Achmea Investment Management B.V. lifted its position in shares of W.P. Carey Inc. (NYSE:WPC - Free Report) by 10.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 173,202 shares of the real estate investment trust's stock after buying an additional 16,540 shares during the period. Achmea Investment Management B.V. owned approximately 0.08% of W.P. Carey worth $10,931,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in shares of W.P. Carey in the 4th quarter valued at approximately $139,381,000. Demars Financial Group LLC boosted its stake in W.P. Carey by 10,001.1% during the 4th quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust's stock valued at $54,387,000 after purchasing an additional 988,409 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of W.P. Carey by 29.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock worth $219,170,000 after buying an additional 906,622 shares during the period. Northern Trust Corp grew its stake in shares of W.P. Carey by 40.3% in the fourth quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust's stock worth $143,894,000 after purchasing an additional 758,627 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in W.P. Carey during the 4th quarter valued at about $31,442,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
WPC has been the topic of several research reports. Royal Bank Of Canada boosted their price target on shares of W.P. Carey from $410.00 to $420.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Barclays set a $61.00 price target on W.P. Carey and gave the company an "underweight" rating in a research report on Wednesday, May 21st. Wells Fargo & Company lifted their target price on shares of 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. Scotiabank lifted their price objective on shares of W.P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research note on Wednesday, March 12th. Finally, BNP Paribas Exane raised W.P. Carey from an "underperform" rating to a "neutral" rating and set a $66.00 price objective on the stock in a research note on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, W.P. Carey has an average rating of "Hold" and a consensus target price of $100.40.
View Our Latest Stock Report on WPC
W.P. Carey Trading Up 1.0%
Shares of NYSE:WPC traded up $0.65 during trading on Tuesday, hitting $63.03. 1,498,266 shares of the company's stock were exchanged, compared to its average volume of 1,166,234. The firm has a 50-day moving average price of $62.11 and a two-hundred day moving average price of $59.81. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.92. The firm has a market cap of $13.80 billion, a P/E ratio of 32.49, a PEG ratio of 7.00 and a beta of 0.80. W.P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10.
W.P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). W.P. Carey had a net margin of 26.66% and a return on equity of 5.02%. The firm had revenue of $407.44 million for the quarter, compared to analyst estimates of $412.99 million. During the same quarter in the prior year, the firm posted $1.14 EPS. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts predict that W.P. Carey Inc. will post 4.87 earnings per share for the current year.
W.P. Carey Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Monday, June 30th. This is an increase from W.P. Carey's previous quarterly dividend of $0.89. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.71%. W.P. Carey's dividend payout ratio (DPR) is 183.51%.
About W.P. Carey
(
Free Report)
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.
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