Meiji Yasuda Asset Management Co Ltd. Sells 345 Shares of W. P. Carey Inc. (NYSE:WPC)

Meiji Yasuda Asset Management Co Ltd. reduced its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 3.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,360 shares of the real estate investment trust’s stock after selling 345 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in W. P. Carey were worth $564,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. National Pension Service bought a new stake in W. P. Carey in the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. bought a new stake in shares of W. P. Carey in the 4th quarter valued at $37,000. Millstone Evans Group LLC acquired a new stake in W. P. Carey during the 4th quarter worth $37,000. RPg Family Wealth Advisory LLC bought a new position in W. P. Carey during the third quarter worth about $44,000. Finally, Plato Investment Management Ltd acquired a new position in W. P. Carey in the fourth quarter valued at about $48,000. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Down 0.7 %

Shares of WPC stock opened at $62.44 on Friday. The firm has a market capitalization of $13.66 billion, a P/E ratio of 29.87, a PEG ratio of 1.06 and a beta of 0.95. The firm’s fifty day moving average price is $59.90 and its two-hundred day moving average price is $58.43. 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.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 5.70%. The ex-dividend date is Monday, March 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is presently 170.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. 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 report on Tuesday, March 4th. Wells Fargo & Company lifted 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. Scotiabank increased their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Royal Bank of Canada boosted their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.75.

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.