W.P. Carey Inc. $WPC Stock: Stordahl Capital Management Inc. Reduces Holdings

Stordahl Capital Management Inc. lowered its position in W.P. Carey Inc. (NYSE:WPC) by 52.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,457 shares of the real estate investment trust’s stock after selling 13,699 shares during the period. Stordahl Capital Management Inc.’s holdings in W.P. Carey were worth $805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of W.P. Carey by 22.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 153,462 shares of the real estate investment trust’s stock valued at $10,429,000 after purchasing an additional 27,734 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in W.P. Carey in the second quarter worth $41,568,000. NewEdge Wealth LLC bought a new stake in W.P. Carey in the second quarter worth $1,403,000. The Manufacturers Life Insurance Company bought a new stake in W.P. Carey in the second quarter worth $8,112,000. Finally, Bank of America Corp DE increased its position in W.P. Carey by 2.4% during the first quarter. Bank of America Corp DE now owns 1,365,724 shares of the real estate investment trust’s stock worth $92,815,000 after buying an additional 31,476 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

WPC has been the topic of several recent research reports. Citigroup restated a “market perform” rating on shares of W.P. Carey in a report on Friday, September 25th. UBS Group reiterated a “neutral” rating on shares of W.P. Carey in a research note on Wednesday, July 29th. Benchmark started coverage on W.P. Carey in a research note on Tuesday, September 22nd. They set a “buy” rating for the company. Evercore set a $75.00 price objective on W.P. Carey in a report on Monday, September 21st. Finally, Jefferies Financial Group began coverage on W.P. Carey in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $73.00 price objective on the stock. Nine equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $77.36.

W.P. Carey Stock Performance

WPC traded down $0.61 during trading on Friday, hitting $63.93. The stock had a trading volume of 1,838,068 shares, compared to its average volume of 1,641,998. The firm has a market cap of $14.56 billion, a PE ratio of 21.82, a P/E/G ratio of 3.26 and a beta of 0.75. W.P. Carey Inc. has a 12 month low of $62.24 and a 12 month high of $77.22. 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 company has a 50 day simple moving average of $67.29 and a 200-day simple moving average of $71.13.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.95 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $3.80 annualized dividend and a yield of 5.9%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.94. W.P. Carey’s dividend payout ratio (DPR) is presently 129.69%.

W.P. Carey 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.