Danske Bank A S acquired a new position in W.P. Carey Inc. (NYSE:WPC – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 133,238 shares of the real estate investment trust’s stock, valued at approximately $9,527,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WPC. Invesco Ltd. grew its holdings in W.P. Carey by 1.6% during the second quarter. Invesco Ltd. now owns 753,196 shares of the real estate investment trust’s stock worth $46,984,000 after acquiring an additional 11,635 shares during the period. Cary Street Partners Financial LLC acquired a new stake in shares of W.P. Carey in the second quarter valued at about $115,000. Bank of Nova Scotia boosted its holdings in W.P. Carey by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 8,164 shares of the real estate investment trust’s stock worth $509,000 after buying an additional 555 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of W.P. Carey during the second quarter worth approximately $3,494,000. Finally, Sei Investments Co. raised its position in shares of W.P. Carey by 73.0% in the second quarter. Sei Investments Co. now owns 96,983 shares of the real estate investment trust’s stock valued at $6,050,000 after buying an additional 40,908 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Evercore set a $77.00 price objective on shares of W.P. Carey in a report on Thursday, July 30th. UBS Group reaffirmed a “neutral” rating on shares of W.P. Carey in a research report on Wednesday, July 29th. Citigroup reiterated a “market perform” rating on shares of W.P. Carey in a report on Thursday, June 18th. Royal Bank Of Canada raised their price objective on shares of 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, Weiss Ratings reiterated a “buy (b-)” rating on shares of W.P. Carey in a research note on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $79.38.
W.P. Carey Stock Down 1.0%
Shares of NYSE WPC opened at $71.31 on Friday. W.P. Carey Inc. has a 1 year low of $63.08 and a 1 year high of $77.22. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.22 and a current ratio of 0.22. The firm’s 50 day moving average price is $72.71 and its 200 day moving average price is $72.53. The firm has a market cap of $16.25 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 3.59 and a beta of 0.75.
W.P. Carey Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.3%. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, June 30th. W.P. Carey’s dividend payout ratio is currently 128.33%.
W.P. Carey 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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