abrdn plc Purchases 34,751 Shares of W. P. Carey Inc. (NYSE:WPC)

abrdn plc raised its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 41.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 118,968 shares of the real estate investment trust's stock after acquiring an additional 34,751 shares during the period. abrdn plc owned approximately 0.05% of W. P. Carey worth $7,710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Daiwa Securities Group Inc. raised its holdings in shares of W. P. Carey by 44.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust's stock valued at $235,971,000 after buying an additional 1,124,010 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of W. P. Carey by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 2,835,656 shares of the real estate investment trust's stock valued at $153,352,000 after buying an additional 37,055 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of W. P. Carey by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,337,056 shares of the real estate investment trust's stock valued at $126,388,000 after buying an additional 12,982 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of W. P. Carey by 17.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,285,355 shares of the real estate investment trust's stock valued at $123,592,000 after buying an additional 334,635 shares in the last quarter. Finally, PGGM Investments raised its holdings in shares of W. P. Carey by 7.3% during the 3rd quarter. PGGM Investments now owns 2,108,963 shares of the real estate investment trust's stock valued at $114,053,000 after buying an additional 142,649 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

W. P. Carey Trading Down 1.7 %

Shares of WPC stock traded down $0.95 during trading hours on Friday, reaching $55.03. The company's stock had a trading volume of 1,167,421 shares, compared to its average volume of 981,356. The stock has a market capitalization of $12.04 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.44 and a beta of 0.86. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $74.66. The firm's fifty day simple moving average is $55.99 and its 200 day simple moving average is $58.80. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its quarterly earnings data on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.52 by $0.14. The firm had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The business's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $1.29 EPS. Equities research analysts expect that W. P. Carey Inc. will post 4.56 EPS for the current year.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.865 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from W. P. Carey's previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a dividend yield of 6.29%. W. P. Carey's payout ratio is currently 104.85%.

Analyst Ratings Changes

WPC has been the topic of a number of research reports. Royal Bank of Canada decreased their price objective on W. P. Carey from $68.00 to $65.00 and set an "outperform" rating on the stock in a report on Monday, February 12th. Wells Fargo & Company decreased their price objective on 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 reduced their price target on W. P. Carey from $62.00 to $60.00 and set a "sector perform" rating on the stock in a research report on Monday, March 4th. Barclays initiated coverage on W. P. Carey in a research report on Wednesday, March 27th. They set an "equal weight" rating and a $40.00 price target on the stock. Finally, StockNews.com initiated coverage on W. P. Carey in a research report on Thursday, January 4th. They set a "hold" rating on the stock. 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $63.36.

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.