Allspring Global Investments Holdings LLC Acquires 2,775 Shares of W. P. Carey Inc. (NYSE:WPC)

Allspring Global Investments Holdings LLC boosted its position in shares of W. P. Carey Inc. (NYSE:WPC – Get Rating) by 93.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,733 shares of the real estate investment trust’s stock after purchasing an additional 2,775 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in W. P. Carey were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WPC. Better Money Decisions LLC bought a new stake in W. P. Carey during the 2nd quarter worth about $25,000. Fairfield Bush & CO. bought a new stake in W. P. Carey during the 1st quarter worth about $26,000. Acadian Asset Management LLC bought a new stake in W. P. Carey during the 1st quarter worth about $26,000. SJS Investment Consulting Inc. bought a new stake in W. P. Carey during the 3rd quarter worth about $33,000. Finally, Avondale Wealth Management bought a new stake in shares of W. P. Carey in the 3rd quarter valued at about $34,000. 62.73% of the stock is owned by institutional investors.

W. P. Carey Trading Up 0.7 %

NYSE:WPC opened at $84.76 on Wednesday. W. P. Carey Inc. has a twelve month low of $67.76 and a twelve month high of $89.63. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.83. The business has a 50 day moving average price of $80.27 and a two-hundred day moving average price of $80.30. The company has a market cap of $17.63 billion, a P/E ratio of 33.64, a price-to-earnings-growth ratio of 13.32 and a beta of 0.73.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were given a dividend of $1.065 per share. The ex-dividend date was Thursday, December 29th. This represents a $4.26 dividend on an annualized basis and a yield of 5.03%. This is an increase from W. P. Carey’s previous quarterly dividend of $1.06. W. P. Carey’s dividend payout ratio is 169.05%.

Analyst Ratings Changes

WPC has been the subject of a number of recent analyst reports. StockNews.com initiated coverage on W. P. Carey in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Evercore ISI lowered their price target on W. P. Carey from $90.00 to $87.00 in a research note on Tuesday, September 27th. Capital One Financial reiterated an “overweight” rating on shares of W. P. Carey in a research report on Monday, December 5th. Raymond James boosted their price objective on W. P. Carey from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, December 19th. Finally, JMP Securities decreased their price objective on W. P. Carey from $93.00 to $86.00 and set a “market outperform” rating for the company in a research report on Monday, October 24th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, W. P. Carey currently has an average rating of “Moderate Buy” and a consensus target price of $88.00.

W. P. Carey Company Profile

(Get Rating)

W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $18 billion and a diversified portfolio of operationally-critical commercial real estate that includes 1,215 net lease properties covering approximately 142 million square feet as of September 30, 2020. For nearly five decades, the company has invested in high-quality single-tenant industrial, warehouse, office, retail and self-storage properties subject to long-term net leases with built-in rent escalators.