CANADA LIFE ASSURANCE Co Buys 14,505 Shares of W. P. Carey Inc. (NYSE:WPC)

CANADA LIFE ASSURANCE Co grew its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 454,720 shares of the real estate investment trust's stock after acquiring an additional 14,505 shares during the period. CANADA LIFE ASSURANCE Co owned 0.21% of W. P. Carey worth $24,766,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. National Pension Service purchased a new position in shares of W. P. Carey during the 4th quarter valued at about $25,000. Millstone Evans Group LLC purchased a new stake in shares of W. P. Carey during the fourth quarter worth about $37,000. Wingate Wealth Advisors Inc. purchased a new position in W. P. Carey in the 4th quarter worth approximately $37,000. Bessemer Group Inc. grew its holdings in W. P. Carey by 118.6% during the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 402 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new position in shares of W. P. Carey in the fourth quarter worth $48,000. Institutional investors own 73.73% of the company's stock.

W. P. Carey Trading Down 0.5 %

Shares of NYSE WPC traded down $0.32 during midday trading on Thursday, hitting $60.75. The company's stock had a trading volume of 694,983 shares, compared to its average volume of 1,180,189. The business's 50 day moving average is $61.59 and its two-hundred day moving average is $58.12. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month 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 firm has a market cap of $13.30 billion, a P/E ratio of 29.07, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 5.86%. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. W. P. Carey's dividend payout ratio (DPR) is 170.33%.

Wall Street Analyst Weigh In

Several brokerages have commented on WPC. BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Barclays boosted their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 4th. Scotiabank lifted their price objective 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. Wells Fargo & Company increased their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, Evercore ISI boosted their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, W. P. Carey currently has an average rating of "Hold" and a consensus price target of $63.75.

About W. P. Carey

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.