Xponance Inc. Increases Stake in W. P. Carey Inc. (NYSE:WPC)

Xponance Inc. increased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 8.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,709 shares of the real estate investment trust’s stock after buying an additional 3,077 shares during the period. Xponance Inc.’s holdings in W. P. Carey were worth $2,054,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in WPC. CIBC Asset Management Inc increased its stake in shares of W. P. Carey by 5.4% during the third quarter. CIBC Asset Management Inc now owns 7,748 shares of the real estate investment trust’s stock valued at $483,000 after buying an additional 395 shares during the period. Empowered Funds LLC purchased a new position in shares of W. P. Carey during the third quarter valued at $218,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of W. P. Carey during the third quarter valued at $640,000. Charles Schwab Investment Management Inc. increased its stake in shares of W. P. Carey by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after buying an additional 103,147 shares during the period. Finally, Penserra Capital Management LLC increased its stake in shares of W. P. Carey by 21.0% during the third quarter. Penserra Capital Management LLC now owns 22,404 shares of the real estate investment trust’s stock valued at $1,394,000 after buying an additional 3,884 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $61.62 on Friday. 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 company has a market cap of $13.48 billion, a PE ratio of 29.48, a P/E/G ratio of 1.06 and a beta of 0.95. The business has a 50-day simple moving average of $59.29 and a two-hundred day simple moving average of $58.39. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 5.78%. 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. W. P. Carey’s dividend payout ratio (DPR) is currently 170.33%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Evercore ISI raised their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Barclays raised their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. Royal Bank of Canada raised their price objective on 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, Scotiabank raised their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.75.

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.