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

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 670,027 shares of the real estate investment trust’s stock after acquiring an additional 19,418 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.31% of W. P. Carey worth $36,503,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WPC. Creative Planning grew its holdings in W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after acquiring an additional 207 shares during the period. Applied Capital LLC FL acquired a new position in W. P. Carey during the third quarter worth $261,000. Griffin Asset Management Inc. boosted its position in W. P. Carey by 5.0% during the third quarter. Griffin Asset Management Inc. now owns 30,562 shares of the real estate investment trust’s stock worth $1,904,000 after purchasing an additional 1,445 shares in the last quarter. Presima Securities ULC boosted its position in W. P. Carey by 6.7% during the third quarter. Presima Securities ULC now owns 33,300 shares of the real estate investment trust’s stock worth $2,075,000 after purchasing an additional 2,100 shares in the last quarter. Finally, Wolff Wiese Magana LLC boosted its position in W. P. Carey by 65.4% during the third quarter. Wolff Wiese Magana LLC now owns 918 shares of the real estate investment trust’s stock worth $57,000 after purchasing an additional 363 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. UBS Group decreased their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Scotiabank decreased their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. Finally, Barclays decreased their target price on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.00.

W. P. Carey Stock Up 0.8 %

Shares of NYSE:WPC opened at $56.16 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $64.26. The stock’s fifty day simple moving average is $55.29 and its 200-day simple moving average is $57.60. The company has a market capitalization of $12.29 billion, a P/E ratio of 22.11, a P/E/G ratio of 1.02 and a beta of 0.97.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.88 per share. The ex-dividend date was Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 6.27%. W. P. Carey’s dividend payout ratio is 138.58%.

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.