Quantbot Technologies LP Buys Shares of 84,662 W.P. Carey Inc. $WPC

Quantbot Technologies LP bought a new stake in shares of W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, Holdings Channel reports. The firm bought 84,662 shares of the real estate investment trust’s stock, valued at approximately $6,053,000.

A number of other hedge funds have also recently made changes to their positions in WPC. BlackRock Inc. purchased a new stake in shares of W.P. Carey in the 2nd quarter worth approximately $2,371,801,000. State Street Corp increased its holdings in shares of W.P. Carey by 1.0% during the third quarter. State Street Corp now owns 12,329,159 shares of the real estate investment trust’s stock valued at $844,065,000 after acquiring an additional 119,817 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of W.P. Carey by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 4,795,604 shares of the real estate investment trust’s stock valued at $307,913,000 after acquiring an additional 110,306 shares in the last quarter. Invesco Ltd. raised its position in shares of W.P. Carey by 0.3% in the 4th quarter. Invesco Ltd. now owns 3,904,767 shares of the real estate investment trust’s stock worth $251,311,000 after purchasing an additional 12,305 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of W.P. Carey by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,348,132 shares of the real estate investment trust’s stock worth $227,539,000 after purchasing an additional 155,857 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

W.P. Carey Stock Down 1.0%

W.P. Carey stock opened at $71.31 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 fifty day moving average of $72.71 and a 200 day moving average of $72.53. 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 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.

W.P. Carey Increases Dividend

The firm also recently declared 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 represents a $3.76 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Tuesday, June 30th. This is an increase from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s payout ratio is currently 128.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Scotiabank increased their price target on shares of W.P. Carey from $76.00 to $77.00 and gave the company a “sector perform” rating in a report on Thursday, August 13th. Wells Fargo & Company boosted their price objective on shares of W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Bank of America raised W.P. Carey from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $73.00 to $83.00 in a research report on Tuesday, June 16th. Wolfe Research upgraded W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research note on Monday, June 8th. Finally, BNP Paribas Exane raised W.P. Carey from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $73.00 to $88.00 in a report on Wednesday, July 29th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.