Raymond James Financial Inc. acquired a new position in W. P. Carey Inc. (NYSE:WPC - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 577,138 shares of the real estate investment trust's stock, valued at approximately $31,442,000. Raymond James Financial Inc. owned approximately 0.26% of W. P. Carey at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its stake in W. P. Carey by 7.0% during the 3rd quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust's stock valued at $1,980,000 after purchasing an additional 2,075 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of W. P. Carey during the third quarter worth approximately $262,000. Franklin Resources Inc. grew its position in shares of W. P. Carey by 20.4% during the third quarter. Franklin Resources Inc. now owns 165,184 shares of the real estate investment trust's stock worth $9,898,000 after buying an additional 28,022 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust's stock worth $94,325,000 after buying an additional 264,230 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in W. P. Carey in the fourth quarter valued at $286,000. 73.73% of the stock is owned by hedge funds and other institutional investors.
W. P. Carey Stock Performance
WPC stock traded up $0.77 during mid-day trading on Tuesday, reaching $62.08. The company had a trading volume of 1,164,882 shares, compared to its average volume of 1,180,965. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The stock has a market capitalization of $13.59 billion, a P/E ratio of 29.70, a P/E/G ratio of 1.06 and a beta of 0.81. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock's 50-day simple moving average is $61.54 and its two-hundred day simple moving average is $58.10.
W. P. Carey Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.89 dividend. The ex-dividend date of this dividend was Monday, March 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a yield of 5.73%. W. P. Carey's dividend payout ratio (DPR) is currently 170.33%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. BMO Capital Markets raised shares of W. P. Carey from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Scotiabank boosted their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a report on Wednesday, March 12th. Evercore ISI increased their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Wells Fargo & Company boosted their price target on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, Royal Bank of Canada raised their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $63.75.
View Our Latest Stock Analysis on W. P. Carey
W. P. Carey Profile
(
Free Report)
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.
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