iA Global Asset Management Inc. Makes New $238,000 Investment in W. P. Carey Inc. (NYSE:WPC)

iA Global Asset Management Inc. acquired a new position in W. P. Carey Inc. (NYSE:WPC - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 4,370 shares of the real estate investment trust's stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WPC. National Pension Service purchased a new position in W. P. Carey during the fourth quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of W. P. Carey during the 4th quarter worth approximately $37,000. RPg Family Wealth Advisory LLC acquired a new stake in W. P. Carey in the 3rd quarter valued at approximately $44,000. Plato Investment Management Ltd purchased a new stake in shares of W. P. Carey in the 4th quarter valued at $48,000. Finally, Roxbury Financial LLC acquired a new position in W. P. Carey during the 4th quarter worth about $58,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WPC has been the subject of several research reports. Royal Bank of Canada lifted their target price on W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Barclays upped their price objective on W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 4th. Wells Fargo & Company boosted their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. 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 report on Wednesday, February 19th. 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's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $63.75.

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W. P. Carey Stock Down 0.7 %

Shares of NYSE WPC traded down $0.46 during midday trading on Thursday, hitting $62.44. 892,683 shares of the company's stock were exchanged, compared to its average volume of 1,114,039. The firm's fifty day simple moving average is $59.76 and its 200-day simple moving average is $58.40. The company has a market cap of $13.66 billion, a PE ratio of 29.87, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.70%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey's dividend 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.