Saudi Central Bank Has $1.10 Million Stock Holdings in W.P. Carey Inc. $WPC

Saudi Central Bank raised its position in W.P. Carey Inc. (NYSE:WPC) by 89.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 15,350 shares of the real estate investment trust’s stock after buying an additional 7,261 shares during the quarter. Saudi Central Bank’s holdings in W.P. Carey were worth $1,098,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of WPC. Invesco Ltd. grew its stake in shares of W.P. Carey by 1.6% during the 2nd quarter. Invesco Ltd. now owns 753,196 shares of the real estate investment trust’s stock worth $46,984,000 after acquiring an additional 11,635 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of W.P. Carey in the second quarter worth $115,000. Bank of Nova Scotia lifted its position in shares of W.P. Carey by 7.3% in 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 in the last quarter. Qube Research & Technologies Ltd acquired a new position in W.P. Carey during the second quarter worth $3,494,000. Finally, Sei Investments Co. boosted its holdings 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 purchasing an additional 40,908 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada lifted their price target on shares of W.P. Carey from $73.00 to $77.00 and gave the company a “sector perform” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of W.P. Carey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 24th. Bank of America upgraded W.P. Carey from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $73.00 to $83.00 in a report on Tuesday, June 16th. Scotiabank lifted their target price 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. Finally, Evercore set a $77.00 target price on W.P. Carey in a report on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, W.P. Carey presently has an average rating of “Moderate Buy” and an average price target of $79.38.

W.P. Carey Stock Performance

NYSE WPC opened at $69.90 on Thursday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. The firm’s fifty day moving average price is $72.14 and its two-hundred day moving average price is $72.41. W.P. Carey Inc. has a 1 year low of $63.08 and a 1 year high of $77.22. The firm has a market capitalization of $15.92 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 3.52 and a beta of 0.75.

W.P. Carey 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.