12,618 Shares in W.P. Carey Inc. $WPC Purchased by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. bought a new position in W.P. Carey Inc. (NYSE:WPC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 12,618 shares of the real estate investment trust’s stock, valued at approximately $927,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Invesco Ltd. raised its holdings in shares of 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 valued at $46,984,000 after purchasing an additional 11,635 shares during the last quarter. Cary Street Partners Financial LLC bought a new stake in W.P. Carey in the 2nd quarter worth approximately $115,000. Bank of Nova Scotia raised its stake in W.P. Carey by 7.3% during the 2nd quarter. Bank of Nova Scotia now owns 8,164 shares of the real estate investment trust’s stock valued at $509,000 after buying an additional 555 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in W.P. Carey during the 2nd quarter valued at $3,494,000. Finally, Sei Investments Co. lifted its holdings in shares of W.P. Carey by 73.0% during the 2nd quarter. Sei Investments Co. now owns 96,983 shares of the real estate investment trust’s stock valued at $6,050,000 after buying an additional 40,908 shares during the period. Institutional investors own 73.73% of the company’s stock.

W.P. Carey Trading Down 1.0%

NYSE:WPC opened at $69.84 on Tuesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22. The firm has a market capitalization of $15.91 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 3.51 and a beta of 0.75. W.P. Carey Inc. has a one year low of $63.08 and a one year high of $77.22. The business has a fifty day moving average price of $72.46 and a 200-day moving average price of $72.55.

W.P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.94 per share. This is a boost from W.P. Carey’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend was Tuesday, June 30th. W.P. Carey’s dividend payout ratio is presently 128.33%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WPC. Wolfe Research raised W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a report on Monday, June 8th. Bank of America raised W.P. Carey from an “underperform” rating to a “neutral” rating and increased their target price for the company from $73.00 to $83.00 in a report on Tuesday, June 16th. Barclays boosted their price target on W.P. Carey from $78.00 to $80.00 and gave the company an “underweight” rating in a research note on Wednesday, July 22nd. Evercore set a $77.00 price target on shares of W.P. Carey in a research report on Thursday, July 30th. Finally, UBS Group reiterated a “neutral” rating on shares of W.P. Carey in a research note on Wednesday, July 29th. Seven equities research 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’s stock. According to data from MarketBeat, W.P. Carey has a consensus rating of “Hold” and a consensus target price of $79.38.

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.