W. P. Carey Inc. (NYSE:WPC) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia lowered its holdings in W. P. Carey Inc. (NYSE:WPCGet Rating) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,464 shares of the real estate investment trust’s stock after selling 441 shares during the period. Bank of Nova Scotia’s holdings in W. P. Carey were worth $1,198,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in WPC. State Street Corp grew its stake in shares of W. P. Carey by 17.1% in the 1st quarter. State Street Corp now owns 9,572,789 shares of the real estate investment trust’s stock worth $783,467,000 after purchasing an additional 1,400,997 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of W. P. Carey by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 27,334,613 shares of the real estate investment trust’s stock worth $2,209,731,000 after purchasing an additional 1,016,340 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of W. P. Carey by 2,629.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 702,610 shares of the real estate investment trust’s stock worth $58,290,000 after purchasing an additional 676,864 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of W. P. Carey in the 1st quarter worth approximately $42,483,000. Finally, National Pension Service grew its stake in shares of W. P. Carey by 757,822.2% in the 1st quarter. National Pension Service now owns 272,852 shares of the real estate investment trust’s stock worth $22,057,000 after purchasing an additional 272,816 shares during the last quarter. Institutional investors and hedge funds own 64.74% of the company’s stock.

W. P. Carey Stock Performance

WPC stock opened at $79.72 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a market cap of $16.58 billion, a P/E ratio of 31.64, a P/E/G ratio of 11.61 and a beta of 0.76. The firm has a 50 day simple moving average of $75.84 and a 200 day simple moving average of $80.93. W. P. Carey Inc. has a 52 week low of $67.76 and a 52 week high of $89.63.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were paid a $1.061 dividend. The ex-dividend date of this dividend was Thursday, September 29th. This is a boost from W. P. Carey’s previous quarterly dividend of $1.06. This represents a $4.24 dividend on an annualized basis and a yield of 5.32%. W. P. Carey’s payout ratio is 168.25%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WPC shares. JMP Securities dropped their target price on shares of W. P. Carey from $93.00 to $86.00 and set a “market outperform” rating on the stock in a research report on Monday, October 24th. StockNews.com started coverage on shares of W. P. Carey in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Royal Bank of Canada lifted their target price on shares of W. P. Carey from $87.00 to $94.00 and gave the stock an “outperform” rating in a research report on Monday, August 1st. Raymond James dropped their target price on shares of W. P. Carey from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 4th. Finally, Evercore ISI dropped their target price on shares of W. P. Carey from $90.00 to $87.00 in a research report on Tuesday, September 27th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.00.

About W. P. Carey

(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)

Receive News & Ratings for W. P. Carey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for W. P. Carey and related companies with MarketBeat.com's FREE daily email newsletter.