Sumitomo Mitsui DS Asset Management Company Ltd Acquires 1,129 Shares of W. P. Carey Inc. (NYSE:WPC)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 2.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 55,903 shares of the real estate investment trust’s stock after purchasing an additional 1,129 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in W. P. Carey were worth $3,623,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raleigh Capital Management Inc. lifted its position in shares of W. P. Carey by 3.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 191 shares in the last quarter. Gradient Capital Advisors LLC lifted its holdings in W. P. Carey by 0.6% during the fourth quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust’s stock worth $2,215,000 after acquiring an additional 199 shares during the period. Capital Planning Advisors LLC boosted its position in W. P. Carey by 5.5% in the third quarter. Capital Planning Advisors LLC now owns 3,953 shares of the real estate investment trust’s stock worth $214,000 after purchasing an additional 207 shares during the last quarter. Retirement Planning Co of New England Inc. grew its stake in W. P. Carey by 4.7% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 4,881 shares of the real estate investment trust’s stock valued at $264,000 after purchasing an additional 221 shares during the period. Finally, Main Street Financial Solutions LLC raised its stake in shares of W. P. Carey by 4.6% during the 3rd quarter. Main Street Financial Solutions LLC now owns 5,058 shares of the real estate investment trust’s stock worth $274,000 after purchasing an additional 224 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. StockNews.com initiated coverage on shares of W. P. Carey in a research note on Thursday, January 4th. They issued a “hold” rating for the company. Royal Bank of Canada reduced their price target on W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Barclays initiated coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price on the stock. Finally, Raymond James lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.36.

W. P. Carey Stock Performance

W. P. Carey stock opened at $56.22 on Tuesday. The firm has a fifty day simple moving average of $56.05 and a two-hundred day simple moving average of $58.80. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $74.66. The company has a market capitalization of $12.30 billion, a PE ratio of 17.04, a P/E/G ratio of 0.45 and a beta of 0.86. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89.

W. P. Carey (NYSE:WPC) last issued its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. The company had revenue of $410.38 million during the quarter, compared to analysts’ expectations of $413.04 million. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. W. P. Carey’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 EPS. Research analysts expect that W. P. Carey Inc. will post 4.57 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.865 per share. The ex-dividend date was Wednesday, March 27th. This represents a $3.46 annualized dividend and a yield of 6.15%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s dividend payout ratio is presently 104.85%.

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.