Dockside LLC Purchases Shares of 19,838 W.P. Carey Inc. $WPC

Key Points

• Dockside LLC acquired 19,838 shares of W.P. Carey during the second quarter, valued at approximately $1.42 million. Institutional investors and hedge funds collectively own 73.73% of the REIT.
• W.P. Carey raised its quarterly dividend to $0.94 per share, representing an annualized payout of $3.76 and a 5.2% yield, although its payout ratio stands at 128.33%.
• Analyst sentiment is mixed but improving: the consensus rating remains Hold, with an average price target of $79.38, while BNP Paribas Exane upgraded the stock to Outperform and raised its target to $88.

Dockside LLC acquired a new position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 19,838 shares of the real estate investment trust's stock, valued at approximately $1,418,000.

Several other institutional investors have also made changes to their positions in the business. Jacobi Capital Management LLC raised its position in W.P. Carey by 2.5% in the fourth quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust's stock valued at $379,000 after purchasing an additional 145 shares during the last quarter. Gen Wealth Partners Inc boosted its stake in shares of W.P. Carey by 2.0% during the fourth quarter. Gen Wealth Partners Inc now owns 7,572 shares of the real estate investment trust's stock valued at $487,000 after purchasing an additional 146 shares in the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of W.P. Carey by 0.7% during the first quarter. Kestra Private Wealth Services LLC now owns 21,474 shares of the real estate investment trust's stock worth $1,459,000 after purchasing an additional 146 shares during the last quarter. Turning Point Benefit Group Inc. grew its holdings in shares of W.P. Carey by 6.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 2,511 shares of the real estate investment trust's stock worth $162,000 after purchasing an additional 148 shares during the last quarter. Finally, Vanderbilt University increased its stake in shares of W.P. Carey by 1.1% in the first quarter. Vanderbilt University now owns 14,968 shares of the real estate investment trust's stock valued at $1,017,000 after buying an additional 162 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Price Performance

Shares of WPC opened at $71.66 on Friday. The business has a 50-day moving average of $73.10 and a 200-day moving average of $72.43. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22. The company has a market capitalization of $16.32 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 3.56 and a beta of 0.75. W.P. Carey Inc. has a 1 year low of $63.08 and a 1 year high of $77.22.

W.P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.94 dividend. This is an increase from W.P. Carey's previous quarterly dividend of $0.93. The ex-dividend date was Tuesday, June 30th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.2%. W.P. Carey's dividend payout ratio is presently 128.33%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on WPC shares. UBS Group reiterated a "neutral" rating on shares of W.P. Carey in a report on Wednesday, July 29th. BNP Paribas Exane raised shares of W.P. Carey from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $73.00 to $88.00 in a report on Wednesday, July 29th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of W.P. Carey in a research note on Friday, July 31st. Bank of America upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and lifted their price target for the stock from $73.00 to $83.00 in a report on Tuesday, June 16th. Finally, Evercore set a $77.00 price objective on shares of W.P. Carey in a research note on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $79.38.

W.P. Carey Company 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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