Sei Investments Co. grew its position in shares of W.P. Carey Inc. (NYSE:WPC – Free Report) by 30.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 142,355 shares of the real estate investment trust’s stock after acquiring an additional 33,060 shares during the quarter. Sei Investments Co. owned about 0.06% of W.P. Carey worth $9,674,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC bought a new stake in W.P. Carey in the fourth quarter worth about $25,000. Commonwealth Retirement Investments LLC purchased a new position in W.P. Carey during the 4th quarter worth approximately $26,000. Osbon Capital Management LLC acquired a new position in W.P. Carey during the fourth quarter valued at $29,000. Headlands Technologies LLC acquired a new position in shares of W.P. Carey in the 2nd quarter valued at about $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in W.P. Carey in the 3rd quarter worth approximately $33,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CAO Brian H. Zander sold 433 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $74.00, for a total value of $32,042.00. Following the transaction, the chief accounting officer owned 13,882 shares of the company’s stock, valued at approximately $1,027,268. This represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.98% of the company’s stock.
W.P. Carey Stock Performance
W.P. Carey Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.94 dividend. 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 5.1%. The ex-dividend date was Tuesday, June 30th. W.P. Carey’s dividend payout ratio is presently 128.33%.
Analysts Set New Price Targets
WPC has been the subject of several analyst reports. Bank of America upgraded W.P. Carey from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $73.00 to $83.00 in a report on Tuesday, June 16th. UBS Group reaffirmed a “neutral” rating on shares of W.P. Carey in a report on Wednesday. Wells Fargo & Company raised their price objective on shares of W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Barclays upped their price target on W.P. Carey from $78.00 to $80.00 and gave the company an “underweight” rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings raised shares of W.P. Carey from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, W.P. Carey has an average rating of “Hold” and a consensus price target of $79.31.
Get Our Latest Analysis on W.P. Carey
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.
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