Plato Investment Management Ltd Buys New Shares in W. P. Carey Inc. (NYSE:WPC)

Plato Investment Management Ltd bought a new stake in W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 877 shares of the real estate investment trust’s stock, valued at approximately $48,000.

Other institutional investors have also recently added to or reduced their stakes in the company. National Pension Service acquired a new stake in W. P. Carey during the fourth quarter worth about $25,000. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey during the fourth quarter worth about $37,000. Maia Wealth LLC acquired a new stake in W. P. Carey during the third quarter worth about $40,000. RPg Family Wealth Advisory LLC acquired a new stake in W. P. Carey during the third quarter worth about $44,000. Finally, Roxbury Financial LLC acquired a new stake in W. P. Carey during the fourth quarter worth about $58,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WPC shares. Royal Bank of Canada upped their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. UBS Group decreased their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Evercore ISI upped their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Scotiabank decreased their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Finally, BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. One 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, W. P. Carey has a consensus rating of “Hold” and an average target price of $62.88.

W. P. Carey Trading Up 0.9 %

Shares of WPC opened at $65.02 on Thursday. The company has a market capitalization of $14.23 billion, a P/E ratio of 31.11, a P/E/G ratio of 1.06 and a beta of 0.97. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $65.45. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50-day moving average price of $57.16 and a 200 day moving average price of $58.06.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 5.41%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is currently 168.42%.

W. P. Carey Company 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.