Independent Advisor Alliance Acquires 1,940 Shares of W. P. Carey Inc. (NYSE:WPC)

Independent Advisor Alliance lifted its holdings in W. P. Carey Inc. (NYSE:WPC – Get Rating) by 10.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 20,748 shares of the real estate investment trust’s stock after acquiring an additional 1,940 shares during the quarter. Independent Advisor Alliance’s holdings in W. P. Carey were worth $1,448,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of W. P. Carey by 10.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 7,578 shares of the real estate investment trust’s stock worth $627,000 after acquiring an additional 733 shares during the last quarter. BTC Capital Management Inc. increased its stake in shares of W. P. Carey by 9.5% in the second quarter. BTC Capital Management Inc. now owns 4,656 shares of the real estate investment trust’s stock worth $385,000 after buying an additional 403 shares during the period. Fiera Capital Corp increased its stake in shares of W. P. Carey by 159.9% in the second quarter. Fiera Capital Corp now owns 15,156 shares of the real estate investment trust’s stock worth $1,256,000 after buying an additional 9,325 shares during the period. Ronald Blue Trust Inc. purchased a new position in shares of W. P. Carey in the second quarter worth $56,000. Finally, NorthRock Partners LLC purchased a new position in shares of W. P. Carey in the third quarter worth $421,000. 62.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. StockNews.com assumed coverage on shares of W. P. Carey in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Evercore ISI decreased their target price on shares of W. P. Carey from $90.00 to $87.00 in a research note on Tuesday, September 27th. JMP Securities decreased their target price on shares of W. P. Carey from $93.00 to $86.00 and set a “market outperform” rating on the stock in a research note on Monday, October 24th. Raymond James boosted their price objective on shares of W. P. Carey from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, December 19th. Finally, Capital One Financial reissued an “overweight” rating on shares of W. P. Carey in a research report on Monday, December 5th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, W. P. Carey presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

W. P. Carey Stock Up 0.7 %

NYSE:WPC opened at $84.76 on Wednesday. The firm’s 50-day moving average price is $80.27 and its 200-day moving average price is $80.30. The company has a market capitalization of $17.63 billion, a PE ratio of 33.64, a P/E/G ratio of 13.35 and a beta of 0.73. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.18 and a quick ratio of 0.18. W. P. Carey Inc. has a 1-year low of $67.76 and a 1-year high of $89.63.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were given a $1.065 dividend. The ex-dividend date was Thursday, December 29th. This is an increase from W. P. Carey’s previous quarterly dividend of $1.06. This represents a $4.26 dividend on an annualized basis and a dividend yield of 5.03%. W. P. Carey’s dividend payout ratio is currently 169.05%.

About W. P. Carey

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W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.