Brown Brothers Harriman & Co. Has $162,000 Holdings in W. P. Carey Inc. (NYSE:WPC)

Brown Brothers Harriman & Co. increased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 146.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,971 shares of the real estate investment trust’s stock after acquiring an additional 1,765 shares during the period. Brown Brothers Harriman & Co.’s holdings in W. P. Carey were worth $162,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in WPC. The Manufacturers Life Insurance Company raised its position in shares of W. P. Carey by 12.6% in the third quarter. The Manufacturers Life Insurance Company now owns 192,869 shares of the real estate investment trust’s stock valued at $12,016,000 after purchasing an additional 21,563 shares during the period. FMR LLC raised its holdings in 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 acquiring an additional 409,593 shares during the period. Townsquare Capital LLC lifted its position in W. P. Carey by 5.2% during the 3rd quarter. Townsquare Capital LLC now owns 11,099 shares of the real estate investment trust’s stock worth $691,000 after acquiring an additional 550 shares during the last quarter. CreativeOne Wealth LLC boosted its holdings in W. P. Carey by 14.1% during the third quarter. CreativeOne Wealth LLC now owns 4,236 shares of the real estate investment trust’s stock valued at $264,000 after acquiring an additional 523 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of W. P. Carey by 14.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,288 shares of the real estate investment trust’s stock valued at $5,812,000 after purchasing an additional 11,490 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Performance

NYSE:WPC opened at $63.12 on Tuesday. The firm has a market capitalization of $13.81 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The firm has a 50-day moving average price of $60.18 and a 200 day moving average price of $58.39.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 5.64%. 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. W. P. Carey’s dividend payout ratio (DPR) is 170.33%.

Analyst Ratings Changes

Several research firms recently weighed in on WPC. Royal Bank of Canada boosted their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Barclays increased their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Evercore ISI increased their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company boosted their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.75.

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.