Van ECK Associates Corp Buys 358 Shares of W. P. Carey Inc. (NYSE:WPC)

Van ECK Associates Corp grew its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 0.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 99,091 shares of the real estate investment trust’s stock after buying an additional 358 shares during the period. Van ECK Associates Corp’s holdings in W. P. Carey were worth $5,399,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Geode Capital Management LLC boosted 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of W. P. Carey by 4.1% during the 3rd 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 purchasing an additional 103,147 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of W. P. Carey by 660.9% in the 3rd 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 valued at $127,969,000 after buying an additional 1,784,131 shares during the period. JPMorgan Chase & Co. grew its stake in shares of W. P. Carey by 21.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock valued at $94,325,000 after buying an additional 264,230 shares during the period. Finally, Equity Investment Corp increased its position in W. P. Carey by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after buying an additional 9,610 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC opened at $60.26 on Wednesday. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $64.26. The company has a 50-day simple moving average of $55.58 and a two-hundred day simple moving average of $57.60. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $13.19 billion, a PE ratio of 23.72, 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. Investors of record on Tuesday, December 31st were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 5.84%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 168.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $60.00 to $67.00 in a research note on Tuesday. 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 note on Thursday, February 13th. UBS Group cut their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Finally, Scotiabank cut their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.63.

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.