Massachusetts Financial Services Co. MA increased its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 29.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,022,953 shares of the real estate investment trust's stock after purchasing an additional 906,622 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.84% of W. P. Carey worth $219,170,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. RFG Bristol Wealth Advisors LLC acquired a new stake in W. P. Carey in the 4th quarter worth $276,000. Geode Capital Management LLC boosted its stake in W. P. Carey by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock worth $256,201,000 after purchasing an additional 135,090 shares in the last quarter. Franklin Resources Inc. grew its holdings in W. P. Carey by 12.0% during the 4th quarter. Franklin Resources Inc. now owns 185,053 shares of the real estate investment trust's stock worth $10,082,000 after acquiring an additional 19,869 shares during the last quarter. Rodgers Brothers Inc. acquired a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $2,275,000. Finally, Hoey Investments Inc. bought a new stake in shares of W. P. Carey during the fourth quarter worth $48,000. 73.73% of the stock is owned by institutional investors.
W. P. Carey Stock Performance
Shares of WPC stock traded up $2.31 during trading on Wednesday, reaching $58.43. 1,804,855 shares of the company's stock were exchanged, compared to its average volume of 1,185,807. 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 firm's fifty day moving average price is $60.80 and its 200-day moving average price is $58.20. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The stock has a market capitalization of $12.79 billion, a PE ratio of 27.96, a PEG ratio of 1.06 and a beta of 0.81.
W. P. Carey Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.89 per share. 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. This represents a $3.56 annualized dividend and a dividend yield of 6.09%. W. P. Carey's payout ratio is presently 170.33%.
Wall Street Analysts Forecast Growth
WPC has been the subject of several recent research reports. BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and upped their target price for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Royal Bank of Canada lifted their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Wells Fargo & Company upped their price objective on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Finally, Evercore ISI boosted their price objective 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 given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, W. P. Carey currently has an average rating of "Hold" and an average target price of $63.75.
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W. P. Carey Company Profile
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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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