Quantinno Capital Management LP Has $19.09 Million Stake in W.P. Carey Inc. $WPC

Key Points

• Quantinno Capital Management increased its W.P. Carey stake by 61% in the first quarter, owning 280,897 shares valued at approximately $19.09 million. Institutional investors collectively hold 73.73% of the REIT’s stock.
• W.P. Carey raised its quarterly dividend to $0.94 per share, equivalent to $3.76 annually and a 5.1% yield, although its payout ratio remains elevated at 128.33%.
• Analyst sentiment is mixed but improving: the stock has an overall “Hold” rating and an average price target of $79.31, while recent upgrades lifted targets as high as $88. WPC opened at $73.63, near its 50-day moving average.

Quantinno Capital Management LP boosted its position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 61.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 280,897 shares of the real estate investment trust's stock after acquiring an additional 106,456 shares during the quarter. Quantinno Capital Management LP owned 0.13% of W.P. Carey worth $19,090,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in WPC. Invesco Ltd. raised its holdings in shares of W.P. Carey by 1.6% in the 2nd quarter. Invesco Ltd. now owns 753,196 shares of the real estate investment trust's stock valued at $46,984,000 after purchasing an additional 11,635 shares during the period. Cary Street Partners Financial LLC acquired a new stake in W.P. Carey in the 2nd quarter valued at about $115,000. Bank of Nova Scotia grew its holdings in W.P. Carey by 7.3% during the second quarter. Bank of Nova Scotia now owns 8,164 shares of the real estate investment trust's stock worth $509,000 after purchasing an additional 555 shares during the period. Qube Research & Technologies Ltd bought a new position in W.P. Carey during the second quarter worth about $3,494,000. Finally, Sei Investments Co. increased its position in W.P. Carey by 73.0% during the second quarter. Sei Investments Co. now owns 96,983 shares of the real estate investment trust's stock worth $6,050,000 after buying an additional 40,908 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

W.P. Carey Stock Down 0.6%

W.P. Carey stock opened at $73.63 on Friday. The stock has a market cap of $16.77 billion, a P/E ratio of 25.13, a P/E/G ratio of 2.84 and a beta of 0.76. The company has a quick ratio of 0.35, a current ratio of 0.22 and a debt-to-equity ratio of 1.01. W.P. Carey Inc. has a twelve month low of $63.08 and a twelve month high of $77.22. The company's 50-day moving average price is $73.62 and its two-hundred day moving average price is $72.24.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.94 dividend. 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 dividend yield of 5.1%. W.P. Carey's dividend payout ratio (DPR) is currently 128.33%.

Insider Activity at W.P. Carey

In other news, CAO Brian H. Zander sold 433 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $74.00, for a total transaction of $32,042.00. Following the transaction, the chief accounting officer owned 13,882 shares in the company, valued at approximately $1,027,268. This trade represents a 3.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.98% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WPC shares. Citigroup restated a "market perform" rating on shares of W.P. Carey in a research note on Thursday, June 18th. Bank of America upgraded W.P. Carey from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $73.00 to $83.00 in a research note on Tuesday, June 16th. BNP Paribas Exane raised W.P. Carey from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $73.00 to $88.00 in a report on Wednesday. UBS Group restated a "neutral" rating on shares of W.P. Carey in a research note on Wednesday. Finally, Evercore set a $77.00 price target on W.P. Carey in a report on Thursday. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $79.31.

About W.P. Carey

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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