W. P. Carey Inc. (NYSE:WPC) Shares Purchased by Korea Investment CORP

Korea Investment CORP grew its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,523 shares of the real estate investment trust’s stock after purchasing an additional 1,200 shares during the quarter. Korea Investment CORP’s holdings in W. P. Carey were worth $3,570,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of WPC. National Pension Service acquired a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of W. P. Carey in the 4th quarter worth $37,000. Millstone Evans Group LLC purchased a new position in shares of W. P. Carey during the 4th quarter worth $37,000. Plato Investment Management Ltd purchased a new position in shares of W. P. Carey during the 4th quarter worth $48,000. Finally, Roxbury Financial LLC acquired a new position in shares of W. P. Carey during the 4th quarter valued at about $58,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

WPC opened at $63.01 on Wednesday. The stock’s 50-day moving average price is $60.31 and its 200 day moving average price is $58.39. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The firm has a market cap of $13.79 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.06 and a beta of 0.95. 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 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 given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is currently 170.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WPC shares. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. 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 report on Monday, March 10th. Barclays increased their price objective 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. Evercore ISI lifted their target price 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. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $63.75.

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.