W.P. Carey Inc. $WPC Stock Position Increased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC increased its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 136.0% in the third quarter, HoldingsChannel reports. The firm owned 17,745 shares of the real estate investment trust’s stock after buying an additional 10,225 shares during the quarter. Nisa Investment Advisors LLC’s holdings in W.P. Carey were worth $1,164,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in WPC. BlackRock Inc. purchased a new position in W.P. Carey in the 2nd quarter valued at about $2,371,801,000. Dimensional Fund Advisors LP grew its holdings in shares of W.P. Carey by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,348,132 shares of the real estate investment trust’s stock worth $227,539,000 after buying an additional 155,857 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of W.P. Carey during the second quarter worth about $189,315,000. Bank of New York Mellon Corp purchased a new stake in shares of W.P. Carey during the second quarter worth about $164,853,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of W.P. Carey by 3.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,270,499 shares of the real estate investment trust’s stock valued at $162,341,000 after buying an additional 65,284 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of analyst reports. Jefferies Financial Group started coverage on shares of W.P. Carey in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $73.00 price objective for the company. Citigroup restated a “market perform” rating on shares of W.P. Carey in a research report on Friday, September 25th. Barclays lowered their target price on shares of W.P. Carey from $80.00 to $76.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 20th. Evercore set a $75.00 price target on W.P. Carey in a report on Monday, September 21st. Finally, Wells Fargo & Company cut their price target on W.P. Carey from $80.00 to $73.00 and set an “overweight” rating for the company in a report on Monday, October 19th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $77.36.

W.P. Carey Stock Performance

NYSE WPC opened at $64.38 on Tuesday. The business’s 50-day moving average price is $67.17 and its 200 day moving average price is $70.87. W.P. Carey Inc. has a twelve month low of $62.24 and a twelve month high of $77.22. The company has a market capitalization of $14.67 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 3.23 and a beta of 0.75. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.95 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 5.9%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.94. W.P. Carey’s dividend payout ratio is currently 129.69%.

About W.P. Carey

W.P. Carey Inc (NYSE: WPC) is a real estate investment trust specializing in the ownership and management of commercial properties under long-term, net lease agreements. In a net lease arrangement, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate rental income with relatively predictable operating expenses.

The company’s portfolio is diversified across industrial, warehouse, retail, self-storage and other commercial properties.