Victory Capital Management Inc. Boosts Stock Position in W. P. Carey Inc. (NYSE:WPC)

Victory Capital Management Inc. increased its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 19.8% in the fourth quarter, HoldingsChannel reports. The firm owned 663,317 shares of the real estate investment trust’s stock after buying an additional 109,438 shares during the quarter. Victory Capital Management Inc.’s holdings in W. P. Carey were worth $36,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 worth $127,969,000 after buying an additional 1,784,131 shares during the last quarter. FMR LLC boosted 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 buying an additional 409,593 shares during the last quarter. Equity Investment Corp boosted its stake in W. P. Carey by 26.3% in 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 last quarter. JPMorgan Chase & Co. boosted its stake in W. P. Carey by 21.1% in 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 buying an additional 264,230 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in W. P. Carey by 138.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 306,304 shares of the real estate investment trust’s stock worth $19,083,000 after buying an additional 177,617 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on WPC. Barclays raised their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. UBS Group decreased their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Evercore ISI lifted their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Stock Performance

W. P. Carey stock opened at $64.74 on Monday. The stock’s 50 day moving average price is $57.75 and its 200 day moving average price is $58.19. The firm has a market capitalization of $14.17 billion, a PE ratio of 30.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. 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 Inc. has a one year low of $52.91 and a one year high of $65.45.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 5.44%. W. P. Carey’s payout ratio is 168.42%.

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.