Asset Management One Co. Ltd. Boosts Position in W. P. Carey Inc. (NYSE:WPC)

Asset Management One Co. Ltd. raised its stake in W. P. Carey Inc. (NYSE:WPC) by 1.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 433,241 shares of the real estate investment trust’s stock after buying an additional 4,279 shares during the period. Asset Management One Co. Ltd.’s holdings in W. P. Carey were worth $23,616,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of W. P. Carey by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock worth $161,894,000 after buying an additional 103,147 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased 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 buying an additional 1,784,131 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of W. P. Carey by 21.1% in 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, Equity Investment Corp lifted its stake in W. P. Carey by 0.7% in the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after acquiring an additional 9,610 shares during the period. 73.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WPC. UBS Group dropped their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Scotiabank dropped their price objective 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. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday. Barclays lowered their price target on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. Finally, Royal Bank of Canada increased their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.00.

W. P. Carey Stock Down 0.3 %

WPC stock opened at $58.72 on Friday. The stock has a market capitalization 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 52 week low of $52.91 and a 52 week high of $64.26. 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 firm has a 50 day moving average of $55.44 and a 200 day moving average of $57.57.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change 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 5.99%. W. P. Carey’s 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.