EFG International AG Invests $808,000 in W.P. Carey Inc. $WPC

EFG International AG purchased a new stake in shares of W.P. Carey Inc. (NYSE:WPC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,300 shares of the real estate investment trust’s stock, valued at approximately $808,000.

Several other large investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new stake in W.P. Carey during the 4th quarter worth about $25,000. Commonwealth Retirement Investments LLC bought a new position in shares of W.P. Carey in the 4th quarter valued at about $26,000. Osbon Capital Management LLC bought a new position in shares of W.P. Carey in the 4th quarter valued at about $29,000. Headlands Technologies LLC acquired a new stake in shares of W.P. Carey during the 2nd quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of W.P. Carey during the 3rd quarter worth approximately $33,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W.P. Carey Price Performance

W.P. Carey stock opened at $70.42 on Friday. 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 firm has a market capitalization of $16.04 billion, a P/E ratio of 24.03, a PEG ratio of 3.55 and a beta of 0.75. The business has a 50-day moving average of $72.51 and a 200-day moving average of $72.58. W.P. Carey Inc. has a 1 year low of $63.08 and a 1 year high of $77.22.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s payout ratio is 128.33%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Scotiabank increased their price objective on shares of W.P. Carey from $76.00 to $77.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Weiss Ratings raised shares of W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Citigroup reiterated a “market perform” rating on shares of W.P. Carey in a research report on Thursday, June 18th. Wolfe Research upgraded shares of W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 target price for the company in a research report on Monday, June 8th. Finally, BMO Capital Markets cut their price target on W.P. Carey from $86.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, June 18th. Seven investment 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. According to MarketBeat, W.P. Carey has a consensus rating of “Hold” and a consensus price target of $79.38.

W.P. Carey Company 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.