Amundi Purchases 103,884 Shares of W.P. Carey Inc. $WPC

Key Points

• Amundi increased its W.P. Carey stake by 13% in the first quarter, purchasing 103,884 additional shares and bringing its total holdings to 900,194 shares worth approximately $61.2 million. Institutional investors collectively own 73.73% of the REIT.
• W.P. Carey raised its quarterly dividend to $0.94 per share, equivalent to $3.76 annually and a 5.1% yield, although its payout ratio remains elevated at 128.33%.
• Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating and an average price target of $79.31, compared with a recent share price of $73.63.

Amundi boosted its holdings in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 13.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 900,194 shares of the real estate investment trust's stock after acquiring an additional 103,884 shares during the quarter. Amundi owned approximately 0.40% of W.P. Carey worth $61,177,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Invesco Ltd. boosted its stake in shares of W.P. Carey by 1.6% during the 2nd quarter. Invesco Ltd. now owns 753,196 shares of the real estate investment trust's stock worth $46,984,000 after acquiring an additional 11,635 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of W.P. Carey in the second quarter worth $115,000. Bank of Nova Scotia lifted its stake in shares of W.P. Carey by 7.3% in the second quarter. Bank of Nova Scotia now owns 8,164 shares of the real estate investment trust's stock worth $509,000 after buying an additional 555 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in shares of W.P. Carey during the 2nd quarter worth $3,494,000. Finally, Sei Investments Co. boosted its holdings in shares of W.P. Carey by 73.0% during the 2nd quarter. Sei Investments Co. now owns 96,983 shares of the real estate investment trust's stock worth $6,050,000 after buying an additional 40,908 shares during the period. 73.73% of the stock is owned by institutional investors.

W.P. Carey Price Performance

Shares of W.P. Carey stock opened at $73.63 on Monday. 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 company has a market cap of $16.77 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 2.84 and a beta of 0.75. The firm has a fifty day moving average price of $73.62 and a two-hundred day moving average price of $72.28. W.P. Carey Inc. has a fifty-two week low of $63.08 and a fifty-two week high of $77.22.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.94 per share. This is an increase from W.P. Carey's previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Tuesday, June 30th. W.P. Carey's dividend payout ratio (DPR) is currently 128.33%.

Insider Buying and Selling at W.P. Carey

In related news, CAO Brian H. Zander sold 433 shares of the stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $74.00, for a total value of $32,042.00. Following the completion of the sale, the chief accounting officer owned 13,882 shares in the company, valued at approximately $1,027,268. This trade represents a 3.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WPC shares. Barclays raised 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 note on Wednesday, July 22nd. Bank of America upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and upped their price target for the company from $73.00 to $83.00 in a report on Tuesday, June 16th. BMO Capital Markets lowered their price target on 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. Royal Bank Of Canada lifted their price objective on W.P. Carey from $73.00 to $77.00 and gave the stock a "sector perform" rating in a research note on Thursday. Finally, Wolfe Research raised W.P. Carey from a "peer perform" rating to an "outperform" rating and set a $85.00 price objective for the company in a research report on Monday, June 8th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $79.31.

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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