JPMorgan Chase & Co. Has $94.33 Million Holdings in W. P. Carey Inc. (NYSE:WPC)

JPMorgan Chase & Co. grew its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 21.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,514,049 shares of the real estate investment trust's stock after buying an additional 264,230 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.69% of W. P. Carey worth $94,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Franklin Resources Inc. lifted its position in shares of W. P. Carey by 20.4% in the third quarter. Franklin Resources Inc. now owns 165,184 shares of the real estate investment trust's stock worth $9,898,000 after buying an additional 28,022 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in W. P. Carey during the third quarter worth approximately $262,000. Toronto Dominion Bank grew its holdings in W. P. Carey by 31.4% during the third quarter. Toronto Dominion Bank now owns 27,551 shares of the real estate investment trust's stock valued at $1,716,000 after purchasing an additional 6,586 shares during the last quarter. Coldstream Capital Management Inc. raised its position in shares of W. P. Carey by 323.4% in the third quarter. Coldstream Capital Management Inc. now owns 47,132 shares of the real estate investment trust's stock valued at $2,921,000 after purchasing an additional 36,001 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of W. P. Carey by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust's stock worth $284,426,000 after buying an additional 127,477 shares during the last quarter. Institutional investors own 73.73% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays reiterated an "underweight" rating and issued a $59.00 target price (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research report on Monday, December 16th. Evercore ISI increased their target price on W. P. Carey from $63.00 to $66.00 and gave the company an "in-line" rating in a research note on Monday, September 16th. UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Finally, Wells Fargo & Company reissued an "equal weight" rating and issued a $63.00 price objective (up from $62.00) on shares of W. P. Carey in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $63.25.

W. P. Carey Stock Performance

WPC stock traded up $0.56 during midday trading on Friday, hitting $54.85. The stock had a trading volume of 930,034 shares, compared to its average volume of 1,172,317. W. P. Carey Inc. has a 52 week low of $53.09 and a 52 week high of $67.40. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a 50-day simple moving average of $55.78 and a 200 day simple moving average of $57.85. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of 21.59, a P/E/G ratio of 1.04 and a beta of 0.97.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.62). The business had revenue of $394.78 million for the quarter, compared to analyst estimates of $377.43 million. W. P. Carey had a net margin of 35.12% and a return on equity of 6.45%. W. P. Carey's revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.32 earnings per share. As a group, equities research analysts anticipate that W. P. Carey Inc. will post 4.5 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 6.42%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio (DPR) is 138.58%.

W. P. Carey Company 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.