APG Asset Management US Inc. Has $41.41 Million Stake in W. P. Carey Inc. (NYSE:WPC)

APG Asset Management US Inc. cut its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 760,019 shares of the real estate investment trust's stock after selling 16,878 shares during the quarter. W. P. Carey comprises approximately 0.3% of APG Asset Management US Inc.'s portfolio, making the stock its 28th biggest position. APG Asset Management US Inc. owned approximately 0.35% of W. P. Carey worth $41,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of W. P. Carey by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock worth $1,679,110,000 after acquiring an additional 242,576 shares during the period. Geode Capital Management LLC boosted its stake in shares of W. P. Carey by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock worth $256,201,000 after purchasing an additional 135,090 shares during the period. Massachusetts Financial Services Co. MA grew its stake in W. P. Carey by 29.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock worth $219,170,000 after purchasing an additional 906,622 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of W. P. Carey by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust's stock valued at $143,926,000 after acquiring an additional 43,197 shares during the period. Finally, Norges Bank acquired a new stake in shares of W. P. Carey in the 4th quarter worth $139,381,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Royal Bank of Canada lifted their price objective 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 increased their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Barclays raised 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. Scotiabank boosted their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Finally, BMO Capital Markets raised shares of W. P. Carey from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $63.75.

W. P. Carey Price Performance

Shares of W. P. Carey stock traded up $1.27 during mid-day trading on Monday, reaching $59.14. 337,082 shares of the stock were exchanged, compared to its average volume of 1,182,389. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The firm has a 50-day simple moving average of $60.88 and a 200 day simple moving average of $58.08. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The company also recently announced 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. This represents a $3.56 annualized dividend and a yield of 6.02%. The ex-dividend date is Monday, March 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio is presently 170.33%.

W. P. Carey Company Profile

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.