Royal London Asset Management Ltd. Purchases 983 Shares of W. P. Carey Inc. (NYSE:WPC)

Royal London Asset Management Ltd. lifted its holdings in W. P. Carey Inc. (NYSE:WPC) by 0.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 114,899 shares of the real estate investment trust’s stock after buying an additional 983 shares during the period. Royal London Asset Management Ltd.’s holdings in W. P. Carey were worth $6,260,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in 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 worth $127,969,000 after purchasing an additional 1,784,131 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of W. P. Carey in the 4th quarter worth about $31,442,000. FMR LLC grew its position in W. P. Carey by 103.3% during 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. Equity Investment Corp increased its holdings in W. P. Carey by 26.3% during the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock worth $101,918,000 after buying an additional 389,107 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in W. P. Carey by 21.1% in 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 acquiring an additional 264,230 shares during the period. 73.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Barclays boosted their target price on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. Evercore ISI increased their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Scotiabank lifted their price objective on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. Finally, Wells Fargo & Company upped their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Trading Up 0.0 %

Shares of W. P. Carey stock opened at $61.62 on Monday. The company’s 50-day moving average price is $59.29 and its 200-day moving average price is $58.36. The company has a market cap of $13.48 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. 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 Increases Dividend

The company also recently declared 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 represents a $3.56 annualized dividend and a yield of 5.78%. This is an increase 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 (DPR) is presently 170.33%.

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.