Corient Private Wealth LP Acquires New Holdings in W.P. Carey Inc. $WPC

Key Points

• Corient Private Wealth LP acquired 553,803 shares of W.P. Carey in the second quarter, valued at approximately $7.17 million and representing about 0.24% of the REIT. Institutional investors and hedge funds collectively own 73.73% of the company.
• W.P. Carey raised its quarterly dividend to $0.94 per share, or $3.76 annually, providing a 5.3% yield; its payout ratio is 128.33%.
• Analyst sentiment is mixed but improving: the stock has a consensus “Hold” rating and an average price target of $79.38, while recent upgrades placed targets as high as $88.00.

Corient Private Wealth LP bought a new stake in W.P. Carey Inc. (NYSE:WPC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 553,803 shares of the real estate investment trust's stock, valued at approximately $7,170,000. Corient Private Wealth LP owned approximately 0.24% of W.P. Carey as of its most recent filing with the Securities and Exchange Commission (SEC).

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

W.P. Carey Trading Up 0.0%

WPC opened at $70.53 on Monday. The stock has a market capitalization of $16.07 billion, a P/E ratio of 24.07, a P/E/G ratio of 3.51 and a beta of 0.75. 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 firm's fifty day simple moving average is $72.49 and its 200 day simple moving average is $72.57.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $3.76 annualized dividend and a dividend yield of 5.3%. This is a positive change from W.P. Carey's previous quarterly dividend of $0.93. W.P. Carey's dividend payout ratio (DPR) is 128.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. BNP Paribas Exane raised W.P. Carey from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $73.00 to $88.00 in a research note on Wednesday, July 29th. Wells Fargo & Company raised their price target on W.P. Carey from $77.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. UBS Group reiterated a "neutral" rating on shares of W.P. Carey in a report on Wednesday, July 29th. Evercore set a $77.00 price objective on W.P. Carey in a research report on Thursday, July 30th. Finally, Wolfe Research upgraded W.P. Carey from a "peer perform" rating to an "outperform" rating and set a $85.00 price objective for the company in a research report on Monday, June 8th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $79.38.

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.

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