Caisse de depot et placement du Quebec Purchases New Shares in W.P. Carey Inc. $WPC

Caisse de depot et placement du Quebec purchased a new position in W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,075,671 shares of the real estate investment trust’s stock, valued at approximately $76,910,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Jacobi Capital Management LLC lifted its holdings in W.P. Carey by 2.5% during the fourth quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 145 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in shares of W.P. Carey by 0.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 21,474 shares of the real estate investment trust’s stock worth $1,459,000 after purchasing an additional 146 shares during the last quarter. Gen Wealth Partners Inc lifted its stake in W.P. Carey by 2.0% in the 4th quarter. Gen Wealth Partners Inc now owns 7,572 shares of the real estate investment trust’s stock valued at $487,000 after buying an additional 146 shares in the last quarter. Vanderbilt University lifted its stake in W.P. Carey by 1.1% in the 1st quarter. Vanderbilt University now owns 14,968 shares of the real estate investment trust’s stock valued at $1,017,000 after buying an additional 162 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in W.P. Carey by 0.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 35,137 shares of the real estate investment trust’s stock worth $2,261,000 after buying an additional 180 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Price Performance

NYSE:WPC opened at $70.42 on Friday. W.P. Carey Inc. has a one year low of $63.08 and a one year high of $77.22. The stock has a market cap of $16.04 billion, a PE ratio of 24.03, a P/E/G ratio of 3.55 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.22 and a current ratio of 0.22. The stock has a 50 day moving average price of $72.51 and a 200 day moving average price of $72.58.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.94 per share. The ex-dividend date was Tuesday, June 30th. This represents a $3.76 annualized dividend and a dividend yield of 5.3%. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s payout ratio is presently 128.33%.

Wall Street Analysts Forecast Growth

Several research firms have commented on WPC. Wolfe Research upgraded W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a research note on Monday, June 8th. Scotiabank lifted their price target on W.P. Carey from $76.00 to $77.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. Bank of America raised W.P. Carey from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $73.00 to $83.00 in a research note on Tuesday, June 16th. Royal Bank Of Canada increased their price objective on 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. Finally, UBS Group restated a “neutral” rating on shares of W.P. Carey in a report on Wednesday, July 29th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $79.38.

W.P. Carey 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.