Vise Technologies Inc. Acquires Shares of 6,987 W.P. Carey Inc. $WPC

Vise Technologies Inc. acquired a new stake in W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 6,987 shares of the real estate investment trust’s stock, valued at approximately $500,000.

Several other institutional investors have also modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in W.P. Carey by 22.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 153,462 shares of the real estate investment trust’s stock valued at $10,429,000 after buying an additional 27,734 shares during the period. Swedbank AB lifted its position in W.P. Carey by 124.2% in the fourth quarter. Swedbank AB now owns 135,849 shares of the real estate investment trust’s stock worth $8,743,000 after buying an additional 75,253 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in W.P. Carey during the fourth quarter worth $41,638,000. Principal Financial Group Inc. boosted its stake in W.P. Carey by 3.8% during the first quarter. Principal Financial Group Inc. now owns 488,973 shares of the real estate investment trust’s stock worth $33,231,000 after buying an additional 17,812 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its position in W.P. Carey by 372.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 46,644 shares of the real estate investment trust’s stock valued at $3,002,000 after acquiring an additional 36,779 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

W.P. Carey Price Performance

WPC opened at $71.59 on Tuesday. The business has a fifty day moving average of $72.63 and a 200 day moving average of $72.57. W.P. Carey Inc. has a 52-week low of $63.08 and a 52-week high of $77.22. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.01. The stock has a market cap of $16.31 billion, a P/E ratio of 24.43, a PEG ratio of 3.55 and a beta of 0.75.

W.P. Carey Increases Dividend

The firm 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. This represents a $3.76 annualized dividend and a dividend yield of 5.3%. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.93. The ex-dividend date was Tuesday, June 30th. W.P. Carey’s dividend payout ratio is 128.33%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wolfe Research raised shares of W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 target price on the stock in a research note on Monday, June 8th. BNP Paribas Exane raised shares of W.P. Carey from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $73.00 to $88.00 in a research note on Wednesday, July 29th. Royal Bank Of Canada upped their price target on shares of W.P. Carey from $73.00 to $77.00 and gave the company a “sector perform” rating in a report on Thursday, July 30th. Weiss Ratings reissued a “buy (b-)” rating on shares of W.P. Carey in a research report on Friday, July 31st. Finally, Evercore set a $77.00 price objective on shares of W.P. Carey in a research report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $79.38.

W.P. Carey Company 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.