Vanguard Group Inc. increased its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,820,665 shares of the real estate investment trust's stock after acquiring an additional 242,576 shares during the quarter. Vanguard Group Inc. owned about 14.08% of W. P. Carey worth $1,679,110,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the business. Stevens Capital Management LP acquired a new position in W. P. Carey in the 4th quarter valued at about $601,000. KLP Kapitalforvaltning AS acquired a new position in shares of W. P. Carey in the fourth quarter valued at approximately $6,257,000. Sei Investments Co. increased its stake in shares of W. P. Carey by 17.1% during the fourth quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust's stock worth $3,056,000 after purchasing an additional 8,197 shares during the period. American Century Companies Inc. lifted its holdings in W. P. Carey by 3.2% during the 4th quarter. American Century Companies Inc. now owns 65,385 shares of the real estate investment trust's stock worth $3,562,000 after purchasing an additional 2,031 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in W. P. Carey in the 4th quarter valued at $565,000. Institutional investors own 73.73% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on WPC. Evercore ISI lifted their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Scotiabank increased their price target on 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. Wells Fargo & Company lifted their price objective on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Royal Bank of Canada increased their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $63.75.
Get Our Latest Stock Analysis on W. P. Carey
W. P. Carey Trading Up 0.4 %
W. P. Carey stock traded up $0.26 during mid-day trading on Friday, hitting $62.67. 794,407 shares of the stock were exchanged, compared to its average volume of 1,163,911. The firm's fifty day simple moving average is $60.04 and its two-hundred day simple moving average is $58.41. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $13.71 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.06 and a beta of 0.95.
W. P. Carey Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.89 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 5.68%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio is presently 170.33%.
About W. P. Carey
(
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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