Handelsbanken Fonder AB Buys 8,100 Shares of W.P. Carey Inc. $WPC

Handelsbanken Fonder AB increased its stake in W.P. Carey Inc. (NYSE:WPC) by 13.8% during the second quarter, Holdings Channel.com reports. The fund owned 66,900 shares of the real estate investment trust’s stock after buying an additional 8,100 shares during the period. Handelsbanken Fonder AB’s holdings in W.P. Carey were worth $4,783,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC bought a new position in W.P. Carey during the 4th quarter worth approximately $25,000. Commonwealth Retirement Investments LLC bought a new stake in shares of W.P. Carey in the 4th quarter valued at $26,000. Osbon Capital Management LLC bought a new stake in shares of W.P. Carey in the 4th quarter valued at $29,000. Headlands Technologies LLC acquired a new stake in shares of W.P. Carey during the second quarter worth $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of W.P. Carey during the third quarter worth $33,000. 73.73% of the stock is currently owned by institutional investors.

W.P. Carey Stock Up 0.2%

WPC stock opened at $71.66 on Friday. The stock’s 50 day simple moving average is $73.10 and its 200 day simple moving average is $72.43. The company has a market cap of $16.32 billion, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 3.56 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.22 and a current ratio of 0.22. W.P. Carey Inc. has a fifty-two week low of $63.08 and a fifty-two week high of $77.22.

W.P. Carey Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.93. This represents a $3.76 dividend on an annualized basis and a dividend yield of 5.2%. W.P. Carey’s payout ratio is currently 128.33%.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of research analyst reports. Scotiabank upped 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 research report on Thursday. Wells Fargo & Company lifted their price objective on W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Wolfe Research raised W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price objective on the stock in a research note on Monday, June 8th. Evercore set a $77.00 price objective on W.P. Carey in a research note on Thursday, July 30th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of W.P. Carey in a research note on Friday, July 31st. Seven equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently 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.