Sumitomo Mitsui Trust Group Inc. Grows Stock Position in W. P. Carey Inc. (NYSE:WPC)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 670,027 shares of the real estate investment trust’s stock after buying an additional 19,418 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in W. P. Carey were worth $36,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in W. P. Carey by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock worth $284,426,000 after acquiring an additional 127,477 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in W. P. Carey by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock worth $161,894,000 after acquiring an additional 103,147 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in W. P. Carey by 660.9% during 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 acquiring an additional 1,784,131 shares during the last quarter. JPMorgan Chase & Co. increased its stake in W. P. Carey by 21.1% during 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 last quarter. Finally, Equity Investment Corp increased its stake in W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after acquiring an additional 9,610 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $56.16 on Wednesday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $64.26. The business has a 50 day moving average price of $55.29 and a two-hundred day moving average price of $57.60. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a market cap of $12.29 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is 138.58%.

Analysts Set New Price Targets

Several brokerages have commented on WPC. Barclays dropped their price target on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Scotiabank lowered their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Finally, UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.00.

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.