JPMorgan Chase & Co. Has $74.33 Million Position in W. P. Carey Inc. (NYSE:WPC)

JPMorgan Chase & Co. cut its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 9.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,364,292 shares of the real estate investment trust's stock after selling 149,757 shares during the period. JPMorgan Chase & Co. owned 0.62% of W. P. Carey worth $74,327,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. National Pension Service acquired a new stake in W. P. Carey in the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new position in shares of W. P. Carey in the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. acquired a new position in shares of W. P. Carey during the fourth quarter valued at $37,000. Plato Investment Management Ltd bought a new stake in shares of W. P. Carey during the fourth quarter valued at about $48,000. Finally, Roxbury Financial LLC acquired a new stake in W. P. Carey in the fourth quarter worth about $58,000. 73.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. BMO Capital Markets raised shares of W. P. Carey from a "market perform" rating to an "outperform" rating and raised their target price for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Barclays upped their target price 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. Scotiabank lifted their price target on 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. Wells Fargo & Company upped their price objective on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, Royal Bank of Canada raised their target price on W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $63.75.

W. P. Carey Trading Down 1.7 %

Shares of NYSE:WPC traded down $0.95 during mid-day trading on Tuesday, hitting $56.01. The stock had a trading volume of 1,333,222 shares, compared to its average volume of 1,183,238. The company's 50 day moving average is $60.70 and its 200-day moving average is $58.23. 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 quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $12.26 billion, a PE ratio of 26.80, a P/E/G ratio of 1.06 and a beta of 0.81.

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 given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 6.36%. 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. W. P. Carey's dividend payout ratio (DPR) is 170.33%.

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.