Allianz Asset Management GmbH Has $15.55 Million Position in W.P. Carey Inc. $WPC

Allianz Asset Management GmbH lowered its holdings in W.P. Carey Inc. (NYSE:WPC) by 26.1% in the third quarter, Holdings Channel.com reports. The firm owned 230,112 shares of the real estate investment trust’s stock after selling 81,234 shares during the period. Allianz Asset Management GmbH’s holdings in W.P. Carey were worth $15,549,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. MTM Investment Management LLC purchased a new stake in W.P. Carey in the 2nd quarter worth about $28,000. Headlands Technologies LLC purchased a new position in W.P. Carey during the 2nd quarter valued at about $30,000. Salem Investment Counselors Inc. increased its holdings in shares of W.P. Carey by 1,126.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 613 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 563 shares during the period. True Wealth Design LLC lifted its position in shares of 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 in the last quarter. Finally, Quent Capital LLC acquired a new stake in shares of W.P. Carey during the third quarter worth approximately $52,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of W.P. Carey in a research note on Wednesday, January 21st. Scotiabank boosted their price target on shares of W.P. Carey from $67.00 to $72.00 and gave the company a “sector perform” rating in a report on Monday, February 2nd. Citigroup upped their price target on shares of W.P. Carey from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Barclays set a $65.00 price objective on W.P. Carey in a report on Tuesday, January 13th. Finally, JPMorgan Chase & Co. lowered their target price on W.P. Carey from $79.00 to $74.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 9th. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $69.20.

W.P. Carey Stock Performance

Shares of WPC opened at $71.27 on Friday. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of 43.19, a price-to-earnings-growth ratio of 6.08 and a beta of 0.78. The company’s fifty day moving average is $66.86 and its 200-day moving average is $66.81. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This is a positive change from W.P. Carey’s previous quarterly dividend of $0.91. This represents a $3.68 annualized dividend and a yield of 5.2%. W.P. Carey’s dividend payout ratio (DPR) is currently 223.03%.

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.