Sumitomo Mitsui DS Asset Management Company Ltd Buys 1,129 Shares of W. P. Carey Inc. (NYSE:WPC)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of W. P. Carey Inc. (NYSE:WPC) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,903 shares of the real estate investment trust’s stock after acquiring an additional 1,129 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in W. P. Carey were worth $3,623,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in WPC. Daiwa Securities Group Inc. raised its position in W. P. Carey by 130.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,516,956 shares of the real estate investment trust’s stock worth $136,117,000 after purchasing an additional 1,422,490 shares during the period. International Assets Investment Management LLC lifted its stake in shares of W. P. Carey by 6,411.6% during the 4th quarter. International Assets Investment Management LLC now owns 410,101 shares of the real estate investment trust’s stock worth $26,579,000 after acquiring an additional 403,803 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in W. P. Carey by 17.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,285,355 shares of the real estate investment trust’s stock valued at $123,592,000 after acquiring an additional 334,635 shares during the period. Allspring Global Investments Holdings LLC grew its position in W. P. Carey by 4,604.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 233,091 shares of the real estate investment trust’s stock valued at $12,606,000 after acquiring an additional 228,136 shares during the last quarter. Finally, Barclays PLC increased its stake in W. P. Carey by 78.5% in the third quarter. Barclays PLC now owns 502,141 shares of the real estate investment trust’s stock worth $27,157,000 after purchasing an additional 220,868 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.0 %

WPC opened at $56.22 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.89. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 17.04, a PEG ratio of 0.45 and a beta of 0.86. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $74.66. The stock has a fifty day moving average price of $56.05 and a 200-day moving average price of $58.80.

W. P. Carey (NYSE:WPC) last posted its earnings results on Friday, February 9th. The real estate investment trust reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. The company had revenue of $410.38 million for the quarter, compared to analyst estimates of $413.04 million. W. P. Carey had a return on equity of 7.78% and a net margin of 40.68%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.29 earnings per share. As a group, equities research analysts anticipate that W. P. Carey Inc. will post 4.57 earnings per share for the current fiscal year.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.865 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 dividend on an annualized basis and a yield of 6.15%. W. P. Carey’s dividend payout ratio is presently 104.85%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 20th. Royal Bank of Canada lowered their price objective on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. Raymond James downgraded shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. StockNews.com started coverage on shares of W. P. Carey in a research note on Thursday, January 4th. They set a “hold” rating for the company. Finally, Barclays started coverage on W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.36.

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.