Capital Square LLC bought 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 Form 13F filing with the Securities and Exchange Commission. The fund bought 37,841 shares of the real estate investment trust's stock, valued at approximately $2,712,000. W.P. Carey comprises approximately 1.2% of Capital Square LLC's investment portfolio, making the stock its 20th biggest holding.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WPC. BlackRock Inc. purchased a new stake in shares of W.P. Carey in the second quarter worth approximately $2,371,801,000. Invesco Ltd. increased its holdings in W.P. Carey by 416.8% during the 3rd quarter. Invesco Ltd. now owns 3,892,462 shares of the real estate investment trust's stock worth $263,014,000 after purchasing an additional 3,139,266 shares during the period. Norges Bank bought a new stake in W.P. Carey during the 4th quarter valued at $184,035,000. Bank of New York Mellon Corp bought a new stake in W.P. Carey during the 2nd quarter valued at $164,853,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of W.P. Carey by 31,629.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,163,285 shares of the real estate investment trust's stock worth $139,229,000 after buying an additional 2,156,467 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Evercore set a $77.00 price target on W.P. Carey in a research report on Thursday, July 30th. Weiss Ratings reiterated a "buy (b-)" rating on shares of W.P. Carey in a report on Friday, July 31st. Scotiabank upped their price objective on W.P. Carey from $76.00 to $77.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 13th. Barclays upped their price objective on W.P. Carey from $78.00 to $80.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 22nd. Finally, Citigroup reiterated a "market perform" rating on shares of W.P. Carey in a research note on Thursday, June 18th. 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 company's stock. Based on data from MarketBeat, W.P. Carey presently has an average rating of "Hold" and a consensus target price of $79.38.
View Our Latest Report on WPC
W.P. Carey Trading Up 0.2%
NYSE:WPC opened at $71.31 on Monday. W.P. Carey Inc. has a 12 month low of $63.08 and a 12 month high of $77.22. The firm has a fifty day simple moving average of $72.71 and a 200-day simple moving average of $72.55. 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 company has a market capitalization of $16.25 billion, a P/E ratio of 24.34, a PEG ratio of 3.55 and a beta of 0.75.
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 issued a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from W.P. Carey's previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a yield of 5.3%. W.P. Carey's dividend payout ratio is currently 128.33%.
W.P. Carey Company Profile
(
Free Report)
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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