Ameritas Investment Company LLC bought a new stake in shares of W. P. Carey Inc. (NYSE:WPC) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,548 shares of the real estate investment trust’s stock, valued at approximately $180,000.
Other institutional investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its position in W. P. Carey by 12.8% during the first quarter. Public Employees Retirement System of Ohio now owns 295,101 shares of the real estate investment trust’s stock valued at $20,881,000 after purchasing an additional 33,597 shares during the last quarter. Swiss National Bank lifted its position in W. P. Carey by 2.8% during the first quarter. Swiss National Bank now owns 674,547 shares of the real estate investment trust’s stock valued at $47,731,000 after purchasing an additional 18,600 shares during the last quarter. We Are One Seven LLC bought a new stake in W. P. Carey during the first quarter valued at approximately $216,000. Cetera Advisors LLC lifted its position in W. P. Carey by 18.9% during the fourth quarter. Cetera Advisors LLC now owns 25,235 shares of the real estate investment trust’s stock valued at $1,781,000 after purchasing an additional 4,017 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in W. P. Carey by 7.9% during the fourth quarter. JPMorgan Chase & Co. now owns 5,762,947 shares of the real estate investment trust’s stock valued at $406,749,000 after purchasing an additional 420,890 shares during the last quarter. Institutional investors and hedge funds own 55.78% of the company’s stock.
Shares of NYSE WPC opened at $78.86 on Thursday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.94. W. P. Carey Inc. has a 52 week low of $60.68 and a 52 week high of $79.92. The business has a fifty day moving average price of $76.55. The stock has a market capitalization of $14.17 billion, a P/E ratio of 31.42 and a beta of 0.73.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Investors of record on Wednesday, June 30th were paid a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 5.33%. This is an increase from W. P. Carey’s previous quarterly dividend of $1.05. The ex-dividend date was Tuesday, June 29th. W. P. Carey’s payout ratio is presently 88.61%.
Several equities research analysts have issued reports on WPC shares. Bank of America reiterated an “underperform” rating on shares of W. P. Carey in a research report on Tuesday, April 13th. JPMorgan Chase & Co. upgraded shares of W. P. Carey from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $77.00 to $88.00 in a report on Tuesday, June 15th. Zacks Investment Research upgraded shares of W. P. Carey from a “sell” rating to a “hold” rating in a report on Tuesday, April 13th. Evercore ISI upgraded shares of W. P. Carey from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $77.00 to $80.00 in a report on Monday, May 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of W. P. Carey from $77.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, June 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $83.25.
W. P. Carey Profile
W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.
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