Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 37.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,819 shares of the real estate investment trust's stock after purchasing an additional 32,675 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned about 0.05% of W. P. Carey worth $6,473,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of W. P. Carey by 660.9% during the third 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 buying an additional 1,784,131 shares during the last quarter. Raymond James Financial Inc. acquired a new position in W. P. Carey in the 4th quarter worth about $31,442,000. FMR LLC boosted its stake 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 valued at $50,219,000 after purchasing an additional 409,593 shares in the last quarter. Equity Investment Corp raised its holdings in W. P. Carey by 26.3% in the 4th quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust's stock valued at $101,918,000 after buying an additional 389,107 shares during the last quarter. 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 purchasing an additional 264,230 shares during the last quarter. 73.73% of the stock is owned by institutional investors.
W. P. Carey Stock Performance
Shares of NYSE:WPC traded down $0.46 during mid-day trading on Thursday, reaching $62.44. The company had a trading volume of 892,683 shares, compared to its average volume of 1,114,039. 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 $13.66 billion, a price-to-earnings ratio of 29.87, a PEG 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's 50-day moving average price is $59.76 and its 200-day moving average price is $58.40.
W. P. Carey Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.89 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.70%. W. P. Carey's payout ratio is 170.33%.
Analysts Set New Price Targets
WPC has been the topic of several research analyst reports. Evercore ISI increased their target price on shares of 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. Wells Fargo & Company lifted their price target on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Royal Bank of Canada increased their price objective 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. Scotiabank raised their target price on W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a report on Wednesday, March 12th. Finally, BMO Capital Markets upgraded 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 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 company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $63.75.
View Our Latest Stock Analysis on WPC
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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