W. P. Carey Inc. (NYSE:WPC) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in W. P. Carey Inc. (NYSE:WPC) by 26.2% during the 4th quarter, HoldingsChannel reports. The firm owned 319,738 shares of the real estate investment trust’s stock after buying an additional 66,319 shares during the quarter. Wellington Management Group LLP’s holdings in W. P. Carey were worth $17,419,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. National Pension Service purchased a new stake in W. P. Carey during the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of W. P. Carey during the 4th quarter valued at about $37,000. Millstone Evans Group LLC purchased a new position in shares of W. P. Carey in the 4th quarter valued at about $37,000. Plato Investment Management Ltd acquired a new position in W. P. Carey in the 4th quarter worth about $48,000. Finally, Roxbury Financial LLC purchased a new position in W. P. Carey during the fourth quarter worth approximately $58,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Down 1.7 %

Shares of W. P. Carey stock opened at $56.01 on Wednesday. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $12.26 billion, a P/E ratio of 26.80, a P/E/G ratio of 1.06 and a beta of 0.81. The stock’s 50 day simple moving average is $60.70 and its 200-day simple moving average is $58.23.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.89 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a yield of 6.36%. The ex-dividend date is Monday, March 31st. W. P. Carey’s dividend payout ratio is presently 170.33%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WPC. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Wells Fargo & Company lifted their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Evercore ISI upped their price target on shares of 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. Finally, Royal Bank of Canada boosted their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey currently has an average 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.