Charles Schwab Investment Management Inc. Raises Position in W. P. Carey Inc. (NYSE:WPC)

Charles Schwab Investment Management Inc. lifted its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 1.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,641,815 shares of the real estate investment trust's stock after purchasing an additional 43,197 shares during the period. Charles Schwab Investment Management Inc. owned about 1.21% of W. P. Carey worth $143,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WPC. Farther Finance Advisors LLC increased its holdings in shares of W. P. Carey by 122.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,520 shares of the real estate investment trust's stock valued at $95,000 after acquiring an additional 838 shares during the period. Janney Montgomery Scott LLC bought a new position in W. P. Carey in the third quarter worth about $9,086,000. Van ECK Associates Corp lifted its position in shares of W. P. Carey by 11.8% during the third quarter. Van ECK Associates Corp now owns 98,733 shares of the real estate investment trust's stock valued at $5,828,000 after buying an additional 10,409 shares during the last quarter. Maia Wealth LLC bought a new stake in shares of W. P. Carey in the 3rd quarter valued at about $40,000. Finally, Dudley Capital Management LLC grew its position in shares of W. P. Carey by 7.2% in the 3rd quarter. Dudley Capital Management LLC now owns 7,400 shares of the real estate investment trust's stock worth $461,000 after buying an additional 500 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Performance

Shares of NYSE:WPC traded down $1.45 during midday trading on Tuesday, reaching $63.05. The company's stock had a trading volume of 1,787,230 shares, compared to its average volume of 1,114,090. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average of $57.95 and a 200 day moving average of $58.23. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The firm has a market capitalization of $13.80 billion, a PE ratio of 30.17, a P/E/G ratio of 1.06 and a beta of 0.95.

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W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 5.58%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio is currently 168.42%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Evercore ISI raised their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Scotiabank lowered their price target on W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating for the company in a report on Thursday, January 16th. Royal Bank of Canada boosted their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Finally, BMO Capital Markets raised shares of W. P. Carey from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, W. P. Carey presently has a consensus rating of "Hold" and a consensus target price of $63.25.

W. P. Carey 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.