W.P. Carey Inc. $WPC Stock Sold by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. cut its holdings in W.P. Carey Inc. (NYSE:WPC) by 11.5% during the third quarter, Holdings Channel.com reports. The firm owned 737,660 shares of the real estate investment trust’s stock after selling 95,753 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in W.P. Carey were worth $47,675,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in W.P. Carey during the second quarter worth $2,371,801,000. Dimensional Fund Advisors LP grew its position in W.P. Carey by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 3,348,132 shares of the real estate investment trust’s stock valued at $227,539,000 after purchasing an additional 155,857 shares in the last quarter. Legal & General Group Plc acquired a new stake in W.P. Carey in the 2nd quarter valued at $189,315,000. Bank of New York Mellon Corp acquired a new stake in W.P. Carey in the 2nd quarter valued at $164,853,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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. Institutional investors own 73.73% of the company’s stock.

W.P. Carey Stock Performance

Shares of WPC opened at $64.49 on Friday. The firm has a 50-day moving average of $67.45 and a 200-day moving average of $71.18. W.P. Carey Inc. has a one year low of $62.24 and a one year high of $77.22. The company has a market cap of $14.69 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 3.16 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22.

W.P. Carey Increases Dividend

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

Analyst Upgrades and Downgrades

WPC has been the topic of several analyst reports. Citigroup reissued a “market perform” rating on shares of W.P. Carey in a research report on Friday, September 25th. Scotiabank decreased their price objective on W.P. Carey from $76.00 to $68.00 and set a “sector perform” rating for the company in a report on Thursday, September 24th. 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. BNP Paribas Exane upgraded W.P. Carey from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $73.00 to $88.00 in a report on Wednesday, July 29th. Finally, Wells Fargo & Company dropped their target price on W.P. Carey from $80.00 to $73.00 and set an “overweight” rating on the stock in a report on Monday. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.36.

W.P. Carey Company Profile

W.P. Carey Inc (NYSE: WPC) is a real estate investment trust specializing in the ownership and management of commercial properties under long-term, net lease agreements. In a net lease arrangement, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate rental income with relatively predictable operating expenses.

The company’s portfolio is diversified across industrial, warehouse, retail, self-storage and other commercial properties.