Flputnam Investment Management Co. bought a new stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 25,684 shares of the real estate investment trust's stock, valued at approximately $1,836,000.
Several other institutional investors also recently bought and sold shares of the stock. State Street Corp grew its position in shares of W.P. Carey by 1.0% during the third quarter. State Street Corp now owns 12,329,159 shares of the real estate investment trust's stock valued at $844,065,000 after purchasing an additional 119,817 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of W.P. Carey by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 4,795,604 shares of the real estate investment trust's stock worth $307,913,000 after buying an additional 110,306 shares in the last quarter. Invesco Ltd. lifted its position in shares of W.P. Carey by 0.3% in the fourth quarter. Invesco Ltd. now owns 3,904,767 shares of the real estate investment trust's stock worth $251,311,000 after buying an additional 12,305 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in W.P. Carey by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,348,132 shares of the real estate investment trust's stock valued at $227,539,000 after buying an additional 155,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in W.P. Carey by 5.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,947,595 shares of the real estate investment trust's stock valued at $189,707,000 after buying an additional 143,876 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.
W.P. Carey Trading Down 0.3%
Shares of NYSE WPC opened at $71.41 on Tuesday. 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 current ratio of 0.22 and a quick ratio of 0.22. The business's 50 day moving average is $73.05 and its two-hundred day moving average is $72.48. The stock has a market capitalization of $16.27 billion, a P/E ratio of 24.37, a PEG ratio of 3.57 and a beta of 0.75.
W.P. Carey Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors 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 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date was Tuesday, June 30th. W.P. Carey's dividend payout ratio is 128.33%.
Wall Street Analyst Weigh In
WPC has been the topic of a number of research reports. Bank of America raised W.P. Carey from an "underperform" rating to a "neutral" rating and lifted their price objective for the stock from $73.00 to $83.00 in a research note on Tuesday, June 16th. Weiss Ratings reiterated a "buy (b-)" rating on shares of W.P. Carey in a research report on Friday, July 31st. BMO Capital Markets cut their target price on shares of W.P. Carey from $86.00 to $84.00 and set an "outperform" rating for the company in a report on Thursday, June 18th. BNP Paribas Exane upgraded shares of W.P. Carey from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $73.00 to $88.00 in a research report on Wednesday, July 29th. Finally, UBS Group reaffirmed a "neutral" rating on shares of W.P. Carey in a research note on Wednesday, July 29th. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $79.38.
View Our Latest Analysis on W.P. Carey
About W.P. Carey
(
Free Report)
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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