Mirae Asset Global Investments Co. Ltd. Buys 15,760 Shares of W. P. Carey Inc. (NYSE:WPC)

Mirae Asset Global Investments Co. Ltd. increased its stake in W. P. Carey Inc. (NYSE:WPCGet Rating) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,925 shares of the real estate investment trust’s stock after buying an additional 15,760 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.12% of W. P. Carey worth $18,506,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers increased its stake in W. P. Carey by 3.3% in the fourth quarter. Rhumbline Advisers now owns 180,697 shares of the real estate investment trust’s stock worth $14,826,000 after purchasing an additional 5,767 shares during the period. Covestor Ltd purchased a new stake in W. P. Carey in the fourth quarter worth $48,000. abrdn plc increased its stake in W. P. Carey by 6.3% in the fourth quarter. abrdn plc now owns 78,435 shares of the real estate investment trust’s stock worth $6,436,000 after purchasing an additional 4,664 shares during the period. Allianz Asset Management GmbH increased its stake in W. P. Carey by 10.1% in the fourth quarter. Allianz Asset Management GmbH now owns 317,937 shares of the real estate investment trust’s stock worth $26,086,000 after purchasing an additional 29,157 shares during the period. Finally, Ensign Peak Advisors Inc increased its stake in W. P. Carey by 25.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 49,430 shares of the real estate investment trust’s stock worth $4,057,000 after purchasing an additional 10,130 shares during the period. 64.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WPC. Wolfe Research began coverage on W. P. Carey in a research note on Monday, June 27th. They issued a “market perform” rating and a $88.00 target price on the stock. Evercore ISI set a $89.00 price target on W. P. Carey in a research note on Monday, June 20th. Raymond James raised their price target on W. P. Carey from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, July 8th. JMP Securities raised their price target on W. P. Carey from $87.00 to $93.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 3rd. Finally, Royal Bank of Canada raised their price target on W. P. Carey from $87.00 to $94.00 and gave the company an “outperform” rating in a research note on Monday, August 1st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, W. P. Carey presently has an average rating of “Moderate Buy” and an average target price of $91.80.

W. P. Carey Price Performance

Shares of WPC stock opened at $84.60 on Friday. W. P. Carey Inc. has a 1-year low of $73.02 and a 1-year high of $89.63. The stock’s 50-day moving average is $85.18 and its 200 day moving average is $83.05. The company has a market cap of $16.32 billion, a P/E ratio of 30.76, a PEG ratio of 7.38 and a beta of 0.68. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.11 and a quick ratio of 0.11.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $1.061 per share. The ex-dividend date is Thursday, September 29th. This represents a $4.24 dividend on an annualized basis and a yield of 5.02%. This is an increase from W. P. Carey’s previous quarterly dividend of $1.06. W. P. Carey’s dividend payout ratio (DPR) is presently 154.18%.

W. P. Carey Company Profile

(Get Rating)

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.

Further Reading

Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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