Victory Capital Management Inc. Increases Position in W. P. Carey Inc. (NYSE:WPC)

Victory Capital Management Inc. raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 663,317 shares of the real estate investment trust's stock after buying an additional 109,438 shares during the period. Victory Capital Management Inc. owned about 0.30% of W. P. Carey worth $36,138,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of W. P. Carey by 660.9% during 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. FMR LLC raised its stake in shares of W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust's stock valued at $50,219,000 after acquiring an additional 409,593 shares in the last quarter. Equity Investment Corp raised its stake in shares of W. P. Carey by 26.3% during 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. JPMorgan Chase & Co. raised its stake in shares of W. P. Carey by 21.1% during 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. Finally, BNP Paribas Financial Markets raised its stake in shares of W. P. Carey by 138.0% during the third quarter. BNP Paribas Financial Markets now owns 306,304 shares of the real estate investment trust's stock valued at $19,083,000 after acquiring an additional 177,617 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

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Analyst Ratings Changes

Several analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Thursday, November 14th. Scotiabank lifted 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. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Barclays boosted their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada boosted their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $63.75.

W. P. Carey Stock Down 1.6 %

Shares of WPC stock traded down $0.99 during trading hours on Wednesday, reaching $61.97. 1,235,658 shares of the company's stock were exchanged, compared to its average volume of 1,113,081. The stock's 50 day moving average is $58.12 and its 200-day moving average is $58.25. The company has a market cap of $13.56 billion, a price-to-earnings ratio of 29.65, a P/E/G ratio of 1.06 and a beta of 0.95. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio 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.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.68%. W. P. Carey's dividend payout ratio is presently 168.42%.

W. P. Carey Company 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.