Hsbc Holdings PLC Takes Position in W.P. Carey Inc. $WPC

Key Points

• Hsbc Holdings PLC acquired 938,424 shares of W.P. Carey in the second quarter, worth approximately $67.1 million and representing about 0.41% of the REIT. Institutional investors collectively own 73.73% of the company.
• W.P. Carey shares opened at $71.23, below the consensus analyst target of $79.38. Analysts’ overall rating is “Hold,” with seven Buy, six Hold, and one Sell recommendation.
• The company raised its quarterly dividend to $0.94 per share, or $3.76 annualized, resulting in a 5.3% yield. However, its payout ratio is elevated at 128.33%.

Hsbc Holdings PLC acquired a new position in W.P. Carey Inc. (NYSE:WPC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 938,424 shares of the real estate investment trust's stock, valued at approximately $67,142,000. Hsbc Holdings PLC owned approximately 0.41% of W.P. Carey at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Invesco Ltd. increased its position in W.P. Carey by 1.6% in the second quarter. Invesco Ltd. now owns 753,196 shares of the real estate investment trust's stock worth $46,984,000 after buying an additional 11,635 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of W.P. Carey during the 2nd quarter valued at about $115,000. Bank of Nova Scotia grew its stake in shares of W.P. Carey by 7.3% during the 2nd quarter. Bank of Nova Scotia now owns 8,164 shares of the real estate investment trust's stock valued at $509,000 after acquiring an additional 555 shares during the period. Qube Research & Technologies Ltd bought a new position in shares of W.P. Carey during the 2nd quarter valued at approximately $3,494,000. Finally, Sei Investments Co. increased its holdings in W.P. Carey by 73.0% in the 2nd quarter. Sei Investments Co. now owns 96,983 shares of the real estate investment trust's stock worth $6,050,000 after acquiring an additional 40,908 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

W.P. Carey Stock Down 0.8%

Shares of WPC opened at $71.23 on Thursday. The business's 50 day moving average is $72.52 and its 200 day moving average is $72.58. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. W.P. Carey Inc. has a 12-month low of $63.08 and a 12-month high of $77.22. The company has a market capitalization of $16.23 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 3.58 and a beta of 0.75.

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 dividend of $0.94 per share. This is an increase from W.P. Carey's previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $3.76 dividend on an annualized basis and a yield of 5.3%. W.P. Carey's payout ratio is 128.33%.

Analyst Ratings Changes

WPC has been the topic of a number of recent analyst reports. UBS Group restated a "neutral" rating on shares of W.P. Carey in a research note on Wednesday, July 29th. Bank of America upgraded shares of W.P. Carey from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $73.00 to $83.00 in a research report on Tuesday, June 16th. Evercore set a $77.00 price objective on shares of W.P. Carey in a research report on Thursday, July 30th. Wells Fargo & Company lifted their target price on shares of W.P. Carey from $77.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, June 1st. Finally, Royal Bank Of Canada upped their target price 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. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price 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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