Te Ahumairangi Investment Management Ltd Raises Holdings in W. P. Carey Inc. (NYSE:WPC)

Te Ahumairangi Investment Management Ltd lifted its holdings in W. P. Carey Inc. (NYSE:WPC) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,027 shares of the real estate investment trust’s stock after buying an additional 3,746 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in W. P. Carey were worth $4,578,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in shares of W. P. Carey by 12.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 192,869 shares of the real estate investment trust’s stock worth $12,016,000 after purchasing an additional 21,563 shares during the period. FMR LLC boosted its holdings in W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after buying an additional 409,593 shares in the last quarter. Townsquare Capital LLC grew its position in W. P. Carey by 5.2% during the third quarter. Townsquare Capital LLC now owns 11,099 shares of the real estate investment trust’s stock worth $691,000 after buying an additional 550 shares during the period. CreativeOne Wealth LLC increased its holdings in W. P. Carey by 14.1% in the third quarter. CreativeOne Wealth LLC now owns 4,236 shares of the real estate investment trust’s stock valued at $264,000 after buying an additional 523 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of W. P. Carey by 14.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,288 shares of the real estate investment trust’s stock valued at $5,812,000 after acquiring an additional 11,490 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WPC. Wells Fargo & Company raised their price objective on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Evercore ISI raised their price target on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Barclays boosted their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. Scotiabank lifted their target price on shares of 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. Finally, Royal Bank of Canada upped their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Stock Performance

NYSE:WPC opened at $63.01 on Wednesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $13.79 billion, a PE ratio of 30.15, a P/E/G ratio of 1.06 and a beta of 0.95. The firm has a 50 day simple moving average of $60.31 and a 200-day simple moving average of $58.39. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.89 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.65%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 170.33%.

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.