Te Ahumairangi Investment Management Ltd Acquires New Shares in W.P. Carey Inc. $WPC

Te Ahumairangi Investment Management Ltd acquired a new position in W.P. Carey Inc. (NYSE:WPC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,217 shares of the real estate investment trust’s stock, valued at approximately $5,092,000.

Several other institutional investors also recently bought and sold shares of WPC. Laurel Wealth Advisors LLC acquired a new stake in shares of W.P. Carey in the fourth quarter worth about $25,000. 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 stake in W.P. Carey in the 4th quarter worth approximately $29,000. Headlands Technologies LLC acquired a new stake in W.P. Carey in the 2nd quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC bought a new stake in W.P. Carey during the third quarter worth approximately $33,000. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WPC has been the topic of a number of recent analyst reports. 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 report on Thursday, July 30th. Weiss Ratings reiterated a “buy (b-)” rating on shares of W.P. Carey in a research note on Friday, July 31st. UBS Group reiterated a “neutral” rating on shares of W.P. Carey in a report on Wednesday, July 29th. Scotiabank boosted their target price on shares of W.P. Carey from $76.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 13th. Finally, Evercore set a $77.00 price target on W.P. Carey in a research report on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, W.P. Carey presently has a consensus rating of “Hold” and a consensus price target of $79.38.

W.P. Carey Stock Up 0.2%

WPC stock opened at $71.31 on Monday. 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 company has a market cap of $16.25 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 3.55 and a beta of 0.75. The business’s 50-day simple moving average is $72.71 and its 200 day simple moving average is $72.55.

W.P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.94 per share. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Tuesday, June 30th. 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.