Qube Research & Technologies Ltd Increases Stock Position in W. P. Carey Inc. (NYSE:WPC)

Qube Research & Technologies Ltd boosted its stake in shares of W. P. Carey Inc. (NYSE:WPC – Get Rating) by 117.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 181,467 shares of the real estate investment trust’s stock after buying an additional 98,001 shares during the quarter. Qube Research & Technologies Ltd owned 0.09% of W. P. Carey worth $14,670,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in W. P. Carey by 5.4% during the fourth quarter. BlackRock Inc. now owns 14,112,099 shares of the real estate investment trust’s stock worth $1,157,897,000 after buying an additional 722,076 shares during the period. State Street Corp boosted its stake in W. P. Carey by 8.0% during the fourth quarter. State Street Corp now owns 8,171,792 shares of the real estate investment trust’s stock worth $678,980,000 after buying an additional 605,568 shares during the period. Geode Capital Management LLC boosted its stake in W. P. Carey by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 3,043,613 shares of the real estate investment trust’s stock worth $249,430,000 after buying an additional 123,647 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in W. P. Carey by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,817,908 shares of the real estate investment trust’s stock worth $149,160,000 after buying an additional 57,560 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in W. P. Carey by 0.8% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,534,378 shares of the real estate investment trust’s stock worth $125,896,000 after buying an additional 12,421 shares during the period. Hedge funds and other institutional investors own 58.86% of the company’s stock.

W. P. Carey Stock Performance

NYSE:WPC opened at $84.62 on Friday. The firm’s fifty day moving average price is $83.58 and its 200 day moving average price is $81.00. W. P. Carey Inc. has a 1-year low of $73.02 and a 1-year high of $89.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.11 and a quick ratio of 0.20. The firm has a market cap of $16.32 billion, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 9.19 and a beta of 0.67.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a $1.059 dividend. This represents a $4.24 dividend on an annualized basis and a yield of 5.01%. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.06. The ex-dividend date was Wednesday, June 29th. W. P. Carey’s dividend payout ratio (DPR) is 154.18%.

Analyst Upgrades and Downgrades

WPC has been the subject of several recent research reports. Evercore ISI set a $89.00 price objective on shares of W. P. Carey in a research note on Monday, June 20th. Raymond James raised their price objective on shares of W. P. Carey from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 8th. Wolfe Research initiated coverage on shares of W. P. Carey in a research note on Monday, June 27th. They issued a “market perform” rating and a $88.00 price objective for the company. JMP Securities lifted their price target on shares of W. P. Carey from $87.00 to $93.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Finally, StockNews.com downgraded shares of W. P. Carey from a “buy” rating to a “hold” rating in a research note on Wednesday, June 1st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $91.80.

W. P. Carey Company Profile

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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.