W. P. Carey Inc. (NYSE:WPC) Stake Lifted by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake 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 4,709,028 shares of the real estate investment trust’s stock after acquiring an additional 135,090 shares during the quarter. Geode Capital Management LLC owned about 2.15% of W. P. Carey worth $256,201,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings 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 buying an additional 409,593 shares during the period. Rockefeller Capital Management L.P. raised its position in W. P. Carey by 33.9% in the third quarter. Rockefeller Capital Management L.P. now owns 20,623 shares of the real estate investment trust’s stock worth $1,285,000 after acquiring an additional 5,224 shares in the last quarter. Benjamin Edwards Inc. lifted its holdings in W. P. Carey by 444.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 4,976 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 4,062 shares during the last quarter. Hilltop Holdings Inc. bought a new position in shares of W. P. Carey during the 3rd quarter valued at about $291,000. Finally, Investment Management Corp of Ontario grew its stake in shares of W. P. Carey by 46.7% in the 3rd quarter. Investment Management Corp of Ontario now owns 7,229 shares of the real estate investment trust’s stock worth $450,000 after purchasing an additional 2,300 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

WPC has been the subject of several recent research reports. Evercore ISI increased their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Barclays lifted their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, Scotiabank increased their price target on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.75.

W. P. Carey Stock Down 3.8 %

NYSE:WPC opened at $59.08 on Friday. The business’s fifty day moving average price is $60.66 and its 200 day moving average price is $58.37. The firm has a market capitalization of $12.94 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 1.06 and a beta of 0.81. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10.

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 given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 6.03%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. 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.