Northwestern Mutual Wealth Management Co. Purchases Shares of 9,473 W.P. Carey Inc. $WPC

Northwestern Mutual Wealth Management Co. acquired a new position in shares of W.P. Carey Inc. (NYSE:WPC) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,473 shares of the real estate investment trust’s stock, valued at approximately $677,000.

Several other institutional investors and hedge funds have also recently modified their holdings of WPC. Jacobi Capital Management LLC raised its position in shares of W.P. Carey by 2.5% in the fourth quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 145 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in shares of W.P. Carey by 0.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 21,474 shares of the real estate investment trust’s stock worth $1,459,000 after buying an additional 146 shares during the period. Gen Wealth Partners Inc grew its stake in W.P. Carey by 2.0% in the 4th quarter. Gen Wealth Partners Inc now owns 7,572 shares of the real estate investment trust’s stock valued at $487,000 after buying an additional 146 shares during the last quarter. Turning Point Benefit Group Inc. grew its stake in W.P. Carey by 6.3% in the 4th quarter. Turning Point Benefit Group Inc. now owns 2,511 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 148 shares during the last quarter. Finally, Vanderbilt University raised its holdings in W.P. Carey by 1.1% in the 1st quarter. Vanderbilt University now owns 14,968 shares of the real estate investment trust’s stock valued at $1,017,000 after acquiring an additional 162 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WPC. UBS Group restated a “neutral” rating on shares of W.P. Carey in a research report on Wednesday, July 29th. Evercore set a $77.00 target price on W.P. Carey in a research note on Thursday, July 30th. Wells Fargo & Company lifted their price target on W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Citigroup restated a “market perform” rating on shares of W.P. Carey in a research note on Thursday, June 18th. Finally, Weiss Ratings raised W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $79.38.

W.P. Carey Price Performance

Shares of W.P. Carey stock opened at $71.23 on Thursday. 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 stock has a market capitalization of $16.23 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 3.58 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. The company has a 50-day simple moving average of $72.52 and a two-hundred day simple moving average of $72.58.

W.P. Carey Increases Dividend

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

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.