W. P. Carey Inc. (NYSE:WPC) Shares Acquired by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its stake in W. P. Carey Inc. (NYSE:WPC) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 762,912 shares of the real estate investment trust’s stock after buying an additional 12,601 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.35% of W. P. Carey worth $49,444,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in shares of W. P. Carey by 20.6% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 786 shares of the real estate investment trust’s stock valued at $63,000 after buying an additional 134 shares in the last quarter. Arbor Capital Management Inc. ADV boosted its stake in W. P. Carey by 1.5% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 9,465 shares of the real estate investment trust’s stock worth $706,000 after purchasing an additional 143 shares during the period. Lido Advisors LLC boosted its stake in W. P. Carey by 3.2% during the 1st quarter. Lido Advisors LLC now owns 5,292 shares of the real estate investment trust’s stock worth $410,000 after purchasing an additional 166 shares during the period. Raleigh Capital Management Inc. boosted its stake in W. P. Carey by 3.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 191 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its stake in W. P. Carey by 4.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 4,616 shares of the real estate investment trust’s stock worth $361,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC opened at $56.22 on Friday. The company has a 50-day simple moving average of $56.06 and a 200-day simple moving average of $58.68. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.89. The company has a market capitalization of $12.30 billion, a PE ratio of 17.03, a P/E/G ratio of 0.42 and a beta of 0.86. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $74.66.

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

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.865 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. This represents a $3.46 annualized dividend and a yield of 6.15%. The ex-dividend date was Wednesday, March 27th. W. P. Carey’s dividend payout ratio (DPR) is 104.85%.

Analyst Ratings Changes

WPC has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of W. P. Carey in a research note on Thursday, January 4th. They set a “hold” rating for the company. Royal Bank of Canada decreased their price target on shares of W. P. Carey from $68.00 to $65.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. Scotiabank decreased their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “sector perform” rating for the company in a research note on Monday, March 4th. Raymond James cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Finally, Barclays initiated coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and an average target price of $63.36.

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.