Meiji Yasuda Asset Management Co Ltd. bought a new position in W.P. Carey Inc. (NYSE:WPC – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,830 shares of the real estate investment trust’s stock, valued at approximately $560,000.
A number of other large investors have also recently modified their holdings of the company. Jacobi Capital Management LLC raised its position in W.P. Carey by 2.5% during the 4th quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 145 shares in the last quarter. Kestra Private Wealth Services LLC grew its position in shares of W.P. Carey by 0.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 21,474 shares of the real estate investment trust’s stock worth $1,459,000 after buying an additional 146 shares in the last quarter. Gen Wealth Partners Inc grew its position in shares of W.P. Carey by 2.0% during the 4th quarter. Gen Wealth Partners Inc now owns 7,572 shares of the real estate investment trust’s stock worth $487,000 after buying an additional 146 shares in the last quarter. Turning Point Benefit Group Inc. increased its stake in shares of W.P. Carey by 6.3% during the fourth quarter. Turning Point Benefit Group Inc. now owns 2,511 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 148 shares during the period. Finally, Vanderbilt University increased its stake in shares of W.P. Carey by 1.1% during the first quarter. Vanderbilt University now owns 14,968 shares of the real estate investment trust’s stock valued at $1,017,000 after buying an additional 162 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.
W.P. Carey Trading Up 0.2%
Shares of NYSE WPC opened at $71.76 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22. The stock has a market capitalization of $16.35 billion, a P/E ratio of 24.49, a price-to-earnings-growth ratio of 3.57 and a beta of 0.75. W.P. Carey Inc. has a 1-year low of $63.08 and a 1-year high of $77.22. The business has a fifty day moving average price of $72.54 and a 200 day moving average price of $72.58.
W.P. Carey Increases Dividend
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. BNP Paribas Exane upgraded W.P. Carey from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $73.00 to $88.00 in a report on Wednesday, July 29th. Wolfe Research raised shares of W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research report on Monday, June 8th. UBS Group restated a “neutral” rating on shares of W.P. Carey in a report on Wednesday, July 29th. Evercore set a $77.00 price target on shares of W.P. Carey in a research report on Thursday, July 30th. Finally, Bank of America upgraded shares of W.P. Carey from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $73.00 to $83.00 in a research note on Tuesday, June 16th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, W.P. Carey has an average rating of “Hold” and a consensus target price of $79.38.
View Our Latest Stock Analysis on WPC
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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