 after acquiring an additional 11,635 shares during the period. Cary Street Partners Financial LLC bought a new position in W.P. Carey in the 2nd quarter worth $115,000. Bank of Nova Scotia raised its holdings in W.P. Carey by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 8,164 shares of the real estate investment trust's stock worth $509,000 after purchasing an additional 555 shares during the period. Qube Research & Technologies Ltd purchased a new position in W.P. Carey during the second quarter valued at $3,494,000. Finally, Sei Investments Co. lifted its position in W.P. Carey by 73.0% during the second quarter. Sei Investments Co. now owns 96,983 shares of the real estate investment trust's stock valued at $6,050,000 after purchasing an additional 40,908 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W.P. Carey Trading Down 1.0%

Shares of WPC stock opened at $69.84 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.22 and a current ratio of 0.22. The stock has a fifty day simple moving average of $72.46 and a two-hundred day simple moving average of $72.55. The firm has a market capitalization of $15.91 billion, a PE ratio of 23.84, a PEG ratio of 3.51 and a beta of 0.75. W.P. Carey Inc. has a 52-week low of $63.08 and a 52-week high of $77.22.

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 given a dividend of $0.94 per share. This is an increase from W.P. Carey's previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a dividend yield of 5.4%. The ex-dividend date was Tuesday, June 30th. W.P. Carey's dividend payout ratio (DPR) is 128.33%.

Analyst Ratings Changes

WPC has been the subject of a number of analyst reports. Weiss Ratings upgraded W.P. Carey from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 24th. Scotiabank lifted their price objective on W.P. Carey from $76.00 to $77.00 and gave the company a "sector perform" rating in a research report on Thursday, August 13th. Citigroup reiterated a "market perform" rating on shares of W.P. Carey in a research note on Thursday, June 18th. Wolfe Research raised shares of W.P. Carey from a "peer perform" rating to an "outperform" rating and set a $85.00 target price for the company in a report on Monday, June 8th. Finally, Bank of America upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $73.00 to $83.00 in a research note on Tuesday, June 16th. Seven 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. Based on data from MarketBeat, W.P. Carey currently has an average rating of "Hold" and a consensus price target 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.

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