Jupiter Topco LLC acquired a new stake in shares of W.P. Carey Inc. (NYSE:WPC – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 16,652 shares of the real estate investment trust’s stock, valued at approximately $1,191,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of W.P. Carey in the second quarter worth $2,371,801,000. State Street Corp grew its holdings in W.P. Carey by 1.0% during the 3rd quarter. State Street Corp now owns 12,329,159 shares of the real estate investment trust’s stock worth $844,065,000 after acquiring an additional 119,817 shares in the last quarter. Geode Capital Management LLC grew its holdings in W.P. Carey by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,795,604 shares of the real estate investment trust’s stock worth $307,913,000 after acquiring an additional 110,306 shares in the last quarter. Invesco Ltd. grew its holdings in W.P. Carey by 0.3% during the 4th quarter. Invesco Ltd. now owns 3,904,767 shares of the real estate investment trust’s stock worth $251,311,000 after acquiring an additional 12,305 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of W.P. Carey by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,348,132 shares of the real estate investment trust’s stock worth $227,539,000 after purchasing an additional 155,857 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on WPC. Barclays upgraded shares of W.P. Carey from an “underweight” rating to an “equal weight” rating and set a $80.00 target price on the stock in a research note on Friday. Evercore set a $77.00 price objective on W.P. Carey in a report on Thursday, July 30th. Royal Bank Of Canada increased their target price on W.P. Carey from $73.00 to $77.00 and gave the stock a “sector perform” rating in a report on Thursday, July 30th. BMO Capital Markets reduced their price target on shares of W.P. Carey from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, June 18th. Finally, BNP Paribas Exane raised shares of W.P. Carey from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $73.00 to $88.00 in a report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, W.P. Carey has an average rating of “Moderate Buy” and a consensus target price of $79.38.
W.P. Carey Trading Up 0.1%
Shares of NYSE WPC opened at $70.33 on Friday. The company has a market cap of $16.02 billion, a price-to-earnings ratio of 24.00, a price-to-earnings-growth ratio of 3.51 and a beta of 0.75. W.P. Carey Inc. has a 12-month low of $63.08 and a 12-month high of $77.22. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. The stock’s 50 day simple moving average is $72.24 and its 200 day simple moving average is $72.47.
W.P. Carey Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.94 dividend. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, June 30th. W.P. Carey’s dividend payout ratio is 128.33%.
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.
Featured Articles
- Five stocks we like better than W.P. Carey
- Zscaler’s Strong Quarter Still Left Investors Waiting on 1 Key Signal
- Is Duolingo the Next Netflix-Style Comeback Story?
- GitLab’s AI Tools Are Starting to Turn Developer Demand Into Real Revenue
- GTA VI’s Console Problem Isn’t Take-Two’s Problem
Want to see what other hedge funds are holding WPC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for W.P. Carey Inc. (NYSE:WPC – Free Report).
Receive News & Ratings for W.P. Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W.P. Carey and related companies with MarketBeat.com's FREE daily email newsletter.
