W.P. Carey Inc. $WPC Holdings Decreased by Allianz Asset Management GmbH

Allianz Asset Management GmbH lowered its stake in W.P. Carey Inc. (NYSE:WPC) by 26.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 230,112 shares of the real estate investment trust’s stock after selling 81,234 shares during the quarter. Allianz Asset Management GmbH owned about 0.11% of W.P. Carey worth $15,549,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. MTM Investment Management LLC bought a new position in shares of W.P. Carey in the second quarter valued at approximately $28,000. Headlands Technologies LLC bought a new stake in W.P. Carey during the second quarter worth approximately $30,000. Salem Investment Counselors Inc. lifted its position in W.P. Carey by 1,126.0% in the third quarter. Salem Investment Counselors Inc. now owns 613 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 563 shares during the period. True Wealth Design LLC lifted its position in W.P. Carey by 74.4% in the third quarter. True Wealth Design LLC now owns 661 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 282 shares during the period. Finally, Quent Capital LLC bought a new position in W.P. Carey during the 3rd quarter valued at $52,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W.P. Carey Stock Down 0.2%

Shares of W.P. Carey stock opened at $71.27 on Friday. The stock’s fifty day moving average is $66.86 and its 200-day moving average is $66.81. The firm has a market capitalization of $15.62 billion, a PE ratio of 43.19, a price-to-earnings-growth ratio of 6.08 and a beta of 0.78. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 1.02. W.P. Carey Inc. has a 12-month low of $54.24 and a 12-month high of $72.34.

W.P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were given a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 5.2%. This is an increase from W.P. Carey’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, December 31st. W.P. Carey’s payout ratio is 223.03%.

Analyst Ratings Changes

Several brokerages have recently issued reports on WPC. Evercore lowered their price target on W.P. Carey from $72.00 to $71.00 and set an “in-line” rating on the stock in a research report on Monday, December 15th. JPMorgan Chase & Co. decreased their target price on W.P. Carey from $79.00 to $74.00 and set an “overweight” rating for the company in a research note on Tuesday, December 9th. Royal Bank Of Canada boosted their price target on shares of W.P. Carey from $69.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Wednesday, January 7th. Citigroup upped their price target on shares of W.P. Carey from $60.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of W.P. Carey in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $69.20.

W.P. Carey 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.