W. P. Carey Inc. (NYSE:WPC) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 355,333 shares of the real estate investment trust’s stock after buying an additional 12,560 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.16% of W. P. Carey worth $19,359,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WPC. Norges Bank acquired a new position in shares of W. P. Carey in the 4th quarter worth $139,381,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of W. P. Carey by 660.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after purchasing an additional 1,784,131 shares during the period. Raymond James Financial Inc. acquired a new position in shares of W. P. Carey in the 4th quarter valued at $31,442,000. FMR LLC increased its stake 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 purchasing an additional 409,593 shares in the last quarter. Finally, Equity Investment Corp raised its holdings in W. P. Carey by 26.3% during the 4th quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock worth $101,918,000 after buying an additional 389,107 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WPC. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Barclays raised their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. Scotiabank boosted 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 research note on Wednesday, March 12th. Wells Fargo & Company raised their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Finally, Evercore ISI lifted their price target on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $63.75.

W. P. Carey Trading Up 0.4 %

NYSE WPC opened at $62.67 on Friday. 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 1-year low of $52.91 and a 1-year high of $66.10. The firm’s fifty day simple moving average is $60.04 and its 200-day simple moving average is $58.41. The company has a market capitalization of $13.71 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.89 per share. 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. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.68%. W. P. Carey’s dividend payout ratio (DPR) is 170.33%.

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.