Raymond James Financial Services Advisors Inc. Purchases 7,454 Shares of W. P. Carey Inc. (NYSE:WPC)

Raymond James Financial Services Advisors Inc. increased its position in shares of W. P. Carey Inc. (NYSE:WPCGet Rating) by 4.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 166,954 shares of the real estate investment trust’s stock after acquiring an additional 7,454 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.09% of W. P. Carey worth $11,654,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Better Money Decisions LLC bought a new stake in W. P. Carey during the 2nd quarter worth $25,000. Fairfield Bush & CO. acquired a new position in W. P. Carey during the 1st quarter worth about $26,000. Acadian Asset Management LLC acquired a new position in W. P. Carey during the 1st quarter worth about $26,000. SJS Investment Consulting Inc. acquired a new position in W. P. Carey during the 3rd quarter worth about $33,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in W. P. Carey during the 2nd quarter worth about $40,000. Institutional investors own 62.73% of the company’s stock.

W. P. Carey Stock Up 3.2 %

WPC stock opened at $80.61 on Friday. The stock’s 50 day simple moving average is $78.95 and its 200 day simple moving average is $80.39. W. P. Carey Inc. has a fifty-two week low of $67.76 and a fifty-two week high of $89.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market cap of $16.77 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 12.81 and a beta of 0.73.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Investors of record on Friday, December 30th will be paid a dividend of $1.065 per share. 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 yield of 5.28%. The ex-dividend date is Thursday, December 29th. W. P. Carey’s dividend payout ratio is 169.05%.

Analysts Set New Price Targets

Several brokerages have commented on WPC. Evercore ISI cut their target price on W. P. Carey from $90.00 to $87.00 in a report on Tuesday, September 27th. Capital One Financial reaffirmed an “overweight” rating on shares of W. P. Carey in a report on Monday, December 5th. JMP Securities dropped their price objective on 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 W. P. Carey from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, December 19th. Finally, StockNews.com assumed coverage on W. P. Carey in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.00.

About W. P. Carey

(Get Rating)

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.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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