First Trust Advisors LP Increases Position in W. P. Carey Inc. (NYSE:WPC)

First Trust Advisors LP increased its stake in shares of W. P. Carey Inc. (NYSE:WPCFree Report) by 348.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 373,758 shares of the real estate investment trust’s stock after buying an additional 290,455 shares during the quarter. First Trust Advisors LP owned about 0.17% of W. P. Carey worth $24,223,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of W. P. Carey in the 4th quarter valued at approximately $157,107,000. Daiwa Securities Group Inc. grew its position in W. P. Carey by 44.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after buying an additional 1,124,010 shares during the last quarter. Principal Financial Group Inc. increased its stake in W. P. Carey by 4,716.5% in the 4th quarter. Principal Financial Group Inc. now owns 802,426 shares of the real estate investment trust’s stock valued at $52,005,000 after buying an additional 785,766 shares during the period. International Assets Investment Management LLC raised its position in W. P. Carey by 6,411.6% during the 4th quarter. International Assets Investment Management LLC now owns 410,101 shares of the real estate investment trust’s stock worth $26,579,000 after buying an additional 403,803 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of W. P. Carey by 14.8% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,623,549 shares of the real estate investment trust’s stock worth $170,032,000 after acquiring an additional 338,194 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

NYSE:WPC opened at $56.04 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $12.26 billion, a PE ratio of 21.31, a P/E/G ratio of 1.05 and a beta of 0.91. The firm has a 50 day simple moving average of $56.60 and a 200-day simple moving average of $59.45. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $73.38.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.865 per share. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.17%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s dividend payout ratio is currently 131.56%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. UBS Group began coverage on shares of W. P. Carey in a research note on Friday, May 31st. They set a “neutral” rating and a $57.00 price target on the stock. Scotiabank boosted their target price on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Royal Bank of Canada reduced their price target on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Barclays initiated coverage on W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective on the stock. Finally, Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, February 12th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $62.58.

Check Out Our Latest Stock Report on WPC

W. P. Carey Profile

(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.

See Also

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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