Barclays PLC Raises Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Barclays PLC raised its position in shares of W. P. Carey Inc. (NYSE:WPC) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 387,839 shares of the real estate investment trust’s stock after purchasing an additional 33,931 shares during the quarter. Barclays PLC’s holdings in W. P. Carey were worth $21,127,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. TT Capital Management LLC purchased a new stake in W. P. Carey in the fourth quarter valued at approximately $3,110,000. Seeds Investor LLC boosted its holdings in shares of W. P. Carey by 9.4% in the 4th quarter. Seeds Investor LLC now owns 5,248 shares of the real estate investment trust’s stock valued at $286,000 after acquiring an additional 450 shares during the last quarter. Townsquare Capital LLC increased its stake in shares of W. P. Carey by 20.9% in the fourth quarter. Townsquare Capital LLC now owns 13,422 shares of the real estate investment trust’s stock worth $731,000 after acquiring an additional 2,323 shares during the period. Sterling Capital Management LLC raised its holdings in shares of W. P. Carey by 52.9% during the fourth quarter. Sterling Capital Management LLC now owns 12,843 shares of the real estate investment trust’s stock worth $700,000 after purchasing an additional 4,442 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its position in W. P. Carey by 1.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 148,605 shares of the real estate investment trust’s stock valued at $8,096,000 after purchasing an additional 2,385 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Up 1.5 %

WPC stock opened at $62.18 on Friday. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a 50-day simple moving average of $61.40 and a 200-day simple moving average of $58.09. The stock has a market capitalization of $13.62 billion, a P/E ratio of 29.75, a P/E/G ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.73%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is presently 170.33%.

Analysts Set New Price Targets

Several brokerages have weighed in on WPC. Wells Fargo & Company increased their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Scotiabank lifted their price target 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. Royal Bank of Canada upped their price objective 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. Evercore ISI lifted their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, Barclays increased their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. 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 MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.