Caisse de depot et placement du Quebec Invests $76.91 Million in W.P. Carey Inc. $WPC

Key Points

• Caisse de dépôt et placement du Québec acquired 1.08 million W.P. Carey shares worth approximately $76.9 million, representing about 0.47% of the REIT. Institutional investors collectively own 73.73% of the company.
• Analyst sentiment remains mixed, with seven Buy, six Hold and one Sell ratings. The consensus rating is Hold, with an average price target of $79.38 versus the reported share price of $70.42.
• W.P. Carey increased its quarterly dividend to $0.94 per share, or $3.76 annualized, producing a 5.3% yield. The company is a diversified net-lease REIT focused on single-tenant commercial properties.

Caisse de depot et placement du Quebec acquired a new stake in shares of 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 and Exchange Commission (SEC). The institutional investor acquired 1,075,671 shares of the real estate investment trust's stock, valued at approximately $76,910,000. Caisse de depot et placement du Quebec owned approximately 0.47% of W.P. Carey as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Laurel Wealth Advisors LLC purchased a new stake in shares of W.P. Carey during the fourth quarter valued at $25,000. Commonwealth Retirement Investments LLC purchased a new position in W.P. Carey in the 4th quarter worth $26,000. Osbon Capital Management LLC purchased a new position in W.P. Carey in the 4th quarter worth $29,000. Headlands Technologies LLC acquired a new stake in W.P. Carey during the 2nd quarter worth about $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in W.P. Carey during the 3rd quarter valued at about $33,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on WPC shares. Citigroup reissued a "market perform" rating on shares of W.P. Carey in a report on Thursday, June 18th. Barclays upped their target price on W.P. Carey from $78.00 to $80.00 and gave the company an "underweight" rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada increased their price target on shares of W.P. Carey from $73.00 to $77.00 and gave the stock a "sector perform" rating in a report on Thursday, July 30th. Wolfe Research raised shares of W.P. Carey from a "peer perform" rating to an "outperform" rating and set a $85.00 price target for the company in a research report on Monday, June 8th. Finally, BMO Capital Markets decreased their price objective on shares of W.P. Carey from $86.00 to $84.00 and set an "outperform" rating for the company in a research note on Thursday, June 18th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $79.38.

W.P. Carey Trading Down 1.0%

WPC stock opened at $70.42 on Friday. W.P. Carey Inc. has a 52-week low of $63.08 and a 52-week high of $77.22. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01. The firm has a market cap of $16.04 billion, a P/E ratio of 24.03, a PEG ratio of 3.55 and a beta of 0.75. The company's 50-day simple moving average is $72.51 and its 200-day simple moving average is $72.58.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders 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 yield of 5.3%. The ex-dividend date was Tuesday, June 30th. W.P. Carey's dividend payout ratio (DPR) is currently 128.33%.

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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