Meiji Yasuda Asset Management Co Ltd. Invests $560,000 in W.P. Carey Inc. $WPC

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, Holdings Channel reports. The fund acquired 7,830 shares of the real estate investment trust’s stock, valued at approximately $560,000.

A number of other institutional investors also recently bought and sold shares of WPC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in W.P. Carey by 22.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 153,462 shares of the real estate investment trust’s stock worth $10,429,000 after acquiring an additional 27,734 shares during the last quarter. Swedbank AB lifted its position in W.P. Carey by 124.2% during the 4th quarter. Swedbank AB now owns 135,849 shares of the real estate investment trust’s stock worth $8,743,000 after acquiring an additional 75,253 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in W.P. Carey during the 4th quarter valued at about $41,638,000. Principal Financial Group Inc. increased its holdings in shares of W.P. Carey by 3.8% in the first quarter. Principal Financial Group Inc. now owns 488,973 shares of the real estate investment trust’s stock valued at $33,231,000 after purchasing an additional 17,812 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of W.P. Carey by 372.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 46,644 shares of the real estate investment trust’s stock valued at $3,002,000 after purchasing an additional 36,779 shares during the period. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Price Performance

NYSE:WPC opened at $71.76 on Wednesday. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01. W.P. Carey Inc. has a 52 week low of $63.08 and a 52 week high of $77.22. The stock’s 50-day moving average price is $72.54 and its 200-day moving average price is $72.58. The stock has a market capitalization of $16.35 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 3.57 and a beta of 0.75.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.2%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. The ex-dividend date was Tuesday, June 30th. W.P. Carey’s dividend payout ratio (DPR) is presently 128.33%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WPC shares. BMO Capital Markets decreased their target price on W.P. Carey from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. UBS Group reiterated a “neutral” rating on shares of W.P. Carey in a report on Wednesday, July 29th. Wells Fargo & Company raised their price target on shares of W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Bank of America upgraded shares of W.P. Carey from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $73.00 to $83.00 in a research note on Tuesday, June 16th. Finally, Evercore set a $77.00 price objective on shares of W.P. Carey in a research note on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $79.38.

W.P. Carey Company Profile

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.