Martingale Asset Management L P Invests $974,000 in W. P. Carey Inc. (NYSE:WPC)

Martingale Asset Management L P purchased a new position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,884 shares of the real estate investment trust's stock, valued at approximately $974,000.

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

Wall Street Analysts Forecast Growth

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

W. P. Carey Price Performance

NYSE WPC traded up $0.90 on Friday, reaching $62.18. The company's stock had a trading volume of 771,315 shares, compared to its average volume of 1,182,824. 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 quick ratio of 0.98 and a current ratio of 0.98. The firm's 50 day moving average is $61.28 and its two-hundred day moving average is $58.10. The stock has a market cap of $13.62 billion, a PE ratio of 29.75, a PEG ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 5.73%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date was Monday, March 31st. W. P. Carey's dividend payout ratio (DPR) 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.