RB Capital Management LLC Purchases Shares of 11,061 W.P. Carey Inc. $WPC

RB Capital Management LLC acquired a new stake in shares of W.P. Carey Inc. (NYSE:WPC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,061 shares of the real estate investment trust’s stock, valued at approximately $791,000.

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

W.P. Carey Stock Up 0.2%

Shares of W.P. Carey stock opened at $70.53 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. W.P. Carey Inc. has a 12-month low of $63.08 and a 12-month high of $77.22. The company has a market cap of $16.07 billion, a P/E ratio of 24.07, a PEG ratio of 3.51 and a beta of 0.75. The company’s fifty day simple moving average is $72.49 and its two-hundred day simple moving average is $72.56.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.94 per share. This is an increase 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 was Tuesday, June 30th. W.P. Carey’s dividend payout ratio is presently 128.33%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WPC shares. Bank of America raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $73.00 to $83.00 in a report on Tuesday, June 16th. Citigroup reissued a “market perform” rating on shares of W.P. Carey in a research note on Thursday, June 18th. Weiss Ratings raised W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Royal Bank Of Canada boosted their price target on W.P. Carey from $73.00 to $77.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Finally, Evercore set a $77.00 price target on W.P. Carey in a research report on Thursday, July 30th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price 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.