Pinebridge Investments L.P. Boosts Holdings in W. P. Carey Inc. (NYSE:WPC)

Pinebridge Investments L.P. raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 65.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,625 shares of the real estate investment trust’s stock after buying an additional 33,160 shares during the period. Pinebridge Investments L.P.’s holdings in W. P. Carey were worth $4,556,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WPC. Norges Bank bought a new position in W. P. Carey in the 4th quarter worth $139,381,000. Demars Financial Group LLC raised its stake in shares of W. P. Carey by 10,001.1% in the fourth quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock worth $54,387,000 after buying an additional 988,409 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of W. P. Carey by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock valued at $219,170,000 after buying an additional 906,622 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of W. P. Carey during the 4th quarter valued at approximately $31,442,000. Finally, Equity Investment Corp increased its holdings in W. P. Carey by 26.3% in the 4th quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock worth $101,918,000 after acquiring an additional 389,107 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WPC has been the subject of a number of recent analyst reports. 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. Royal Bank of Canada increased their price target 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. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Scotiabank increased their target price on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Finally, Wells Fargo & Company boosted their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. One research 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. Based on data from MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Stock Performance

NYSE WPC opened at $60.62 on Friday. 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 Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The business has a 50 day simple moving average of $61.63 and a two-hundred day simple moving average of $58.14. The stock has a market capitalization of $13.27 billion, a PE ratio of 29.00, a P/E/G ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.89 dividend. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.87%. W. P. Carey’s dividend payout ratio (DPR) 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.