Mediolanum International Funds Ltd Boosts Position in W. P. Carey Inc. (NYSE:WPC)

Mediolanum International Funds Ltd boosted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,478 shares of the real estate investment trust’s stock after buying an additional 768 shares during the quarter. Mediolanum International Funds Ltd’s holdings in W. P. Carey were worth $1,006,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Quarry LP raised its position in W. P. Carey by 175.9% during the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 357 shares during the last quarter. Maia Wealth LLC purchased a new position in W. P. Carey during the 3rd quarter worth approximately $40,000. Massmutual Trust Co. FSB ADV increased its holdings in shares of W. P. Carey by 35.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 172 shares in the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings in shares of W. P. Carey by 962.5% during the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 616 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

W. P. Carey stock opened at $55.96 on Monday. The company’s fifty day moving average price is $55.44 and its 200 day moving average price is $57.77. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $64.26. The stock has a market capitalization of $12.25 billion, a P/E ratio of 22.03, a P/E/G ratio of 0.99 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 6.29%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 138.58%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WPC shares. Barclays reaffirmed an “underweight” rating and set a $59.00 target price (up from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. Scotiabank cut their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. UBS Group cut their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $62.43.

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.