MetLife Investment Management LLC Has $7.07 Million Position in W. P. Carey Inc. (NYSE:WPC)

MetLife Investment Management LLC grew its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,754 shares of the real estate investment trust's stock after purchasing an additional 10,039 shares during the quarter. MetLife Investment Management LLC owned approximately 0.06% of W. P. Carey worth $7,069,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. National Pension Service bought a new stake in W. P. Carey during the 4th quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new stake in W. P. Carey in the fourth quarter valued at $37,000. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey during the 4th quarter worth $37,000. Bessemer Group Inc. lifted its holdings in W. P. Carey by 118.6% during the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock worth $40,000 after buying an additional 402 shares during the period. Finally, Plato Investment Management Ltd bought a new stake in shares of W. P. Carey in the 4th quarter valued at about $48,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Price Performance

WPC stock opened at $62.08 on Wednesday. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The stock has a market capitalization of $13.59 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. The company's 50-day moving average is $61.54 and its 200-day moving average is $58.10. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.89 per share. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.56 annualized dividend and a dividend yield of 5.73%. W. P. Carey's payout ratio is currently 170.33%.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of analyst reports. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Wells Fargo & Company boosted their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Evercore ISI increased their price objective on shares of 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. Barclays boosted their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a report on Tuesday, March 4th. Finally, BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, W. P. Carey has a consensus rating of "Hold" and a consensus price target of $63.75.

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.

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