Landscape Capital Management L.L.C. Makes New $5.53 Million Investment in W.P. Carey Inc. $WPC

Landscape Capital Management L.L.C. bought a new stake in W.P. Carey Inc. (NYSE:WPC) in the second quarter, HoldingsChannel.com reports. The fund bought 77,339 shares of the real estate investment trust’s stock, valued at approximately $5,530,000.

Several other institutional investors also recently made changes to their positions in WPC. BlackRock Inc. acquired a new stake in shares of W.P. Carey during the 2nd quarter worth approximately $2,371,801,000. State Street Corp lifted its holdings in shares of W.P. Carey by 1.0% in the 3rd quarter. State Street Corp now owns 12,329,159 shares of the real estate investment trust’s stock worth $844,065,000 after purchasing an additional 119,817 shares during the last quarter. Geode Capital Management LLC boosted its position in W.P. Carey by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 4,795,604 shares of the real estate investment trust’s stock valued at $307,913,000 after purchasing an additional 110,306 shares during the period. Invesco Ltd. boosted its position in W.P. Carey by 0.3% during the 4th quarter. Invesco Ltd. now owns 3,904,767 shares of the real estate investment trust’s stock valued at $251,311,000 after purchasing an additional 12,305 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in W.P. Carey by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,348,132 shares of the real estate investment trust’s stock valued at $227,539,000 after purchasing an additional 155,857 shares during the period. 73.73% of the stock is owned by institutional investors.

W.P. Carey Stock Performance

Shares of NYSE WPC opened at $71.31 on Friday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. The stock has a 50 day simple moving average of $72.71 and a 200-day simple moving average of $72.53. The company has a market cap of $16.25 billion, a PE ratio of 24.34, a P/E/G ratio of 3.59 and a beta of 0.75. W.P. Carey Inc. has a 12-month low of $63.08 and a 12-month high of $77.22.

W.P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Tuesday, June 30th. This is an increase from W.P. Carey’s previous quarterly dividend of $0.93. W.P. Carey’s dividend payout ratio (DPR) is presently 128.33%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WPC. BNP Paribas Exane raised W.P. Carey from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $73.00 to $88.00 in a research report on Wednesday, July 29th. Bank of America raised shares of W.P. Carey from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $73.00 to $83.00 in a report on Tuesday, June 16th. Royal Bank Of Canada upped their price target on shares of W.P. Carey from $73.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 30th. Wells Fargo & Company increased their price objective on shares of W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, June 1st. Finally, Evercore set a $77.00 price objective on shares of W.P. Carey in a research report on Thursday, July 30th. Seven investment 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. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $79.38.

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.