Ontario Teachers Pension Plan Board Grows Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Ontario Teachers Pension Plan Board increased its stake in W. P. Carey Inc. (NYSE:WPC) by 188.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 56,396 shares of the real estate investment trust’s stock after buying an additional 36,824 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in W. P. Carey were worth $3,072,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. National Pension Service purchased a new stake in W. P. Carey in the fourth quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new position in shares of W. P. Carey during the fourth quarter valued at approximately $37,000. Millstone Evans Group LLC purchased a new position in shares of W. P. Carey in the 4th quarter valued at $37,000. Bessemer Group Inc. grew its stake in W. P. Carey by 118.6% in the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 402 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new position in shares of W. P. Carey during the 4th quarter worth approximately $48,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $59.83 on Tuesday. 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 market capitalization of $13.10 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. The business has a 50-day moving average of $60.96 and a 200 day moving average of $58.06. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.95%. W. P. Carey’s payout ratio is currently 170.33%.

Analysts Set New Price Targets

WPC has been the subject of a number of research analyst reports. Scotiabank increased their price target on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price target for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Wells Fargo & Company raised their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Finally, Royal Bank of Canada increased their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. One research 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. According to data from MarketBeat, the company currently 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.