W. P. Carey Inc. (NYSE:WPC) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in W. P. Carey Inc. (NYSE:WPC) by 19.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 663,317 shares of the real estate investment trust’s stock after acquiring an additional 109,438 shares during the quarter. Victory Capital Management Inc. owned about 0.30% of W. P. Carey worth $36,138,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. National Pension Service acquired a new stake in shares of W. P. Carey during the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of W. P. Carey during the fourth quarter worth $37,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of W. P. Carey during the third quarter worth $44,000. Plato Investment Management Ltd acquired a new stake in shares of W. P. Carey during the fourth quarter worth $48,000. Finally, Roxbury Financial LLC acquired a new stake in shares of W. P. Carey during the fourth quarter worth $58,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Barclays increased their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. Royal Bank of Canada increased their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Evercore ISI increased their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, UBS Group cut their price objective on 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and an average price target of $62.88.

W. P. Carey Trading Up 1.2 %

Shares of WPC stock opened at $64.74 on Monday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $65.45. The stock has a market cap of $14.17 billion, a P/E ratio of 30.98, a P/E/G ratio of 1.06 and a beta of 0.95. The business has a fifty day simple moving average of $57.75 and a 200-day simple moving average of $58.19. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.44%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is currently 168.42%.

About W. P. Carey

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.