Elo Mutual Pension Insurance Co Has $1.10 Million Stock Position in W. P. Carey Inc. (NYSE:WPC)

Elo Mutual Pension Insurance Co lifted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,144 shares of the real estate investment trust’s stock after purchasing an additional 707 shares during the period. Elo Mutual Pension Insurance Co’s holdings in W. P. Carey were worth $1,097,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in W. P. Carey by 660.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock worth $127,969,000 after acquiring an additional 1,784,131 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of W. P. Carey in the 4th quarter valued at about $31,442,000. FMR LLC raised its holdings in shares of W. P. Carey by 103.3% in the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after purchasing an additional 409,593 shares during the period. Equity Investment Corp lifted its stake in W. P. Carey by 26.3% in the 4th quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock valued at $101,918,000 after purchasing an additional 389,107 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in W. P. Carey by 21.1% during 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 purchasing an additional 264,230 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $62.67 on Monday. 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 has a market capitalization of $13.71 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a 50-day simple moving average of $60.04 and a two-hundred day simple moving average of $58.38.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.89 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.68%. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s payout ratio is 170.33%.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective 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. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Barclays upped their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Royal Bank of Canada raised their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, Wells Fargo & Company upped their price target 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 assigned a buy rating to the company’s stock. According to MarketBeat, W. P. Carey has an average rating of “Hold” and a consensus price target of $63.75.

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.