W.P. Carey Inc. $WPC Shares Bought by Waverly Advisors LLC

Key Points

• Waverly Advisors significantly increased its W.P. Carey stake by 2,367.1% in the second quarter, purchasing 318,735 additional shares for a total holding of 332,200 shares worth approximately $23.75 million.
• Institutional investors and hedge funds own 73.73% of W.P. Carey, with several major investors—including Swedbank, HSBC, and Bank of America—also increasing their positions.
• W.P. Carey raised its quarterly dividend to $0.94 per share, representing a 5.3% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $79.38, compared with the stock’s reported price of $70.52.

Waverly Advisors LLC grew its position in W.P. Carey Inc. (NYSE:WPC - Free Report) by 2,367.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,200 shares of the real estate investment trust's stock after buying an additional 318,735 shares during the quarter. Waverly Advisors LLC owned 0.15% of W.P. Carey worth $23,752,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WPC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in W.P. Carey by 22.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 153,462 shares of the real estate investment trust's stock valued at $10,429,000 after buying an additional 27,734 shares during the last quarter. Swedbank AB increased its position in W.P. Carey by 124.2% during the fourth quarter. Swedbank AB now owns 135,849 shares of the real estate investment trust's stock worth $8,743,000 after buying an additional 75,253 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of W.P. Carey in the fourth quarter worth $41,638,000. Hsbc Holdings PLC lifted its position in shares of W.P. Carey by 8.4% in the fourth quarter. Hsbc Holdings PLC now owns 922,540 shares of the real estate investment trust's stock valued at $59,370,000 after acquiring an additional 71,463 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of W.P. Carey by 2.4% in the first quarter. Bank of America Corp DE now owns 1,365,724 shares of the real estate investment trust's stock valued at $92,815,000 after acquiring an additional 31,476 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Stock Performance

NYSE:WPC opened at $70.52 on Wednesday. The company has a market cap 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 firm's 50 day moving average is $72.16 and its two-hundred day moving average is $72.43. 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 quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors 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 of this dividend was Tuesday, June 30th. This represents a $3.76 annualized dividend and a dividend yield of 5.3%. W.P. Carey's dividend payout ratio is 128.33%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WPC shares. Evercore set a $77.00 price objective on W.P. Carey in a research report on Thursday, July 30th. Royal Bank Of Canada upped their target price on shares of W.P. Carey from $73.00 to $77.00 and gave the company a "sector perform" rating in a report on Thursday, July 30th. UBS Group reaffirmed a "neutral" rating on shares of W.P. Carey in a research note on Wednesday, July 29th. Citigroup reiterated a "market perform" rating on shares of W.P. Carey in a report on Thursday, June 18th. Finally, Barclays raised shares of W.P. Carey from an "underweight" rating to an "equal weight" rating and set a $80.00 price objective for the company in a research report on Friday, September 4th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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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