Massachusetts Financial Services Co. MA Acquires 334,635 Shares of W. P. Carey Inc. (NYSE:WPC)

Massachusetts Financial Services Co. MA boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPCFree Report) by 17.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,285,355 shares of the real estate investment trust’s stock after acquiring an additional 334,635 shares during the period. Massachusetts Financial Services Co. MA owned about 1.05% of W. P. Carey worth $123,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC lifted its position in shares of W. P. Carey by 104,493.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,615,688 shares of the real estate investment trust’s stock valued at $360,716,000 after buying an additional 4,611,275 shares during the last quarter. Norges Bank acquired a new stake in W. P. Carey in the fourth quarter worth about $174,406,000. JPMorgan Chase & Co. grew its stake in shares of W. P. Carey by 46.1% during the first quarter. JPMorgan Chase & Co. now owns 6,558,610 shares of the real estate investment trust’s stock worth $507,966,000 after acquiring an additional 2,068,458 shares during the last quarter. Cohen & Steers Inc. acquired a new stake in W. P. Carey in the 2nd quarter worth approximately $99,983,000. Finally, Daiwa Securities Group Inc. boosted its stake in W. P. Carey by 130.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,516,956 shares of the real estate investment trust’s stock worth $136,117,000 after purchasing an additional 1,422,490 shares in the last quarter. Hedge funds and other institutional investors own 62.62% of the company’s stock.

W. P. Carey Stock Up 0.4 %

W. P. Carey stock opened at $60.91 on Thursday. The business’s 50-day moving average price is $64.37 and its 200 day moving average price is $61.51. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.85. The firm has a market cap of $13.32 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 7.68 and a beta of 0.89. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $85.36.

W. P. Carey Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were given a dividend of $0.86 per share. The ex-dividend date was Thursday, December 28th. This represents a $3.44 annualized dividend and a yield of 5.65%. W. P. Carey’s dividend payout ratio is presently 94.51%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of W. P. Carey from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, January 11th. JMP Securities lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, November 13th. StockNews.com assumed coverage on W. P. Carey in a report on Thursday, January 4th. They issued a “hold” rating on the stock. Finally, Raymond James lifted their target price on W. P. Carey from $63.00 to $68.00 and gave the stock an “outperform” rating in a report on Monday, January 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $66.60.

Read Our Latest Research Report on W. P. Carey

W. P. Carey Profile

(Free Report)

Celebrating its 50th anniversary, 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 1,413 net lease properties covering approximately 171 million square feet and a portfolio of 86 self-storage operating properties, pro forma for the Spin-Off of NLOP, as of September 30, 2023.

Further Reading

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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