Securian Asset Management Inc. Acquires Shares of 18,454 W. P. Carey Inc. (NYSE:WPC)

Securian Asset Management Inc. purchased a new position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,454 shares of the real estate investment trust's stock, valued at approximately $1,196,000.

A number of other institutional investors also recently made changes to their positions in the business. First United Bank & Trust purchased a new position in W. P. Carey during the 4th quarter valued at about $27,000. Central Bank & Trust Co. bought a new stake in shares of W. P. Carey during the 4th quarter valued at about $28,000. FNY Investment Advisers LLC purchased a new position in shares of W. P. Carey during the fourth quarter valued at about $32,000. EdgeRock Capital LLC bought a new position in W. P. Carey in the fourth quarter worth about $32,000. Finally, Covestor Ltd raised its stake in W. P. Carey by 316.5% in the third quarter. Covestor Ltd now owns 783 shares of the real estate investment trust's stock worth $43,000 after buying an additional 595 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company's stock.

W. P. Carey Stock Performance

Shares of NYSE:WPC traded down $0.12 during midday trading on Tuesday, reaching $59.99. 735,603 shares of the company's stock traded hands, compared to its average volume of 1,311,582. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $73.38. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 22.86, a P/E/G ratio of 0.48 and a beta of 0.86. The stock has a 50 day moving average of $56.34 and a 200 day moving average of $59.31.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.865 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 annualized dividend and a yield of 5.77%. This is a boost from W. P. Carey's previous quarterly dividend of $0.86. W. P. Carey's dividend payout ratio is currently 131.56%.

Wall Street Analyst Weigh In

WPC has been the topic of a number of research analyst reports. Scotiabank upped their target price on W. P. Carey from $55.00 to $60.00 and gave the stock a "sector perform" rating in a report on Thursday, May 16th. 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. Royal Bank of Canada decreased their price target on shares of W. P. Carey from $65.00 to $63.00 and set an "outperform" rating for the company in a research note on Friday, May 3rd. Raymond James cut shares of W. P. Carey from an "outperform" rating to a "market perform" rating in a research report on Monday, February 12th. Finally, Barclays started coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They issued an "equal weight" rating and a $40.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $63.18.

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.