Invesco Ltd. Buys 72,833 Shares of W. P. Carey Inc. (NYSE:WPC)

Invesco Ltd. raised its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 750,151 shares of the real estate investment trust's stock after acquiring an additional 72,833 shares during the quarter. Invesco Ltd. owned approximately 0.34% of W. P. Carey worth $40,868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can grew its position in W. P. Carey by 8.4% during the fourth quarter. Bank of Montreal Can now owns 35,927 shares of the real estate investment trust's stock valued at $1,957,000 after buying an additional 2,770 shares during the period. Cerity Partners LLC boosted its stake in shares of W. P. Carey by 7.1% during the 4th quarter. Cerity Partners LLC now owns 26,674 shares of the real estate investment trust's stock worth $1,496,000 after acquiring an additional 1,763 shares during the last quarter. Federated Hermes Inc. grew its position in shares of W. P. Carey by 11.3% during the 4th quarter. Federated Hermes Inc. now owns 27,494 shares of the real estate investment trust's stock valued at $1,498,000 after acquiring an additional 2,801 shares during the period. Russell Investments Group Ltd. increased its stake in shares of W. P. Carey by 33.0% in the 4th quarter. Russell Investments Group Ltd. now owns 83,494 shares of the real estate investment trust's stock worth $4,549,000 after purchasing an additional 20,695 shares in the last quarter. Finally, Oarsman Capital Inc. raised its holdings in W. P. Carey by 36.7% in the 4th quarter. Oarsman Capital Inc. now owns 3,075 shares of the real estate investment trust's stock worth $168,000 after purchasing an additional 825 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

W. P. Carey stock traded up $0.77 during mid-day trading on Tuesday, reaching $62.08. 1,164,882 shares of the company's stock traded hands, compared to its average volume of 1,180,965. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The company has a market cap of $13.59 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 1.06 and a beta of 0.81. The stock has a 50 day moving average of $61.54 and a two-hundred day moving average of $58.10. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.89 dividend. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date was Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.73%. W. P. Carey's dividend payout ratio (DPR) is presently 170.33%.

Analysts Set New Price Targets

WPC has been the subject of several recent research reports. Scotiabank boosted their price target on W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a report on Wednesday, March 12th. Wells Fargo & Company upped their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Evercore ISI boosted their price objective 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 lifted their target price on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, March 4th. Finally, Royal Bank of Canada increased their price objective 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $63.75.

W. P. Carey Company 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.