Redwood Financial Network Corp Buys New Holdings in W. P. Carey Inc. (NYSE:WPC)

Redwood Financial Network Corp purchased a new position in W. P. Carey Inc. (NYSE:WPCGet Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,043 shares of the real estate investment trust’s stock, valued at approximately $352,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. H&H Retirement Design & Management INC grew its stake in W. P. Carey by 2.3% in the 2nd quarter. H&H Retirement Design & Management INC now owns 5,306 shares of the real estate investment trust’s stock valued at $464,000 after buying an additional 118 shares in the last quarter. Capital Planning Advisors LLC raised its stake in shares of W. P. Carey by 3.3% during the 2nd quarter. Capital Planning Advisors LLC now owns 3,780 shares of the real estate investment trust’s stock valued at $313,000 after purchasing an additional 121 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in W. P. Carey by 20.6% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 786 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 134 shares in the last quarter. Parsons Capital Management Inc. RI boosted its stake in W. P. Carey by 3.3% in the 3rd quarter. Parsons Capital Management Inc. RI now owns 4,700 shares of the real estate investment trust’s stock worth $328,000 after purchasing an additional 150 shares during the period. Finally, Carnegie Capital Asset Management LLC grew its holdings in W. P. Carey by 0.4% during the 3rd quarter. Carnegie Capital Asset Management LLC now owns 42,536 shares of the real estate investment trust’s stock valued at $2,969,000 after buying an additional 153 shares in the last quarter. Institutional investors and hedge funds own 62.73% of the company’s stock.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $84.76 on Wednesday. The firm has a market capitalization of $17.63 billion, a PE ratio of 33.64, a price-to-earnings-growth ratio of 13.35 and a beta of 0.73. The business’s 50-day moving average price is $80.27 and its 200-day moving average price is $80.30. W. P. Carey Inc. has a 12 month low of $67.76 and a 12 month high of $89.63. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.83.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Investors of record on Friday, December 30th were issued a dividend of $1.065 per share. This represents a $4.26 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Thursday, December 29th. This is an increase from W. P. Carey’s previous quarterly dividend of $1.06. W. P. Carey’s dividend payout ratio is currently 169.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WPC. StockNews.com started coverage on shares of W. P. Carey in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Evercore ISI cut their price target on shares of W. P. Carey from $90.00 to $87.00 in a report on Tuesday, September 27th. JMP Securities decreased their price target on shares of W. P. Carey from $93.00 to $86.00 and set a “market outperform” rating on the stock in a report on Monday, October 24th. Capital One Financial reiterated an “overweight” rating on shares of W. P. Carey in a research report on Monday, December 5th. Finally, Raymond James raised their price target on W. P. Carey from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, December 19th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

W. P. Carey Profile

(Get Rating)

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.

Further Reading

Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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