Elo Mutual Pension Insurance Co Acquires 707 Shares of W. P. Carey Inc. (NYSE:WPC)

Elo Mutual Pension Insurance Co lifted its stake in W. P. Carey Inc. (NYSE:WPC) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,144 shares of the real estate investment trust’s stock after purchasing an additional 707 shares during the period. Elo Mutual Pension Insurance Co’s holdings in W. P. Carey were worth $1,097,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WPC. National Pension Service bought a new position in W. P. Carey during the fourth quarter worth about $25,000. Millstone Evans Group LLC acquired a new stake in shares of W. P. Carey in the 4th quarter valued at approximately $37,000. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey during the 4th quarter worth approximately $37,000. Plato Investment Management Ltd acquired a new position in W. P. Carey during the fourth quarter valued at approximately $48,000. Finally, Roxbury Financial LLC bought a new stake in W. P. Carey in the fourth quarter valued at approximately $58,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on WPC shares. Royal Bank of Canada boosted their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Scotiabank boosted their target price on 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. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Wells Fargo & Company boosted their price objective on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. Finally, Evercore ISI raised their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the stock 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.com, the stock presently has an average rating of “Hold” and an average target price of $63.75.

W. P. Carey Stock Up 0.4 %

Shares of W. P. Carey stock opened at $62.67 on Monday. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. 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 business’s 50 day simple moving average is $60.04 and its 200 day simple moving average is $58.38. The firm has a market cap of $13.71 billion, a PE ratio of 29.98, a P/E/G ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.68%. 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 payout ratio is currently 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.