AIA Group Ltd Has $245,000 Stock Position in W. P. Carey Inc. (NYSE:WPC)

AIA Group Ltd lessened its stake in W. P. Carey Inc. (NYSE:WPC) by 5.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,492 shares of the real estate investment trust’s stock after selling 281 shares during the quarter. AIA Group Ltd’s holdings in W. P. Carey were worth $245,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in WPC. The Manufacturers Life Insurance Company increased its holdings in W. P. Carey by 12.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 192,869 shares of the real estate investment trust’s stock worth $12,016,000 after purchasing an additional 21,563 shares in the last quarter. FMR LLC boosted its position in shares of W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after buying an additional 409,593 shares during the period. Townsquare Capital LLC grew its holdings in shares of W. P. Carey by 5.2% during the third quarter. Townsquare Capital LLC now owns 11,099 shares of the real estate investment trust’s stock worth $691,000 after buying an additional 550 shares in the last quarter. CreativeOne Wealth LLC raised its position in W. P. Carey by 14.1% in the 3rd quarter. CreativeOne Wealth LLC now owns 4,236 shares of the real estate investment trust’s stock valued at $264,000 after buying an additional 523 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in W. P. Carey by 14.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 93,288 shares of the real estate investment trust’s stock valued at $5,812,000 after acquiring an additional 11,490 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Down 0.2 %

WPC stock opened at $63.01 on Wednesday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization 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 business’s fifty day moving average price is $60.31 and its two-hundred day moving average price is $58.39.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 5.65%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is currently 170.33%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WPC shares. Barclays lifted their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Evercore ISI raised their price target on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Royal Bank of Canada lifted their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, Scotiabank upped their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price 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.