Sei Investments Co. Acquires 33,060 Shares of W.P. Carey Inc. $WPC

Sei Investments Co. grew its stake in W.P. Carey Inc. (NYSE:WPC) by 30.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,355 shares of the real estate investment trust’s stock after buying an additional 33,060 shares during the period. Sei Investments Co.’s holdings in W.P. Carey were worth $9,674,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of WPC. Invesco Ltd. raised its holdings in W.P. Carey by 1.6% during the second quarter. Invesco Ltd. now owns 753,196 shares of the real estate investment trust’s stock worth $46,984,000 after buying an additional 11,635 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in shares of W.P. Carey during the 2nd quarter worth $115,000. Bank of Nova Scotia boosted its stake in 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 valued at $509,000 after acquiring an additional 555 shares during the last quarter. Qube Research & Technologies Ltd purchased a new position in W.P. Carey in the second quarter valued at approximately $3,494,000. Finally, Treasurer of the State of North Carolina lifted its position in shares of W.P. Carey by 77.5% during the 2nd quarter. Treasurer of the State of North Carolina now owns 299,915 shares of the real estate investment trust’s stock valued at $18,709,000 after buying an additional 130,906 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Insider Activity at W.P. Carey

In other W.P. Carey news, CAO Brian H. Zander sold 433 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $74.00, for a total transaction of $32,042.00. Following the completion of the sale, the chief accounting officer directly owned 13,882 shares in the company, valued at $1,027,268. The trade was a 3.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.98% of the stock is owned by insiders.

W.P. Carey Trading Down 0.6%

W.P. Carey stock opened at $73.63 on Friday. The company has a market capitalization of $16.77 billion, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 2.84 and a beta of 0.76. The business’s fifty day simple moving average is $73.62 and its two-hundred day simple moving average is $72.24. W.P. Carey Inc. has a 12 month low of $63.08 and a 12 month high of $77.22. The company has a current ratio of 0.22, a quick ratio of 0.35 and a debt-to-equity ratio of 1.01.

W.P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.94 dividend. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $3.76 dividend on an annualized basis and a yield of 5.1%. W.P. Carey’s payout ratio is presently 128.33%.

Wall Street Analysts Forecast Growth

WPC has been the subject of several recent research reports. BNP Paribas Exane upgraded W.P. Carey from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $73.00 to $88.00 in a research report on Wednesday. Bank of America upgraded shares of 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 research report on Tuesday, June 16th. Wells Fargo & Company raised their price objective on W.P. Carey from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, June 1st. UBS Group reiterated a “neutral” rating on shares of W.P. Carey in a research report on Wednesday. Finally, BMO Capital Markets lowered their price objective on W.P. Carey from $86.00 to $84.00 and set an “outperform” rating for the company in a research report on Thursday, June 18th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $79.31.

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.