8,865 Shares of W.P. Carey Inc. $WPC Purchased by Ninety One UK Ltd

Ninety One UK Ltd purchased a new stake in W.P. Carey Inc. (NYSE:WPC) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 8,865 shares of the real estate investment trust’s stock, valued at approximately $573,000.

A number of other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of W.P. Carey during the second quarter worth about $2,371,801,000. Dimensional Fund Advisors LP grew its holdings in shares of W.P. Carey by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,348,132 shares of the real estate investment trust’s stock worth $227,539,000 after buying an additional 155,857 shares in the last quarter. Legal & General Group Plc bought a new position in shares of W.P. Carey during the second quarter worth about $189,315,000. Bank of New York Mellon Corp grew its holdings in shares of W.P. Carey by 1.6% during the first quarter. Bank of New York Mellon Corp now owns 2,353,944 shares of the real estate investment trust’s stock worth $159,974,000 after buying an additional 37,649 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in W.P. Carey by 3.0% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,270,499 shares of the real estate investment trust’s stock valued at $162,341,000 after buying an additional 65,284 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WPC shares. Jefferies Financial Group began coverage on W.P. Carey in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $73.00 target price on the stock. Scotiabank reduced their price target on W.P. Carey from $76.00 to $68.00 and set a “sector perform” rating for the company in a research report on Thursday, September 24th. Evercore set a $75.00 price target on W.P. Carey in a research report on Monday, September 21st. Weiss Ratings raised shares of W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 6th. Finally, Barclays raised shares of W.P. Carey from an “underweight” rating to an “equal weight” rating and set a $80.00 price target for the company in a research note on Friday, September 4th. Nine equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.14.

W.P. Carey Stock Up 1.6%

Shares of WPC stock opened at $64.58 on Friday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. W.P. Carey Inc. has a 1 year low of $62.24 and a 1 year high of $77.22. The firm’s fifty day moving average price is $68.14 and its two-hundred day moving average price is $71.36. The firm has a market capitalization of $14.71 billion, a P/E ratio of 22.04, a PEG ratio of 3.21 and a beta of 0.75.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.95 per share. The ex-dividend date was Wednesday, September 30th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.9%. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.94. W.P. Carey’s dividend payout ratio (DPR) is currently 129.69%.

W.P. Carey Profile

W.P. Carey Inc (NYSE: WPC) is a real estate investment trust that owns and manages a diversified portfolio of commercial properties. The company primarily invests in single-tenant, operationally critical properties that are leased to companies under long-term, net lease agreements. These arrangements generally require tenants to pay property taxes, insurance and maintenance costs, subject to the terms of each lease.

Its portfolio has historically included industrial, warehouse, retail, office and self-storage properties, with a focus on assets leased to established businesses across a range of industries.