Franklin Resources Inc. Buys 19,869 Shares of W. P. Carey Inc. (NYSE:WPC)

Franklin Resources Inc. lifted its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 12.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 185,053 shares of the real estate investment trust's stock after acquiring an additional 19,869 shares during the quarter. Franklin Resources Inc. owned approximately 0.08% of W. P. Carey worth $10,082,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC increased its position in W. P. Carey by 0.4% during the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock worth $2,418,000 after buying an additional 193 shares during the period. Capital Investment Advisory Services LLC increased its stake in shares of W. P. Carey by 3.1% in the 4th quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust's stock valued at $474,000 after purchasing an additional 259 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of W. P. Carey by 7.7% during the 4th quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust's stock worth $206,000 after buying an additional 271 shares in the last quarter. Cooper Financial Group lifted its position in shares of W. P. Carey by 2.4% during the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust's stock worth $649,000 after buying an additional 276 shares during the last quarter. Finally, Impact Partnership Wealth LLC boosted its stake in W. P. Carey by 3.6% in the fourth quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust's stock valued at $452,000 after buying an additional 289 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Evercore ISI upped their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Scotiabank upped their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. Barclays lifted their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a report on Tuesday, March 4th. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and increased their price target for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Finally, Royal Bank of Canada upped their target price on W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $63.75.

W. P. Carey Price Performance

NYSE WPC traded up $1.36 on Monday, reaching $59.23. 145,096 shares of the company's stock traded hands, compared to its average volume of 1,181,634. The stock has a market cap of $12.97 billion, a PE ratio of 28.34, a P/E/G ratio of 1.06 and a beta of 0.81. The stock has a 50-day simple moving average of $60.88 and a 200 day simple moving average of $58.08. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.89 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 6.01%. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is presently 170.33%.

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.