Saudi Central Bank Buys 7,261 Shares of W.P. Carey Inc. $WPC

Saudi Central Bank raised its stake in shares of W.P. Carey Inc. (NYSE:WPC) by 89.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,350 shares of the real estate investment trust’s stock after buying an additional 7,261 shares during the quarter. Saudi Central Bank’s holdings in W.P. Carey were worth $1,098,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of WPC. Jacobi Capital Management LLC raised its position in shares of W.P. Carey by 2.5% in the 4th quarter. Jacobi Capital Management LLC now owns 5,886 shares of the real estate investment trust’s stock valued at $379,000 after acquiring an additional 145 shares during the period. Kestra Private Wealth Services LLC increased its stake in W.P. Carey by 0.7% in the first quarter. Kestra Private Wealth Services LLC now owns 21,474 shares of the real estate investment trust’s stock valued at $1,459,000 after purchasing an additional 146 shares in the last quarter. Gen Wealth Partners Inc increased its stake in W.P. Carey by 2.0% in the fourth quarter. Gen Wealth Partners Inc now owns 7,572 shares of the real estate investment trust’s stock valued at $487,000 after purchasing an additional 146 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in W.P. Carey by 1.1% in the second quarter. Concurrent Investment Advisors LLC now owns 13,818 shares of the real estate investment trust’s stock worth $988,000 after purchasing an additional 148 shares during the period. Finally, Vanderbilt University raised its holdings in W.P. Carey by 1.1% in the first quarter. Vanderbilt University now owns 14,968 shares of the real estate investment trust’s stock worth $1,017,000 after purchasing an additional 162 shares during the period. 73.73% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WPC has been the subject of several research analyst reports. Wolfe Research raised shares of W.P. Carey from a “peer perform” rating to an “outperform” rating and set a $85.00 price target for the company in a report on Monday, June 8th. BNP Paribas Exane raised W.P. Carey from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $73.00 to $88.00 in a research note on Wednesday, July 29th. Evercore set a $77.00 target price on W.P. Carey in a report on Thursday, July 30th. Citigroup restated a “market perform” rating on shares of W.P. Carey in a report on Thursday, June 18th. Finally, UBS Group reaffirmed a “neutral” rating on shares of W.P. Carey in a research report on Wednesday, July 29th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.38.

W.P. Carey Stock Down 0.9%

Shares of WPC stock opened at $69.90 on Thursday. W.P. Carey Inc. has a 12-month low of $63.08 and a 12-month high of $77.22. 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 firm has a fifty day moving average of $72.14 and a 200-day moving average of $72.41. The company has a market capitalization of $15.92 billion, a price-to-earnings ratio of 23.86, a P/E/G ratio of 3.52 and a beta of 0.75.

W.P. Carey Profile

W.P. Carey Inc (NYSE: WPC) is a diversified real estate investment trust that owns and manages a portfolio of commercial properties leased to companies under long-term, primarily net lease agreements. Under these arrangements, tenants generally assume responsibility for property taxes, insurance and maintenance, allowing W.P. Carey to generate contractual rental income.

The company invests in and provides sale-leaseback and build-to-suit financing solutions for businesses. Its portfolio has historically included industrial and warehouse facilities, retail properties, office buildings, self-storage facilities and other commercial real estate.