Quantbot Technologies LP Purchases Shares of 84,662 W.P. Carey Inc. $WPC

Key Points

• Quantbot Technologies acquired 84,662 shares of W.P. Carey during the second quarter, valued at approximately $6.05 million. Institutional investors collectively own 73.73% of the REIT’s stock.
• Analyst sentiment remains mixed: seven analysts rate WPC a Buy, six rate it Hold and one rates it Sell, producing an average rating of Hold and an average price target of $79.38.
• W.P. Carey’s shares opened at $71.31, while the company raised its quarterly dividend to $0.94 per share, equivalent to a 5.3% annualized yield.

Quantbot Technologies LP acquired a new stake in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 84,662 shares of the real estate investment trust's stock, valued at approximately $6,053,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of WPC. Laurel Wealth Advisors LLC bought a new position in W.P. Carey during the 4th quarter worth approximately $25,000. Commonwealth Retirement Investments LLC bought a new stake in W.P. Carey in the fourth quarter valued at approximately $26,000. Osbon Capital Management LLC bought a new stake in W.P. Carey in the fourth quarter valued at approximately $29,000. Headlands Technologies LLC bought a new stake in W.P. Carey in the second quarter valued at approximately $30,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of W.P. Carey during the third quarter valued at approximately $33,000. Institutional investors own 73.73% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WPC shares. Barclays raised their target price on shares of W.P. Carey from $78.00 to $80.00 and gave the stock an "underweight" rating in a report on Wednesday, July 22nd. Evercore set a $77.00 price target on shares of W.P. Carey in a report on Thursday, July 30th. BMO Capital Markets dropped their price target 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. BNP Paribas Exane raised shares of W.P. Carey from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $73.00 to $88.00 in a report on Wednesday, July 29th. Finally, UBS Group restated a "neutral" rating on shares of W.P. Carey in a research report on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $79.38.

W.P. Carey Trading Down 1.0%

WPC opened at $71.31 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01. 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 cap of $16.25 billion, a PE ratio of 24.34, a PEG ratio of 3.55 and a beta of 0.75. The business has a 50 day moving average of $72.71 and a 200-day moving average of $72.53.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.94 per share. This is an increase from W.P. Carey's previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, June 30th. W.P. Carey's payout ratio is 128.33%.

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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