Deutsche Bank AG Takes $127.82 Million Position in W.P. Carey Inc. $WPC

Deutsche Bank AG purchased a new stake in shares of W.P. Carey Inc. (NYSE:WPC) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 1,787,749 shares of the real estate investment trust’s stock, valued at approximately $127,824,000.

A number of other large investors have also added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of W.P. Carey by 416.8% in the third quarter. Invesco Ltd. now owns 3,892,462 shares of the real estate investment trust’s stock worth $263,014,000 after purchasing an additional 3,139,266 shares during the last quarter. Norges Bank purchased a new position in W.P. Carey during the 4th quarter valued at about $184,035,000. Bank of New York Mellon Corp bought a new position in W.P. Carey during the 2nd quarter valued at approximately $164,853,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in W.P. Carey by 31,629.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,163,285 shares of the real estate investment trust’s stock valued at $139,229,000 after purchasing an additional 2,156,467 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in W.P. Carey by 1,183.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,130,402 shares of the real estate investment trust’s stock valued at $76,381,000 after purchasing an additional 1,042,334 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Scotiabank lifted their price objective on W.P. Carey from $76.00 to $77.00 and gave the stock a “sector perform” rating in a research report on Thursday, August 13th. Weiss Ratings restated a “buy (b-)” rating on shares of W.P. Carey in a report on Friday, July 31st. Wells Fargo & Company upped their target price on W.P. Carey from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, June 1st. BNP Paribas Exane raised W.P. Carey from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $73.00 to $88.00 in a research note on Wednesday, July 29th. Finally, Bank of America upgraded shares of W.P. Carey from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $73.00 to $83.00 in a report on Tuesday, June 16th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $79.38.

W.P. Carey Stock Performance

Shares of WPC opened at $71.92 on Thursday. 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 $16.38 billion, a P/E ratio of 24.55, a P/E/G ratio of 3.54 and a beta of 0.75. The business’s 50 day moving average price is $72.89 and its 200-day moving average price is $72.52. W.P. Carey Inc. has a 52 week low of $63.08 and a 52 week high of $77.22.

W.P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a $0.94 dividend. This is an increase from W.P. Carey’s previous quarterly dividend of $0.93. This represents a $3.76 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Tuesday, June 30th. W.P. Carey’s dividend payout ratio (DPR) is presently 128.33%.

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.