Te Ahumairangi Investment Management Ltd bought a new stake in W.P. Carey Inc. (NYSE:WPC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 71,217 shares of the real estate investment trust's stock, valued at approximately $5,092,000.
Other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in W.P. Carey in the second quarter worth $2,371,801,000. Invesco Ltd. lifted its position in W.P. Carey by 416.8% in the 3rd quarter. Invesco Ltd. now owns 3,892,462 shares of the real estate investment trust's stock valued at $263,014,000 after purchasing an additional 3,139,266 shares during the last quarter. Norges Bank acquired a new position in W.P. Carey during the 4th quarter valued at about $184,035,000. Bank of New York Mellon Corp acquired a new stake in shares of W.P. Carey in the second quarter valued at approximately $164,853,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of W.P. Carey by 31,629.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,163,285 shares of the real estate investment trust's stock valued at $139,229,000 after buying an additional 2,156,467 shares during the last quarter. Institutional investors own 73.73% of the company's stock.
Analyst Ratings Changes
WPC has been the topic of several analyst reports. Citigroup restated a "market perform" rating on shares of W.P. Carey in a research report on Thursday, June 18th. Barclays increased their target price on shares of W.P. Carey from $78.00 to $80.00 and gave the company an "underweight" rating in a research report on Wednesday, July 22nd. Wells Fargo & Company boosted their price objective on W.P. Carey from $77.00 to $80.00 and gave the stock an "overweight" rating in a research note on Monday, June 1st. UBS Group reissued a "neutral" rating on shares of W.P. Carey in a research note on Wednesday, July 29th. Finally, BNP Paribas Exane raised W.P. Carey from a "neutral" rating to an "outperform" rating and upped their price target for the company from $73.00 to $88.00 in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, W.P. Carey has an average rating of "Hold" and a consensus target price of $79.38.
Read Our Latest Stock Analysis on WPC
W.P. Carey Price Performance
NYSE WPC opened at $71.31 on Monday. The company has a 50 day simple moving average of $72.71 and a 200-day simple moving average of $72.55. W.P. Carey Inc. has a 52-week low of $63.08 and a 52-week high of $77.22. The firm has a market capitalization of $16.25 billion, a price-to-earnings ratio of 24.34, a price-to-earnings-growth ratio of 3.55 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22.
W.P. Carey Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.94 per share. This is a positive change from W.P. Carey's previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Tuesday, June 30th. W.P. Carey's dividend payout ratio is 128.33%.
W.P. Carey Profile
(
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.
Further Reading
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).
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