Wellington Management Group LLP Purchases 66,319 Shares of W. P. Carey Inc. (NYSE:WPC)

Wellington Management Group LLP increased its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 26.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 319,738 shares of the real estate investment trust's stock after acquiring an additional 66,319 shares during the period. Wellington Management Group LLP owned approximately 0.15% of W. P. Carey worth $17,419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WPC. Vanguard Group Inc. grew its stake in shares of W. P. Carey by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock worth $1,679,110,000 after purchasing an additional 242,576 shares in the last quarter. Geode Capital Management LLC lifted its holdings in W. P. Carey by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust's stock worth $284,426,000 after purchasing an additional 127,477 shares during the period. Charles Schwab Investment Management Inc. grew its position in W. P. Carey by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust's stock valued at $143,926,000 after buying an additional 43,197 shares in the last quarter. Norges Bank acquired a new position in W. P. Carey during the 4th quarter valued at about $139,381,000. Finally, Equity Investment Corp lifted its stake in shares of W. P. Carey by 26.3% in the 4th quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust's stock worth $101,918,000 after acquiring an additional 389,107 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

WPC has been the topic of several research analyst reports. BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Barclays boosted their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 4th. Wells Fargo & Company raised their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. Scotiabank boosted their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. Finally, Royal Bank of Canada raised their target price 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $63.75.

W. P. Carey Stock Up 2.0 %

Shares of W. P. Carey stock traded up $1.11 during midday trading on Friday, reaching $57.87. 1,209,639 shares of the company's stock traded hands, compared to its average volume of 1,185,540. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The company's 50 day simple moving average is $60.88 and its 200 day simple moving average is $58.12. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 6.15%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio is 170.33%.

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.