Asset Management One Co. Ltd. Buys 21,678 Shares of W. P. Carey Inc. (NYSE:WPC)

Asset Management One Co. Ltd. increased its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 475,854 shares of the real estate investment trust's stock after acquiring an additional 21,678 shares during the quarter. Asset Management One Co. Ltd. owned about 0.22% of W. P. Carey worth $31,254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of WPC. Arizona State Retirement System raised its holdings in W. P. Carey by 0.8% during the 4th quarter. Arizona State Retirement System now owns 58,795 shares of the real estate investment trust's stock worth $3,811,000 after buying an additional 439 shares during the period. Ballentine Partners LLC acquired a new stake in W. P. Carey during the 4th quarter worth approximately $451,000. State of Michigan Retirement System acquired a new stake in W. P. Carey during the 4th quarter worth approximately $3,403,000. New Mexico Educational Retirement Board acquired a new stake in W. P. Carey during the 4th quarter worth approximately $2,813,000. Finally, Fifth Third Bancorp raised its holdings in W. P. Carey by 47.3% during the 4th quarter. Fifth Third Bancorp now owns 7,926 shares of the real estate investment trust's stock worth $514,000 after buying an additional 2,545 shares during the period. Institutional investors own 73.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on WPC shares. Wells Fargo & Company dropped their target price on shares of W. P. Carey from $66.00 to $61.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 20th. Scotiabank lowered their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a "sector perform" rating on the stock in a report on Monday, March 4th. Royal Bank of Canada lowered their price objective on shares of W. P. Carey from $68.00 to $65.00 and set an "outperform" rating on the stock in a report on Monday, February 12th. Barclays began coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They issued an "equal weight" rating and a $40.00 target price for the company. Finally, Raymond James cut shares of W. P. Carey from an "outperform" rating to a "market perform" rating in a research note on Monday, February 12th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $63.36.

W. P. Carey Stock Performance

Shares of W. P. Carey stock traded up $0.17 during trading on Friday, reaching $55.27. The company's stock had a trading volume of 756,631 shares, compared to its average volume of 1,410,500. The business's 50-day moving average price is $57.27 and its 200-day moving average price is $58.82. The firm has a market cap of $12.09 billion, a PE ratio of 16.75, a P/E/G ratio of 0.44 and a beta of 0.86. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $75.13. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89.

W. P. Carey (NYSE:WPC - Get Free Report) last announced its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.52 by $0.14. The company had revenue of $410.38 million during the quarter, compared to analysts' expectations of $413.04 million. W. P. Carey had a net margin of 40.68% and a return on equity of 7.78%. W. P. Carey's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.29 earnings per share. Equities analysts forecast that W. P. Carey Inc. will post 4.57 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a $0.865 dividend. This represents a $3.46 dividend on an annualized basis and a dividend yield of 6.26%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from W. P. Carey's previous quarterly dividend of $0.86. W. P. Carey's payout ratio is presently 104.85%.

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.