GSA Capital Partners LLP Acquires New Stake in W.P. Carey Inc. $WPC

Key Points

• GSA Capital Partners acquired 30,908 shares of W.P. Carey worth approximately $2.21 million, while institutional investors collectively own 73.73% of the REIT.
• W.P. Carey raised its quarterly dividend from $0.93 to $0.94 per share, equivalent to an annualized $3.76 dividend and a 5.2% yield.
• Analyst sentiment is mixed but improving: the consensus rating is “Hold” with a $79.38 target price, while several firms recently upgraded the stock and set targets as high as $88.

GSA Capital Partners LLP bought a new position 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 (SEC). The fund bought 30,908 shares of the real estate investment trust's stock, valued at approximately $2,210,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in W.P. Carey by 22.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 153,462 shares of the real estate investment trust's stock worth $10,429,000 after acquiring an additional 27,734 shares during the period. Swedbank AB lifted its holdings in W.P. Carey by 124.2% in the 4th quarter. Swedbank AB now owns 135,849 shares of the real estate investment trust's stock valued at $8,743,000 after acquiring an additional 75,253 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in W.P. Carey in the 4th quarter valued at about $41,638,000. Principal Financial Group Inc. boosted its position in shares of W.P. Carey by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 488,973 shares of the real estate investment trust's stock valued at $33,231,000 after purchasing an additional 17,812 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of W.P. Carey by 372.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 46,644 shares of the real estate investment trust's stock valued at $3,002,000 after purchasing an additional 36,779 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Trading Up 0.2%

Shares of WPC opened at $71.66 on Friday. The business's 50-day moving average price is $73.10 and its 200 day moving average price is $72.43. 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 stock has a market capitalization of $16.32 billion, a P/E ratio of 24.46, a P/E/G ratio of 3.57 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.

W.P. Carey Increases Dividend

The company also recently announced 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 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 dividend yield of 5.2%. W.P. Carey's dividend payout ratio is 128.33%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WPC. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of W.P. Carey in a research note on Friday, July 31st. BNP Paribas Exane upgraded shares of W.P. Carey from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $73.00 to $88.00 in a report on Wednesday, July 29th. Wolfe Research upgraded shares of W.P. Carey from a "peer perform" rating to an "outperform" rating and set a $85.00 target price for the company in a report on Monday, June 8th. Citigroup restated a "market perform" rating on shares of W.P. Carey in a research report on Thursday, June 18th. Finally, Bank of America raised W.P. Carey from an "underperform" rating to a "neutral" rating and upped their price target for the company from $73.00 to $83.00 in a report on Tuesday, June 16th. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $79.38.

W.P. Carey Company 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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