Virtu Financial LLC bought a new position in W. P. Carey Inc. (NYSE:WPC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,375 shares of the real estate investment trust's stock, valued at approximately $565,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of W. P. Carey by 660.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust's stock worth $127,969,000 after purchasing an additional 1,784,131 shares during the last quarter. Raymond James Financial Inc. bought a new position in W. P. Carey in the 4th quarter worth approximately $31,442,000. FMR LLC lifted its holdings in shares of W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust's stock worth $50,219,000 after buying an additional 409,593 shares during the last quarter. Equity Investment Corp boosted its position in shares of W. P. Carey by 26.3% in the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust's stock valued at $101,918,000 after acquiring an additional 389,107 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust's stock worth $94,325,000 after acquiring an additional 264,230 shares during the last quarter. Institutional investors own 73.73% of the company's stock.
W. P. Carey Price Performance
WPC stock traded up $0.26 during trading on Friday, hitting $62.67. 794,407 shares of the stock traded hands, compared to its average volume of 1,163,911. The stock has a market cap of $13.71 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The company has a 50 day simple moving average of $60.04 and a 200 day simple moving average of $58.41.
W. P. Carey Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.89 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.68%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is currently 170.33%.
Analyst Ratings Changes
A number of analysts have weighed in on the stock. Royal Bank of Canada increased their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Wells Fargo & Company lifted their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Evercore ISI upped their price target on W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Barclays lifted their price objective on W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a report on Tuesday, March 4th. Finally, JMP Securities restated a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, W. P. Carey has an average rating of "Hold" and a consensus target price of $63.75.
Check Out Our Latest Stock Report on W. P. Carey
About W. P. Carey
(
Free Report)
W. P. Carey ranks among the largest net lease REITs with a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,424 net lease properties covering approximately 173 million square feet and a portfolio of 89 self-storage operating properties as of December 31, 2023.
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