Northern Trust Corp Has $143.89 Million Stock Position in W. P. Carey Inc. (NYSE:WPC)

Northern Trust Corp lifted its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 40.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,641,229 shares of the real estate investment trust's stock after acquiring an additional 758,627 shares during the quarter. Northern Trust Corp owned approximately 1.21% of W. P. Carey worth $143,894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of W. P. Carey by 0.8% in 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 raised its position in shares of W. P. Carey by 3.0% in 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 during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in W. P. Carey by 29.1% in the fourth 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 during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of 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 worth $143,926,000 after purchasing an additional 43,197 shares during the period. Finally, Norges Bank purchased a new position in shares of W. P. Carey in the 4th quarter valued at about $139,381,000. 73.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of research reports. Scotiabank upped 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 report on Wednesday, March 12th. Barclays increased 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. BMO Capital Markets raised 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 note on Tuesday, February 18th. Wells Fargo & Company raised their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Finally, JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, W. P. Carey currently has a consensus rating of "Hold" and a consensus price target of $108.50.

W. P. Carey Stock Down 0.2 %

Shares of WPC traded down $0.14 during midday trading on Tuesday, reaching $61.38. 778,652 shares of the company were exchanged, compared to its average volume of 1,167,848. 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 stock has a 50-day moving average price of $61.54 and a 200-day moving average price of $58.19. The company has a market cap of $13.44 billion, a price-to-earnings ratio of 29.37, a P/E/G ratio of 1.06 and a beta of 0.78.

W. P. Carey (NYSE:WPC - Get Free Report) last posted 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 for 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 was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. Research analysts expect 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. This is a positive change 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 5.80%. The ex-dividend date was Monday, March 31st. W. P. Carey's dividend payout ratio is currently 183.51%.

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.