Van ECK Associates Corp Buys 10,290 Shares of W. P. Carey Inc. (NYSE:WPC)

Van ECK Associates Corp boosted its position in W. P. Carey Inc. (NYSE:WPC) by 12.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,076 shares of the real estate investment trust’s stock after buying an additional 10,290 shares during the quarter. Van ECK Associates Corp’s holdings in W. P. Carey were worth $5,140,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of WPC. Cohen & Steers Inc. raised its position in W. P. Carey by 91.9% in the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock valued at $731,800,000 after buying an additional 5,407,289 shares during the last quarter. Norges Bank acquired a new stake in W. P. Carey in the 4th quarter valued at approximately $157,107,000. Daiwa Securities Group Inc. raised its position in W. P. Carey by 44.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock valued at $235,971,000 after buying an additional 1,124,010 shares during the last quarter. Principal Financial Group Inc. raised its position in W. P. Carey by 4,716.5% in the 4th quarter. Principal Financial Group Inc. now owns 802,426 shares of the real estate investment trust’s stock valued at $52,005,000 after buying an additional 785,766 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in W. P. Carey by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock valued at $1,995,114,000 after buying an additional 657,188 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barclays assumed coverage on W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target for the company. Wells Fargo & Company decreased their price target on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. Royal Bank of Canada decreased their price target on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Scotiabank raised their price target on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.70.

W. P. Carey Stock Performance

WPC traded up $0.06 during trading on Friday, hitting $54.95. The stock had a trading volume of 529,921 shares, compared to its average volume of 1,317,869. The company has a 50 day moving average price of $56.58 and a 200-day moving average price of $58.53. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 1.02 and a beta of 0.93. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $73.38. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Friday, June 28th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a yield of 6.33%. W. P. Carey’s payout ratio is 132.32%.

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.