W. P. Carey Inc. (NYSE:WPC) Shares Acquired by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 670,027 shares of the real estate investment trust's stock after buying an additional 19,418 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.31% of W. P. Carey worth $36,503,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. RFG Advisory LLC grew its stake in W. P. Carey by 91.7% during the 4th 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 in the last quarter. Equity Investment Corp grew its stake in W. P. Carey by 0.7% during the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust's stock valued at $92,305,000 after purchasing an additional 9,610 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new stake in W. P. Carey during the 3rd quarter valued at approximately $1,692,000. abrdn plc grew its stake in W. P. Carey by 9.9% during the 3rd quarter. abrdn plc now owns 102,657 shares of the real estate investment trust's stock valued at $6,396,000 after purchasing an additional 9,229 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in 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 valued at $1,980,000 after purchasing an additional 2,075 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Stock Performance

W. P. Carey stock traded down $0.15 during mid-day trading on Friday, hitting $58.72. 1,337,284 shares of the company's stock traded hands, compared to its average volume of 849,474. The firm has a 50 day moving average price of $55.44 and a 200 day moving average price of $57.57. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The company has a market cap of $12.85 billion, a PE ratio of 23.12, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $64.26.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 5.99%. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is presently 138.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays lowered their price objective on W. P. Carey from $59.00 to $56.00 and set an "underweight" rating for the company in a research note on Tuesday, February 4th. Royal Bank of Canada lifted their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday. Scotiabank decreased their target price on W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating for the company in a research report on Thursday, January 16th. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a research report on Thursday. Finally, UBS Group reduced their price objective on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $62.00.

About W. P. Carey

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.