W.P. Carey Inc. $WPC Stock Sold by CMH Wealth Management LLC

Key Points

• CMH Wealth Management cut its W.P. Carey position by 70.7% in the third quarter, selling 16,721 shares and retaining 6,934 shares worth approximately $455,000. Institutional investors collectively own 73.73% of the REIT.
• W.P. Carey raised its quarterly dividend from $0.94 to $0.95 per share, equating to an annualized $3.80 dividend and a 5.9% yield.
• WPC shares opened at $64.49, near their one-year low of $62.24. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $77.36, although Scotiabank recently reduced its target to $68.

CMH Wealth Management LLC reduced its position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 70.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,934 shares of the real estate investment trust's stock after selling 16,721 shares during the period. CMH Wealth Management LLC's holdings in W.P. Carey were worth $455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of WPC. Osbon Capital Management LLC purchased a new position in shares of W.P. Carey during the second quarter valued at approximately $32,000. GoalVest Advisory LLC raised its holdings in W.P. Carey by 102.3% in the 3rd quarter. GoalVest Advisory LLC now owns 449 shares of the real estate investment trust's stock valued at $29,000 after acquiring an additional 227 shares during the last quarter. Avalon Trust Co acquired a new position in W.P. Carey in the 2nd quarter valued at $36,000. Ancora Advisors LLC purchased a new position in shares of W.P. Carey during the 2nd quarter worth $41,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of W.P. Carey during the 1st quarter worth $40,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W.P. Carey Stock Performance

Shares of WPC stock opened at $64.49 on Friday. W.P. Carey Inc. has a one year low of $62.24 and a one year high of $77.22. 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 company has a 50 day moving average price of $67.45 and a 200 day moving average price of $71.18. The firm has a market capitalization of $14.69 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 3.16 and a beta of 0.75.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $3.80 annualized dividend and a dividend yield of 5.9%. This is a boost from W.P. Carey's previous quarterly dividend of $0.94. W.P. Carey's dividend payout ratio is presently 129.69%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on WPC shares. Citigroup restated a "market perform" rating on shares of W.P. Carey in a report on Friday, September 25th. Scotiabank dropped their target price on W.P. Carey from $76.00 to $68.00 and set a "sector perform" rating for the company in a research note on Thursday, September 24th. Evercore set a $75.00 target price on W.P. Carey in a research report on Monday, September 21st. Benchmark started coverage on W.P. Carey in a research report on Tuesday, September 22nd. They set a "buy" rating on the stock. Finally, Weiss Ratings lowered W.P. Carey from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.36.

W.P. Carey Company Profile

W.P. Carey Inc NYSE: WPC is a real estate investment trust specializing in the ownership and management of commercial properties under long-term, net lease agreements. In a net lease arrangement, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate rental income with relatively predictable operating expenses.

The company's portfolio is diversified across industrial, warehouse, retail, self-storage and other commercial properties.

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