W. P. Carey Inc. (NYSE:WPC) Shares Bought by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 730,278 shares of the real estate investment trust's stock after buying an additional 47,484 shares during the quarter. Ameriprise Financial Inc. owned about 0.33% of W. P. Carey worth $39,667,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in W. P. Carey during the fourth quarter worth approximately $139,381,000. Demars Financial Group LLC lifted its holdings in W. P. Carey by 10,001.1% in the fourth quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust's stock valued at $54,387,000 after acquiring an additional 988,409 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of W. P. Carey by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock worth $219,170,000 after buying an additional 906,622 shares during the last quarter. Northern Trust Corp raised its stake in shares of W. P. Carey by 40.3% during the 4th quarter. Northern Trust Corp now owns 2,641,229 shares of the real estate investment trust's stock worth $143,894,000 after buying an additional 758,627 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of W. P. Carey during the 4th quarter worth $31,442,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Price Performance

Shares of WPC opened at $61.79 on Monday. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a fifty day moving average price of $61.29 and a 200 day moving average price of $58.26. The company has a market cap of $13.53 billion, a P/E ratio of 29.56, a PEG ratio of 1.06 and a beta of 0.78.

W. P. Carey (NYSE:WPC - Get Free Report) last issued its earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share 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 during the quarter, compared to analyst estimates of $412.99 million. During the same period in the prior year, the business earned $1.14 earnings per share. W. P. Carey's quarterly revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast that W. P. Carey Inc. will post 4.87 earnings per share for the current year.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.76%. This is a positive change 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 (DPR) is 183.51%.

Wall Street Analyst Weigh In

A number of analysts recently commented on WPC shares. Barclays lifted their price objective on W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 4th. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Royal Bank of Canada upped their target price on W. P. Carey from $410.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company upped their target price on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $108.50.

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.

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