Andra AP fonden Purchases 46,359 Shares of W.P. Carey Inc. $WPC

Key Points

• Andra AP fonden significantly increased its W.P. Carey stake, buying 46,359 additional shares in the second quarter to hold 47,300 shares valued at approximately $3.38 million. Institutional investors collectively own 73.73% of the company.
• Analysts maintain a generally positive view of W.P. Carey, with a consensus rating of “Moderate Buy” and an average price target of $78.71, compared with the stock’s reported opening price of $66.57.
• W.P. Carey raised its quarterly dividend to $0.95 per share, or $3.80 annually, representing a 5.7% yield; however, its payout ratio is elevated at 128.33%.

Andra AP fonden boosted its position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 4,926.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,300 shares of the real estate investment trust's stock after acquiring an additional 46,359 shares during the period. Andra AP fonden's holdings in W.P. Carey were worth $3,382,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Tidal Investments LLC grew its position in W.P. Carey by 23.5% during the second quarter. Tidal Investments LLC now owns 14,635 shares of the real estate investment trust's stock worth $1,046,000 after buying an additional 2,785 shares in the last quarter. MCF Advisors LLC raised its holdings in shares of W.P. Carey by 96.1% in the 2nd quarter. MCF Advisors LLC now owns 2,126 shares of the real estate investment trust's stock valued at $154,000 after acquiring an additional 1,042 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of W.P. Carey in the 2nd quarter valued at about $615,000. Engineers Gate Manager LP boosted its position in shares of W.P. Carey by 1,724.6% during the 2nd quarter. Engineers Gate Manager LP now owns 84,861 shares of the real estate investment trust's stock valued at $6,068,000 after acquiring an additional 80,210 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of W.P. Carey by 68.6% during the 2nd quarter. NewEdge Advisors LLC now owns 14,185 shares of the real estate investment trust's stock valued at $1,014,000 after acquiring an additional 5,772 shares during the last quarter. Institutional investors own 73.73% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. BMO Capital Markets reduced their price objective 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. Wolfe Research raised W.P. Carey from a "peer perform" rating to an "outperform" rating and set a $85.00 target price on the stock in a research note on Monday, June 8th. Jefferies Financial Group initiated coverage on W.P. Carey in a report on Tuesday. They set a "buy" rating and a $73.00 price target on the stock. UBS Group reaffirmed a "neutral" rating on shares of W.P. Carey in a research report on Wednesday, July 29th. Finally, Scotiabank dropped their price objective on W.P. Carey from $77.00 to $76.00 and set a "sector perform" rating for the company in a report on Thursday, September 17th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $78.71.

W.P. Carey Price Performance

WPC stock opened at $66.57 on Thursday. W.P. Carey Inc. has a 1 year low of $63.08 and a 1 year high of $77.22. The company has a market cap of $15.17 billion, a P/E ratio of 22.72, a PEG ratio of 3.32 and a beta of 0.75. The firm has a 50-day moving average of $71.37 and a 200 day moving average of $71.99. 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be given a $0.95 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.7%. This is a boost from W.P. Carey's previous quarterly dividend of $0.94. W.P. Carey's payout ratio is currently 128.33%.

W.P. Carey Company Profile

W.P. Carey Inc NYSE: WPC is a diversified real estate investment trust that owns and manages a portfolio of commercial properties leased to companies under long-term, primarily net lease agreements. Under these arrangements, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate contractual rental income.

The company invests in and provides sale-leaseback and build-to-suit financing solutions for businesses. Its portfolio has historically included industrial and warehouse facilities, retail properties, office buildings, self-storage facilities and other commercial real estate.

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