Mackenzie Financial Corp Purchases 7,352 Shares of W. P. Carey Inc. (NYSE:WPC)

Mackenzie Financial Corp increased its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 63.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,024 shares of the real estate investment trust's stock after purchasing an additional 7,352 shares during the quarter. Mackenzie Financial Corp's holdings in W. P. Carey were worth $1,036,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of W. P. Carey by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock worth $1,679,110,000 after buying an additional 242,576 shares in the last quarter. Geode Capital Management LLC increased its holdings in W. P. Carey by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock valued at $256,201,000 after purchasing an additional 135,090 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in W. P. Carey by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock valued at $219,170,000 after purchasing an additional 906,622 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in W. P. Carey by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust's stock valued at $143,926,000 after purchasing an additional 43,197 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in W. P. Carey by 40.3% during the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust's stock valued at $143,894,000 after purchasing an additional 758,627 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Trading Down 0.0%

Shares of WPC traded down $0.01 on Tuesday, reaching $62.26. 510,605 shares of the company's stock were exchanged, compared to its average volume of 1,226,925. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $13.63 billion, a P/E ratio of 29.81, a price-to-earnings-growth ratio of 1.06 and a beta of 0.78. The business has a 50 day moving average price of $60.92 and a two-hundred day moving average price of $58.89. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10.

W. P. Carey (NYSE:WPC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing analysts' consensus estimates of $1.20 by ($0.03). The company had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The company's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.14 EPS. Research analysts anticipate that W. P. Carey Inc. will post 4.87 earnings per share for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.89 dividend. The ex-dividend date was Monday, March 31st. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.72%. W. P. Carey's dividend payout ratio is 183.51%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WPC shares. BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and raised their target price for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Royal Bank of Canada raised their price objective on shares of W. P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. UBS Group lowered their price objective on shares of W. P. Carey from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company raised their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, Barclays set a $61.00 price objective on shares of W. P. Carey and gave the stock an "underweight" rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $109.00.

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.