W.P. Carey Inc. $WPC Position Boosted by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its W.P. Carey stake by 6,982.6% in the second quarter, acquiring 27.4 million additional shares and ending with approximately 12.18% ownership valued at $1.98 billion.
• Institutional investors collectively own 73.73% of W.P. Carey, while several smaller investment firms established new positions during recent quarters.
• Analysts maintain a “Moderate Buy” consensus, with seven Buy and seven Hold ratings and an average price target of $79.38; the stock opened at $69.13, below its 12-month high of $77.22.

California State Teachers Retirement System boosted its stake in W.P. Carey Inc. (NYSE:WPC - Free Report) by 6,982.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,759,661 shares of the real estate investment trust's stock after buying an additional 27,367,721 shares during the quarter. California State Teachers Retirement System owned approximately 12.18% of W.P. Carey worth $1,984,816,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in WPC. Commonwealth Retirement Investments LLC bought a new position in shares of W.P. Carey in the 4th quarter valued at approximately $26,000. Osbon Capital Management LLC acquired a new position in W.P. Carey in the 4th quarter valued at approximately $29,000. Headlands Technologies LLC bought a new position in W.P. Carey in the second quarter worth $30,000. Wealth Watch Advisors INC acquired a new stake in shares of W.P. Carey during the 3rd quarter valued at about $33,000. Finally, LGT Financial Advisors LLC bought a new stake in shares of W.P. Carey in the 3rd quarter valued at approximately $34,000. Institutional investors own 73.73% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on WPC. Scotiabank lifted their price objective on W.P. Carey from $76.00 to $77.00 and gave the company a "sector perform" rating in a research report on Thursday, August 13th. Evercore set a $77.00 price target on W.P. Carey in a research note on Thursday, July 30th. Citigroup restated a "market perform" rating on shares of W.P. Carey in a report on Thursday, June 18th. Wells Fargo & Company increased their price target 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 boosted their price objective on shares of W.P. Carey from $73.00 to $77.00 and gave the company a "sector perform" rating in a research report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $79.38.

W.P. Carey Stock Performance

NYSE:WPC opened at $69.13 on Friday. The stock's 50-day simple moving average is $72.07 and its 200 day simple moving average is $72.37. W.P. Carey Inc. has a twelve month low of $63.08 and a twelve month high of $77.22. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $15.75 billion, a PE ratio of 23.59, a price-to-earnings-growth ratio of 3.47 and a beta of 0.75.

W.P. Carey Company Profile

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.

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