Meiji Yasuda Asset Management Co Ltd. Sells 345 Shares of W. P. Carey Inc. (NYSE:WPC)

Meiji Yasuda Asset Management Co Ltd. decreased its stake in W. P. Carey Inc. (NYSE:WPC) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,360 shares of the real estate investment trust’s stock after selling 345 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in W. P. Carey were worth $564,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of W. P. Carey by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust’s stock worth $1,679,110,000 after purchasing an additional 242,576 shares during the last quarter. Geode Capital Management LLC boosted its position in W. P. Carey by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after buying an additional 127,477 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in W. P. Carey by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust’s stock worth $143,926,000 after buying an additional 43,197 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of W. P. Carey by 660.9% during the third 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 worth $127,969,000 after buying an additional 1,784,131 shares in the last quarter. Finally, Equity Investment Corp raised its stake in shares of W. P. Carey by 26.3% in the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock valued at $101,918,000 after acquiring an additional 389,107 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

Shares of NYSE:WPC opened at $62.44 on Friday. The stock has a market capitalization of $13.66 billion, a P/E ratio of 29.87, a P/E/G ratio of 1.06 and a beta of 0.95. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The business has a 50-day moving average price of $59.90 and a two-hundred day moving average price of $58.43.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.89 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a yield of 5.70%. The ex-dividend date is Monday, March 31st. W. P. Carey’s dividend payout ratio is currently 170.33%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Scotiabank increased their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Royal Bank of Canada increased their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Wells Fargo & Company lifted their price target on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Evercore ISI increased their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $63.75.

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.