Mitsubishi UFJ Trust & Banking Corp increased its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 119,836 shares of the real estate investment trust's stock after buying an additional 12,294 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.05% of W. P. Carey worth $6,529,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. RFG Advisory LLC raised its holdings in shares of W. P. Carey by 91.7% in the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust's stock valued at $347,000 after purchasing an additional 3,049 shares in the last quarter. Stifel Financial Corp raised its stake in W. P. Carey by 7.0% in the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust's stock valued at $1,980,000 after buying an additional 2,075 shares in the last quarter. FMR LLC lifted its holdings in W. P. Carey by 103.3% during the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust's stock worth $50,219,000 after buying an additional 409,593 shares during the last quarter. Erste Asset Management GmbH acquired a new position in shares of W. P. Carey during the 3rd quarter worth about $1,267,000. Finally, Signet Financial Management LLC purchased a new position in shares of W. P. Carey in the 4th quarter valued at about $1,942,000. Hedge funds and other institutional investors own 73.73% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Royal Bank of Canada upped 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 target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Scotiabank raised their price objective on W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. Finally, BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and upped their target price for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, W. P. Carey currently has an average rating of "Hold" and a consensus price target of $63.75.
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W. P. Carey Stock Performance
Shares of NYSE:WPC traded down $0.73 during trading on Thursday, reaching $61.95. The company had a trading volume of 810,698 shares, compared to its average volume of 1,256,587. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week 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. The stock's fifty day moving average price is $60.46 and its 200 day moving average price is $58.42. The firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of 29.64, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.
W. P. Carey Increases Dividend
The company 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 is an increase from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 annualized dividend and a dividend yield of 5.75%. W. P. Carey's payout ratio is presently 170.33%.
W. P. Carey Profile
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Free Report)
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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