7,807 Shares in W.P. Carey Inc. $WPC Acquired by Hudson Portfolio Management LLC

Hudson Portfolio Management LLC purchased a new position in shares of W.P. Carey Inc. (NYSE:WPC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 7,807 shares of the real estate investment trust’s stock, valued at approximately $558,000.

A number of other hedge funds also recently made changes to their positions in WPC. BlackRock Inc. purchased a new stake in shares of W.P. Carey during the 2nd quarter valued at $2,371,801,000. Invesco Ltd. raised its position in shares of W.P. Carey by 416.8% in the 3rd quarter. Invesco Ltd. now owns 3,892,462 shares of the real estate investment trust’s stock worth $263,014,000 after buying an additional 3,139,266 shares during the period. Norges Bank acquired a new position in W.P. Carey in the fourth quarter valued at $184,035,000. Bank of New York Mellon Corp acquired a new position in W.P. Carey in the second quarter valued at $164,853,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in W.P. Carey by 31,629.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,163,285 shares of the real estate investment trust’s stock valued at $139,229,000 after acquiring an additional 2,156,467 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W.P. Carey Trading Down 1.0%

WPC opened at $71.31 on Friday. The firm’s 50 day moving average is $72.71 and its 200-day moving average is $72.53. W.P. Carey Inc. has a 52-week low of $63.08 and a 52-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. The firm has a market capitalization of $16.25 billion, a P/E ratio of 24.34, a P/E/G ratio of 3.55 and a beta of 0.75.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.94 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $3.76 dividend on an annualized basis and a yield of 5.3%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s dividend payout ratio (DPR) is presently 128.33%.

Analyst Upgrades and Downgrades

WPC has been the subject of several research analyst reports. Wolfe Research upgraded W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price target for the company in a research note on Monday, June 8th. UBS Group reaffirmed a “neutral” rating on shares of W.P. Carey in a research note on Wednesday, July 29th. BNP Paribas Exane upgraded 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. Scotiabank increased their target price on shares of W.P. Carey from $76.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 13th. Finally, Bank of America upgraded shares of W.P. Carey from an “underperform” rating to a “neutral” rating and raised their price target for the company from $73.00 to $83.00 in a report on Tuesday, June 16th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $79.38.

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.