W. P. Carey Inc. (NYSE:WPC) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in W. P. Carey Inc. (NYSE:WPC) by 4.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 60,607 shares of the real estate investment trust’s stock after acquiring an additional 2,513 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in W. P. Carey were worth $3,302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WPC. Sumitomo Mitsui Trust Group Inc. increased its position in W. P. Carey by 3.0% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 670,027 shares of the real estate investment trust’s stock worth $36,503,000 after buying an additional 19,418 shares during the period. Consolidated Portfolio Review Corp acquired a new position in shares of W. P. Carey in the 4th quarter valued at $825,000. Silver Oak Securities Incorporated purchased a new stake in W. P. Carey in the 4th quarter valued at $233,000. Brown Lisle Cummings Inc. boosted its stake in W. P. Carey by 3.3% during the 4th quarter. Brown Lisle Cummings Inc. now owns 48,641 shares of the real estate investment trust’s stock worth $2,650,000 after purchasing an additional 1,535 shares during the period. Finally, Dupree Financial Group LLC grew its position in W. P. Carey by 2.0% during the 4th quarter. Dupree Financial Group LLC now owns 100,828 shares of the real estate investment trust’s stock worth $5,493,000 after purchasing an additional 1,933 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Stock Down 0.0 %

WPC opened at $56.08 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $64.26. The stock has a market capitalization of $12.27 billion, a P/E ratio of 22.08, a P/E/G ratio of 1.02 and a beta of 0.97. The business has a 50 day simple moving average of $55.29 and a 200-day simple moving average of $57.65.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 6.28%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is 138.58%.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of research reports. UBS Group reduced their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. Barclays dropped their target price on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. Finally, Scotiabank decreased their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued 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 $62.00.

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.