Plato Investment Management Ltd Acquires Shares of 877 W. P. Carey Inc. (NYSE:WPC)

Plato Investment Management Ltd acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, Holdings Channel.com reports. The fund acquired 877 shares of the real estate investment trust’s stock, valued at approximately $48,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of WPC. RFG Advisory LLC raised its position in shares of W. P. Carey by 91.7% during the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 3,049 shares during the period. Equity Investment Corp lifted its holdings in shares of W. P. Carey by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after purchasing an additional 9,610 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of W. P. Carey by 7.0% in the 3rd quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after purchasing an additional 2,075 shares during the last quarter. FMR LLC lifted 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 worth $50,219,000 after purchasing an additional 409,593 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in shares of W. P. Carey in the 3rd quarter worth approximately $1,267,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Up 0.9 %

Shares of W. P. Carey stock opened at $65.02 on Thursday. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $65.45. 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 business’s fifty day moving average price is $57.16 and its two-hundred day moving average price is $58.06. The company has a market capitalization of $14.23 billion, a P/E ratio of 31.11, a PEG ratio of 1.06 and a beta of 0.97.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date was Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 168.42%.

Wall Street Analyst Weigh In

WPC has been the topic of several recent research reports. Scotiabank cut their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Barclays raised their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Royal Bank of Canada lifted their target price on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Evercore ISI lifted their target price on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and an average target price of $62.88.

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.