Price T Rowe Associates Inc. MD Acquires 21,954 Shares of W. P. Carey Inc. (NYSE:WPC)

Price T Rowe Associates Inc. MD boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,058,351 shares of the real estate investment trust's stock after buying an additional 21,954 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.48% of W. P. Carey worth $57,660,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WPC. National Pension Service acquired a new stake in W. P. Carey in the 4th quarter worth approximately $25,000. Millstone Evans Group LLC bought a new stake in shares of W. P. Carey during the 4th quarter worth $37,000. Wingate Wealth Advisors Inc. bought a new stake in shares of W. P. Carey during the 4th quarter worth $37,000. Bessemer Group Inc. grew its stake in W. P. Carey by 118.6% in the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after buying an additional 402 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new position in W. P. Carey in the 4th quarter worth $48,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Price Performance

NYSE:WPC traded down $0.22 during mid-day trading on Friday, hitting $61.66. The company's stock had a trading volume of 792,887 shares, compared to its average volume of 1,172,405. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock has a fifty day moving average of $61.59 and a 200-day moving average of $58.20. The company has a market capitalization of $13.50 billion, a price-to-earnings ratio of 29.50, a P/E/G ratio of 1.06 and a beta of 0.81. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10.

W. P. Carey (NYSE:WPC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.03). W. P. Carey had a return on equity of 5.37% and a net margin of 29.11%. The company had revenue of $407.44 million for the quarter, compared to the consensus estimate of $412.99 million. During the same quarter last year, the business earned $1.14 EPS. W. P. Carey's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts forecast that W. P. Carey Inc. will post 4.87 EPS for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 5.77%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. W. P. Carey's dividend payout ratio is currently 183.51%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Evercore ISI raised their price target 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. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Scotiabank increased their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, Wells Fargo & Company upped their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, W. P. Carey has an average rating of "Hold" and a consensus price target of $108.50.

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.