Nomura Asset Management Co. Ltd. raised its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 355,333 shares of the real estate investment trust's stock after buying an additional 12,560 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.16% of W. P. Carey worth $19,359,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of WPC. RFG Advisory LLC boosted its position in W. P. Carey by 91.7% during the fourth 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 during 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. FMR LLC lifted its holdings in shares of 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 valued at $50,219,000 after buying an additional 409,593 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of W. P. Carey in the 3rd quarter valued at approximately $1,267,000. Finally, Signet Financial Management LLC acquired a new position in W. P. Carey in the fourth quarter worth approximately $1,942,000. Institutional investors and hedge funds own 73.73% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on WPC shares. Wells Fargo & Company lifted 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 research note on Monday, March 10th. Royal Bank of Canada upped their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Barclays raised their target price on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a report on Tuesday, March 4th. Scotiabank upped their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research note 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 assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $63.75.
Check Out Our Latest Analysis on WPC
W. P. Carey Stock Performance
Shares of NYSE WPC traded down $0.65 during trading hours on Thursday, hitting $62.03. 502,566 shares of the company's stock were exchanged, compared to its average volume of 1,166,458. The company's 50-day moving average price is $60.46 and its 200-day moving average price is $58.42. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of 29.68, a PEG ratio of 1.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick 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 issued a dividend of $0.89 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change 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 5.74%. W. P. Carey's payout ratio is 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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