Howe & Rusling Inc. Raises Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Howe & Rusling Inc. raised its position in shares of W. P. Carey Inc. (NYSE:WPC) by 11.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,218 shares of the real estate investment trust’s stock after buying an additional 1,332 shares during the quarter. Howe & Rusling Inc.’s holdings in W. P. Carey were worth $720,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Elo Mutual Pension Insurance Co lifted its holdings in shares of W. P. Carey by 3.6% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 20,144 shares of the real estate investment trust’s stock valued at $1,097,000 after purchasing an additional 707 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in W. P. Carey by 1.1% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 301,994 shares of the real estate investment trust’s stock valued at $16,564,000 after acquiring an additional 3,357 shares during the period. Korea Investment CORP boosted its holdings in shares of W. P. Carey by 1.9% during the 4th quarter. Korea Investment CORP now owns 65,523 shares of the real estate investment trust’s stock valued at $3,570,000 after acquiring an additional 1,200 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of W. P. Carey by 11.4% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 119,836 shares of the real estate investment trust’s stock worth $6,529,000 after acquiring an additional 12,294 shares during the period. Finally, TIAA Trust National Association purchased a new position in shares of W. P. Carey during the fourth quarter valued at approximately $261,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Down 0.7 %

Shares of WPC opened at $62.44 on Friday. The firm has a market capitalization of $13.66 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 1.06 and a beta of 0.95. 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 company has a 50-day moving average of $59.90 and a 200 day moving average of $58.43.

W. P. Carey Increases Dividend

The firm 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 dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 5.70%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. W. P. Carey’s dividend payout ratio is presently 170.33%.

Analyst Ratings Changes

A number of equities research analysts have commented on WPC shares. Evercore ISI lifted their target price 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 upped their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Scotiabank upped their price target on shares of 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. Finally, Barclays raised their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.