TIAA Trust National Association acquired a new stake in W. P. Carey Inc. (NYSE:WPC - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 4,791 shares of the real estate investment trust's stock, valued at approximately $261,000.
Several other large investors have also made changes to their positions in the company. HighTower Advisors LLC raised its position in shares of W. P. Carey by 0.4% in the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock valued at $2,418,000 after acquiring an additional 193 shares during the period. Capital Investment Advisory Services LLC boosted its position in shares of W. P. Carey by 3.1% during the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust's stock worth $474,000 after purchasing an additional 259 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of W. P. Carey by 7.7% in the 4th quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust's stock valued at $206,000 after buying an additional 271 shares during the period. Cooper Financial Group raised its stake in W. P. Carey by 2.4% during the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust's stock worth $649,000 after buying an additional 276 shares during the period. Finally, Impact Partnership Wealth LLC lifted its holdings in W. P. Carey by 3.6% during the fourth quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust's stock worth $452,000 after acquiring an additional 289 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.
W. P. Carey Stock Performance
NYSE:WPC traded down $0.23 during mid-day trading on Wednesday, hitting $62.81. 195,906 shares of the stock were exchanged, compared to its average volume of 1,249,546. The firm's 50-day simple moving average is $60.31 and its 200 day simple moving average is $58.39. The stock has a market capitalization of $13.74 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. 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 quick ratio of 0.98 and a current ratio of 0.98.
W. P. Carey Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.67%. 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. W. P. Carey's payout ratio is presently 170.33%.
Analyst Ratings Changes
A number of research firms have recently commented on WPC. Evercore ISI raised their price target on 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. BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Wells Fargo & Company upped their price target 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. Scotiabank increased their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 12th. Finally, JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $63.75.
Read Our Latest Stock Analysis on W. P. Carey
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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