77,339 Shares in W.P. Carey Inc. $WPC Acquired by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management acquired 77,339 shares of W.P. Carey during the second quarter, a stake valued at approximately $5.53 million. Institutional investors and hedge funds collectively own 73.73% of the REIT.
• W.P. Carey raised its quarterly dividend to $0.94 per share, or $3.76 annually, representing a 5.3% yield; however, its dividend payout ratio stands at 128.33%.
• WPC shares opened at $71.31, compared with analysts’ consensus price target of $79.38. The stock carries an overall “Hold” rating, with seven Buy, six Hold, and one Sell recommendations.

Landscape Capital Management L.L.C. purchased a new stake in W.P. Carey Inc. (NYSE:WPC - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 77,339 shares of the real estate investment trust's stock, valued at approximately $5,530,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in W.P. Carey during the 2nd quarter valued at $2,371,801,000. State Street Corp lifted its holdings in W.P. Carey by 1.0% in 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 buying an additional 119,817 shares in the last quarter. Geode Capital Management LLC lifted its holdings in W.P. Carey by 2.4% in 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 buying an additional 110,306 shares in the last quarter. Invesco Ltd. boosted its position in W.P. Carey by 0.3% in the 4th quarter. Invesco Ltd. now owns 3,904,767 shares of the real estate investment trust's stock valued at $251,311,000 after buying an additional 12,305 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of 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 acquiring an additional 155,857 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W.P. Carey Price Performance

Shares of WPC opened at $71.31 on Friday. The firm has a market cap of $16.25 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 3.59 and a beta of 0.75. The stock has a 50 day moving average of $72.71 and a 200-day moving average of $72.53. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. W.P. Carey Inc. has a 52 week low of $63.08 and a 52 week high of $77.22.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued 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 of this dividend was Tuesday, June 30th. W.P. Carey's dividend payout ratio is presently 128.33%.

Analyst Ratings Changes

Several research firms have issued reports on WPC. Scotiabank lifted their price objective on W.P. Carey from $76.00 to $77.00 and gave the stock a "sector perform" rating in a report on Thursday, August 13th. Evercore set a $77.00 price target on shares of W.P. Carey in a research report on Thursday, July 30th. Weiss Ratings restated a "buy (b-)" rating on shares of W.P. Carey in a research note on Friday, July 31st. Royal Bank Of Canada upped their price target 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, Barclays increased their price objective on shares of W.P. Carey from $78.00 to $80.00 and gave the company an "underweight" rating in a research note on Wednesday, July 22nd. 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 stock. Based on data from MarketBeat.com, W.P. Carey presently has an average rating of "Hold" and a consensus price target of $79.38.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source