Korea Investment CORP Invests $22.01 Million in W.P. Carey Inc. $WPC

Korea Investment CORP bought a new stake in shares of W.P. Carey Inc. (NYSE:WPC) during the second quarter, Holdings Channel.com reports. The fund bought 307,843 shares of the real estate investment trust’s stock, valued at approximately $22,011,000.

Several other hedge funds and other institutional investors also recently modified their holdings of WPC. EP Wealth Advisors LLC bought a new position in shares of W.P. Carey in the 2nd quarter worth approximately $921,000. Callan Family Office LLC purchased a new stake in W.P. Carey in the second quarter worth $232,000. OneAscent Financial Services LLC bought a new position in W.P. Carey in the second quarter worth $290,000. Allworth Financial LP purchased a new position in W.P. Carey during the second quarter valued at $9,048,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new stake in shares of W.P. Carey during the 2nd quarter valued at $568,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on WPC shares. Wells Fargo & Company upped their target price on shares of W.P. Carey from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, June 1st. Barclays lifted their price target on shares of W.P. Carey from $78.00 to $80.00 and gave the company an “underweight” rating in a research report on Wednesday, July 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of W.P. Carey in a research note on Friday, July 31st. Evercore set a $77.00 price objective on shares of W.P. Carey in a report on Thursday, July 30th. Finally, BMO Capital Markets decreased their target price on shares of W.P. Carey from $86.00 to $84.00 and set an “outperform” rating for the company in a research note on Thursday, June 18th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $79.38.

W.P. Carey Stock Performance

Shares of W.P. Carey stock opened at $71.31 on Monday. W.P. Carey Inc. has a 1 year low of $63.08 and a 1 year high of $77.22. The firm’s 50-day moving average is $72.71 and its 200 day moving average is $72.55. The stock has a market cap of $16.25 billion, a price-to-earnings ratio of 24.34, a PEG ratio of 3.55 and a beta of 0.75. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.22 and a quick ratio of 0.22.

W.P. Carey Increases Dividend

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

About W.P. Carey

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.