Bank of New York Mellon Corp Takes $164.85 Million Position in W.P. Carey Inc. $WPC

Bank of New York Mellon Corp acquired a new position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,305,639 shares of the real estate investment trust's stock, valued at approximately $164,853,000. Bank of New York Mellon Corp owned approximately 1.01% of W.P. Carey as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPC. State Street Corp raised its holdings in shares of W.P. Carey by 1.0% in 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 during the last quarter. Geode Capital Management LLC lifted its position in W.P. Carey by 2.4% during 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 stake in shares of W.P. Carey by 0.3% during the 4th 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 during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of W.P. Carey by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,348,132 shares of the real estate investment trust's stock worth $227,539,000 after buying an additional 155,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of W.P. Carey by 5.1% in the 4th 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 acquiring an additional 143,876 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Stock Up 0.2%

WPC stock opened at $71.31 on Monday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $16.25 billion, a PE ratio of 24.34, a PEG ratio of 3.55 and a beta of 0.75. W.P. Carey Inc. has a 1-year low of $63.08 and a 1-year high of $77.22. The business's 50 day simple moving average is $72.71 and its 200 day simple moving average is $72.55.

W.P. Carey Increases Dividend

The business 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 an increase 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 presently 128.33%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group reiterated a "neutral" rating on shares of W.P. Carey in a report on Wednesday, July 29th. Wells Fargo & Company boosted their price target on W.P. Carey from $77.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, June 1st. Bank of America upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and upped their price objective for the stock from $73.00 to $83.00 in a research note on Tuesday, June 16th. Barclays increased their price objective on W.P. Carey from $78.00 to $80.00 and gave the company an "underweight" rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of W.P. Carey in a research note on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, W.P. Carey currently has an average rating of "Hold" and an average 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.

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