iA Global Asset Management Inc. Buys Shares of 4,370 W. P. Carey Inc. (NYSE:WPC)

iA Global Asset Management Inc. bought a new stake in shares of W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,370 shares of the real estate investment trust’s stock, valued at approximately $238,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of W. P. Carey by 660.9% in 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 purchasing an additional 1,784,131 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of W. P. Carey in the fourth quarter valued at about $31,442,000. FMR LLC grew its position in shares of W. P. Carey by 103.3% in the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after purchasing an additional 409,593 shares during the last quarter. Equity Investment Corp grew its position in shares of W. P. Carey by 26.3% in the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock valued at $101,918,000 after purchasing an additional 389,107 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in W. P. Carey by 21.1% during the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock worth $94,325,000 after buying an additional 264,230 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

NYSE:WPC opened at $61.62 on Friday. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The firm has a 50 day moving average of $59.29 and a 200-day moving average of $58.38. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $13.48 billion, a P/E ratio of 29.48, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.89 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.78%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 170.33%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. 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, February 13th. Evercore ISI lifted their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, Wells Fargo & Company lifted their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.75.

W. P. Carey 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.