Russell Investments Group Ltd. Purchases 20,695 Shares of W. P. Carey Inc. (NYSE:WPC)

Russell Investments Group Ltd. boosted its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 33.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,494 shares of the real estate investment trust's stock after purchasing an additional 20,695 shares during the period. Russell Investments Group Ltd.'s holdings in W. P. Carey were worth $4,549,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. RFG Advisory LLC grew 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 acquiring an additional 3,049 shares in the last quarter. Stifel Financial Corp raised its stake in shares of W. P. Carey by 7.0% during the 3rd quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust's stock worth $1,980,000 after purchasing an additional 2,075 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of W. P. Carey by 17.1% in the 4th quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust's stock valued at $3,056,000 after buying an additional 8,197 shares during the last quarter. Signet Financial Management LLC bought a new position in shares of W. P. Carey in the fourth quarter valued at $1,942,000. Finally, Diversified Trust Co acquired a new position in W. P. Carey during the fourth quarter worth $534,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Price Performance

NYSE:WPC traded up $0.90 during mid-day trading on Friday, reaching $62.18. The stock had a trading volume of 771,315 shares, compared to its average volume of 1,182,796. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The stock has a market capitalization of $13.62 billion, a PE ratio of 29.75, a P/E/G ratio of 1.06 and a beta of 0.81. 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 has a 50-day simple moving average of $61.40 and a two-hundred day simple moving average of $58.11.

W. P. Carey Increases Dividend

The firm also recently declared 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. The ex-dividend date was Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.73%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is 170.33%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wells Fargo & Company upped their price objective 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. Barclays lifted their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a report on Tuesday, March 4th. BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. 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. Finally, Evercore ISI raised their price target 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, W. P. Carey currently has a consensus rating of "Hold" and a consensus price target of $63.75.

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.