CANADA LIFE ASSURANCE Co Has $24.77 Million Holdings in W. P. Carey Inc. (NYSE:WPC)

CANADA LIFE ASSURANCE Co raised its position in W. P. Carey Inc. (NYSE:WPC) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 454,720 shares of the real estate investment trust’s stock after buying an additional 14,505 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.21% of W. P. Carey worth $24,766,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. RFG Advisory LLC lifted its stake in W. P. Carey by 91.7% during the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock worth $347,000 after purchasing an additional 3,049 shares during the last quarter. Sei Investments Co. grew its position in W. P. Carey by 17.1% in the fourth quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust’s stock valued at $3,056,000 after acquiring an additional 8,197 shares during the last quarter. Signet Financial Management LLC bought a new position in shares of W. P. Carey in the fourth quarter worth about $1,942,000. Diversified Trust Co acquired a new stake in shares of W. P. Carey in the 4th quarter valued at approximately $534,000. Finally, JPMorgan Chase & Co. increased its position in W. P. Carey by 21.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock worth $94,325,000 after purchasing an additional 264,230 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

WPC has been the subject of several research analyst reports. Royal Bank of Canada upped 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. Evercore ISI boosted their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Barclays raised their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Wells Fargo & Company raised their price target on shares of 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $63.75.

W. P. Carey Trading Up 1.5 %

Shares of WPC stock opened at $62.18 on Friday. The company has a market cap of $13.62 billion, a P/E ratio of 29.75, a PEG ratio of 1.06 and a beta of 0.81. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The stock has a 50 day simple moving average of $61.40 and a two-hundred day simple moving average of $58.09. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.73%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 170.33%.

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.