CANADA LIFE ASSURANCE Co Has $24.77 Million Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

CANADA LIFE ASSURANCE Co lifted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 3.3% in the 4th quarter, HoldingsChannel reports. The fund owned 454,720 shares of the real estate investment trust’s stock after purchasing an additional 14,505 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in W. P. Carey were worth $24,766,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WPC. RFG Advisory LLC boosted its position in shares of W. P. Carey by 91.7% during the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after buying an additional 3,049 shares during the last quarter. Sei Investments Co. increased its stake in W. P. Carey by 17.1% in the 4th quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust’s stock valued at $3,056,000 after buying an additional 8,197 shares during the last quarter. Signet Financial Management LLC purchased a new stake in shares of W. P. Carey during the fourth quarter valued at approximately $1,942,000. Diversified Trust Co purchased a new position in W. P. Carey in the fourth quarter worth $534,000. Finally, JPMorgan Chase & Co. increased its position in shares of W. P. Carey by 21.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock valued at $94,325,000 after purchasing an additional 264,230 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

WPC has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Barclays lifted their price objective on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. Royal Bank of Canada lifted their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Scotiabank lifted their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Finally, BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Trading Up 1.5 %

Shares of WPC opened at $62.18 on Friday. The firm’s 50 day simple moving average is $61.40 and its 200 day simple moving average is $58.09. The company has a market capitalization of $13.62 billion, a P/E ratio of 29.75, a P/E/G ratio of 1.06 and a beta of 0.81. 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.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.89 per share. The ex-dividend date was Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 5.73%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 170.33%.

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.