Mystic Asset Management Inc. acquired a new stake in W. P. Carey Inc. (NYSE:WPC - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,611 shares of the real estate investment trust's stock, valued at approximately $251,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC grew 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 valued at $284,426,000 after acquiring an additional 127,477 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of W. P. Carey by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust's stock valued at $143,926,000 after acquiring an additional 43,197 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of W. P. Carey by 660.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust's stock valued at $127,969,000 after acquiring an additional 1,784,131 shares in the last quarter. Equity Investment Corp grew its stake in shares of W. P. Carey by 26.3% in the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust's stock valued at $101,918,000 after acquiring an additional 389,107 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust's stock valued at $94,325,000 after acquiring an additional 264,230 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.
W. P. Carey Price Performance
Shares of WPC traded up $0.02 during mid-day trading on Friday, reaching $61.62. The company had a trading volume of 4,323,243 shares, compared to its average volume of 1,117,765. The company's 50 day simple moving average is $59.29 and its 200 day simple moving average is $58.39. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year 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 capitalization of $13.48 billion, a price-to-earnings ratio of 29.48, a P/E/G ratio of 1.06 and a beta of 0.95.
W. P. Carey Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.89 dividend. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey's dividend payout ratio (DPR) is presently 170.33%.
Analysts Set New Price Targets
Several equities analysts recently commented on the stock. Royal Bank of Canada upped their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Scotiabank upped 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. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Wells Fargo & Company raised their target price on shares of 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, Barclays raised 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. 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's stock. According to MarketBeat, W. P. Carey presently has a consensus rating of "Hold" and an average target price of $63.75.
View Our Latest Stock Analysis on WPC
W. P. Carey Profile
(
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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