W.P. Carey Inc. $WPC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,154,890 shares of the real estate investment trust’s stock after selling 82,296 shares during the period. Bank of New York Mellon Corp owned 0.98% of W.P. Carey worth $145,606,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Andra AP fonden boosted its stake in shares of W.P. Carey by 27.9% in the second quarter. Andra AP fonden now owns 160,700 shares of the real estate investment trust’s stock valued at $10,024,000 after purchasing an additional 35,100 shares during the period. Advisors Capital Management LLC lifted its holdings in W.P. Carey by 6.4% during the 2nd quarter. Advisors Capital Management LLC now owns 875,988 shares of the real estate investment trust’s stock worth $54,644,000 after buying an additional 52,660 shares in the last quarter. Carnegie Investment Counsel boosted its position in W.P. Carey by 9.4% in the 3rd quarter. Carnegie Investment Counsel now owns 208,638 shares of the real estate investment trust’s stock valued at $14,098,000 after buying an additional 17,843 shares during the period. HB Wealth Management LLC grew its stake in shares of W.P. Carey by 89.9% in the third quarter. HB Wealth Management LLC now owns 20,946 shares of the real estate investment trust’s stock worth $1,415,000 after acquiring an additional 9,918 shares in the last quarter. Finally, TruWealth Advisors LLC grew its stake in shares of W.P. Carey by 15.5% in the third quarter. TruWealth Advisors LLC now owns 293,304 shares of the real estate investment trust’s stock worth $19,819,000 after acquiring an additional 39,347 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WPC. Barclays set a $65.00 target price on shares of W.P. Carey in a report on Tuesday, January 13th. Royal Bank Of Canada lifted their price objective on shares of W.P. Carey from $69.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 7th. Citigroup boosted their target price on shares of W.P. Carey from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Evercore ISI cut their price target on W.P. Carey from $72.00 to $71.00 and set an “in-line” rating on the stock in a research note on Monday, December 15th. Finally, JPMorgan Chase & Co. lowered their price objective on W.P. Carey from $79.00 to $74.00 and set an “overweight” rating for the company in a research report on Tuesday, December 9th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $68.70.

W.P. Carey Stock Up 0.8%

Shares of NYSE WPC opened at $69.70 on Friday. The business has a 50-day moving average price of $66.59 and a 200 day moving average price of $66.53. The stock has a market cap of $15.27 billion, a PE ratio of 42.24, a price-to-earnings-growth ratio of 5.90 and a beta of 0.79. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.02. W.P. Carey Inc. has a 52-week low of $54.24 and a 52-week high of $70.28.

W.P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Wednesday, December 31st. This is an increase from W.P. Carey’s previous quarterly dividend of $0.91. W.P. Carey’s payout ratio is 223.03%.

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.