Nykredit A S Makes New $5.74 Million Investment in W.P. Carey Inc. $WPC

Key Points

• Nykredit A/S acquired 80,333 shares of W.P. Carey in the second quarter, valued at approximately $5.74 million. Institutional investors collectively own 73.73% of the REIT.
• W.P. Carey raised its quarterly dividend to $0.95 per share, equivalent to an annualized $3.80 payout and a 5.7% yield.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a target price of $79.15, compared with the stock’s reported $66.23 price.

Nykredit A S bought a new position in W.P. Carey Inc. (NYSE:WPC - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 80,333 shares of the real estate investment trust's stock, valued at approximately $5,744,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brown Lisle Cummings Inc. grew its stake in W.P. Carey by 9.8% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 61,807 shares of the real estate investment trust's stock valued at $4,419,000 after buying an additional 5,493 shares in the last quarter. HORAN Wealth LLC grew its position in shares of W.P. Carey by 7.5% in the second quarter. HORAN Wealth LLC now owns 21,250 shares of the real estate investment trust's stock valued at $1,519,000 after purchasing an additional 1,477 shares in the last quarter. Amundi raised its stake in shares of W.P. Carey by 0.6% during the 2nd quarter. Amundi now owns 905,905 shares of the real estate investment trust's stock valued at $64,772,000 after purchasing an additional 5,711 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of W.P. Carey during the second quarter valued at about $41,568,000. Finally, Ameritas Advisory Services LLC grew its position in W.P. Carey by 221.0% during the second quarter. Ameritas Advisory Services LLC now owns 16,933 shares of the real estate investment trust's stock worth $1,211,000 after buying an additional 11,658 shares in the last quarter. Institutional investors own 73.73% of the company's stock.

W.P. Carey Trading Down 0.0%

Shares of NYSE:WPC opened at $66.23 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.22 and a current ratio of 0.22. W.P. Carey Inc. has a 52-week low of $63.08 and a 52-week high of $77.22. The stock has a market capitalization of $15.09 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 3.29 and a beta of 0.75. The stock's 50-day simple moving average is $71.58 and its two-hundred day simple moving average is $72.08.

W.P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.95 dividend. This is a positive change from W.P. Carey's previous quarterly dividend of $0.94. The ex-dividend date is Wednesday, September 30th. This represents a $3.80 annualized dividend and a dividend yield of 5.7%. W.P. Carey's dividend payout ratio (DPR) is currently 128.33%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WPC shares. Benchmark began coverage on W.P. Carey in a report on Tuesday. They issued a "buy" rating on the stock. Scotiabank lowered their price objective on shares of W.P. Carey from $77.00 to $76.00 and set a "sector perform" rating for the company in a research note on Thursday. BMO Capital Markets dropped their target price on shares of W.P. Carey from $86.00 to $84.00 and set an "outperform" rating for the company in a research report on Thursday, June 18th. Wells Fargo & Company increased their price objective on W.P. Carey from $77.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, June 1st. Finally, Royal Bank Of Canada raised their target price on shares of W.P. Carey from $73.00 to $77.00 and gave the company a "sector perform" rating in a research note on Thursday, July 30th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $79.15.

About W.P. Carey

W.P. Carey Inc NYSE: WPC is a diversified real estate investment trust that owns and manages a portfolio of commercial properties leased to companies under long-term, primarily net lease agreements. Under these arrangements, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate contractual rental income.

The company invests in and provides sale-leaseback and build-to-suit financing solutions for businesses. Its portfolio has historically included industrial and warehouse facilities, retail properties, office buildings, self-storage facilities and other commercial real estate.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.