119,800 Shares in W. P. Carey Inc. (NYSE:WPC) Acquired by APG Asset Management N.V.

APG Asset Management N.V. acquired a new position in shares of W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 119,800 shares of the real estate investment trust’s stock, valued at approximately $6,303,000.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of W. P. Carey during the 4th quarter worth $139,381,000. Massachusetts Financial Services Co. MA increased its holdings in W. P. Carey by 29.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock valued at $219,170,000 after acquiring an additional 906,622 shares in the last quarter. Raymond James Financial Inc. acquired a new position in W. P. Carey during the fourth quarter worth about $31,442,000. Equity Investment Corp lifted its holdings in shares of W. P. Carey by 26.3% in the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock valued at $101,918,000 after purchasing an additional 389,107 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock valued at $94,325,000 after purchasing an additional 264,230 shares during the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Stock Performance

NYSE WPC opened at $57.87 on Friday. The business’s 50-day moving average price is $60.88 and its 200 day moving average price is $58.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a market capitalization of $12.67 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81.

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 issued a dividend of $0.89 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 6.15%. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s dividend payout ratio is presently 170.33%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Royal Bank of Canada boosted their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Wells Fargo & Company increased their price objective on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, Scotiabank upped their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. 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 company’s stock. According to data from MarketBeat, W. P. Carey currently has an average rating of “Hold” and a consensus price target 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.