12,618 Shares in W.P. Carey Inc. $WPC Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. acquired a new position in W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,618 shares of the real estate investment trust’s stock, valued at approximately $927,000.

Several other large investors have also bought and sold shares of the company. Commonwealth Retirement Investments LLC purchased a new position in shares of W.P. Carey during the 4th quarter worth approximately $26,000. Osbon Capital Management LLC purchased a new position in shares of W.P. Carey in the 4th quarter valued at approximately $29,000. Headlands Technologies LLC bought a new stake in shares of W.P. Carey during the second quarter valued at approximately $30,000. Wealth Watch Advisors INC bought a new stake in shares of W.P. Carey during the third quarter valued at approximately $33,000. Finally, Avalon Trust Co purchased a new stake in W.P. Carey in the second quarter worth $36,000. 73.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Wolfe Research raised W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research report on Monday, June 8th. BMO Capital Markets reduced their target price on shares of W.P. Carey from $86.00 to $84.00 and set an “outperform” rating on the stock in a research report on Thursday, June 18th. Bank of America upgraded shares of W.P. Carey from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $73.00 to $83.00 in a research note on Tuesday, June 16th. Scotiabank upped their price objective on shares of W.P. Carey from $76.00 to $77.00 and gave the stock a “sector perform” rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company raised 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. Seven 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $79.38.

W.P. Carey Stock Down 1.0%

Shares of W.P. Carey stock opened at $69.84 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. The stock has a market capitalization of $15.91 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 3.51 and a beta of 0.75. W.P. Carey Inc. has a 52-week low of $63.08 and a 52-week high of $77.22. The company has a 50-day simple moving average of $72.46 and a two-hundred day simple moving average of $72.55.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date was Tuesday, June 30th. This is an increase from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s dividend payout ratio (DPR) is presently 128.33%.

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.