Commerce Bank 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 & Exchange Commission. The institutional investor acquired 29,307 shares of the real estate investment trust's stock, valued at approximately $2,095,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of W.P. Carey in the 2nd quarter worth approximately $677,000. Quantbot Technologies LP acquired a new position in shares of W.P. Carey during the second quarter worth approximately $6,053,000. Landscape Capital Management L.L.C. bought a new position in W.P. Carey in the 2nd quarter worth approximately $5,530,000. Korea Investment CORP acquired a new stake in W.P. Carey in the 2nd quarter valued at approximately $22,011,000. Finally, EP Wealth Advisors LLC bought a new stake in W.P. Carey during the 2nd quarter valued at $921,000. Institutional investors and hedge funds own 73.73% of the company's stock.
W.P. Carey Stock Up 0.2%
Shares of NYSE:WPC opened at $71.76 on Wednesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.22 and a current ratio of 0.22. The company has a market cap of $16.35 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 3.57 and a beta of 0.75. W.P. Carey Inc. has a 52 week low of $63.08 and a 52 week high of $77.22. The firm has a 50 day simple moving average of $72.54 and a 200 day simple moving average of $72.58.
W.P. Carey Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.94 per share. 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 5.2%. W.P. Carey's payout ratio is presently 128.33%.
Analyst Ratings Changes
A number of analysts have commented on the stock. Evercore set a $77.00 price target on shares of W.P. Carey in a research report on Thursday, July 30th. Barclays raised their price objective on shares of W.P. Carey from $78.00 to $80.00 and gave the company an "underweight" rating in a research report on Wednesday, July 22nd. Citigroup reissued a "market perform" rating on shares of W.P. Carey in a research note on Thursday, June 18th. BNP Paribas Exane raised W.P. Carey from a "neutral" rating to an "outperform" rating and upped their price target for the company from $73.00 to $88.00 in a report on Wednesday, July 29th. Finally, Wells Fargo & Company lifted their target price on W.P. Carey from $77.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, W.P. Carey presently has an average rating of "Hold" and a consensus price target of $79.38.
View Our Latest Stock Analysis on WPC
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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