Redhawk Wealth Advisors Inc. Invests $877,000 in W.P. Carey Inc. $WPC

Redhawk Wealth Advisors Inc. purchased a new stake in W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, Holdings Channel.com reports. The firm purchased 12,271 shares of the real estate investment trust’s stock, valued at approximately $877,000.

Other institutional investors have also modified their holdings of the company. Laurel Wealth Advisors LLC acquired a new position in W.P. Carey in the fourth quarter valued at approximately $25,000. Commonwealth Retirement Investments LLC acquired a new stake in shares of W.P. Carey during the 4th quarter worth approximately $26,000. Osbon Capital Management LLC acquired a new stake in shares of W.P. Carey during the 4th quarter worth approximately $29,000. Headlands Technologies LLC bought a new stake in shares of W.P. Carey in the 2nd quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of W.P. Carey in the 3rd quarter worth approximately $33,000. Institutional investors own 73.73% of the company’s stock.

W.P. Carey Stock Performance

WPC opened at $70.08 on Wednesday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. The business’s 50 day moving average is $73.27 and its 200-day moving average is $72.41. The stock has a market cap of $15.96 billion, a PE ratio of 23.92, a price-to-earnings-growth ratio of 3.52 and a beta of 0.75. W.P. Carey Inc. has a twelve month low of $63.08 and a twelve month high of $77.22.

W.P. Carey Increases Dividend

The firm 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. The ex-dividend date was Tuesday, June 30th. This represents a $3.76 annualized dividend and a yield of 5.4%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s payout ratio is 128.33%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WPC. Royal Bank Of Canada boosted their price objective on W.P. Carey from $73.00 to $77.00 and gave the company a “sector perform” rating in a research report on Thursday, July 30th. Evercore set a $77.00 target price on W.P. Carey in a research note on Thursday, July 30th. Wells Fargo & Company raised their target price on W.P. Carey from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, June 1st. BNP Paribas Exane raised shares of W.P. Carey from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $73.00 to $88.00 in a report on Wednesday, July 29th. Finally, Bank of America upgraded shares of W.P. Carey from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $73.00 to $83.00 in a research report on Tuesday, June 16th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $79.31.

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.