Public Employees Retirement System of Ohio Takes $22.98 Million Position in W.P. Carey Inc. $WPC

Public Employees Retirement System of Ohio acquired a new stake in W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 321,328 shares of the real estate investment trust’s stock, valued at approximately $22,975,000. Public Employees Retirement System of Ohio owned 0.14% of W.P. Carey as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Jacobs Equity LLC acquired a new position in W.P. Carey during the second quarter worth about $435,000. Transamerica Financial Advisors LLC acquired a new stake in W.P. Carey during the 2nd quarter valued at $199,000. Corient Private Wealth LP acquired a new stake in W.P. Carey during the 2nd quarter valued at $7,170,000. Perennial Investment Advisors LLC purchased a new position in W.P. Carey during the second quarter worth $266,000. Finally, Bank of America Corp DE purchased a new position in W.P. Carey during the second quarter worth $128,034,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W.P. Carey Stock Performance

NYSE WPC opened at $70.53 on Friday. The business’s 50-day moving average price is $72.49 and its 200 day moving average price is $72.56. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.01. W.P. Carey Inc. has a twelve month low of $63.08 and a twelve month high of $77.22. The company has a market capitalization of $16.07 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 3.51 and a beta of 0.75.

W.P. Carey Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WPC. UBS Group restated a “neutral” rating on shares of W.P. Carey 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 target price for the company from $73.00 to $83.00 in a research note on Tuesday, June 16th. BNP Paribas Exane raised shares of W.P. Carey from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $73.00 to $88.00 in a research note on Wednesday, July 29th. Scotiabank raised their price target on shares of W.P. Carey from $76.00 to $77.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 13th. Finally, BMO Capital Markets lowered their price target on shares of W.P. Carey from $86.00 to $84.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.