Bank of New York Mellon Corp Cuts Holdings in W. P. Carey Inc. (NYSE:WPC)

Bank of New York Mellon Corp lowered its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,237,905 shares of the real estate investment trust’s stock after selling 10,351 shares during the quarter. Bank of New York Mellon Corp owned 1.02% of W. P. Carey worth $121,921,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in W. P. Carey by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after purchasing an additional 127,477 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of W. P. Carey by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock worth $161,894,000 after acquiring an additional 103,147 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of W. P. Carey by 660.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock worth $127,969,000 after buying an additional 1,784,131 shares during the period. JPMorgan Chase & Co. increased its holdings in W. P. Carey by 21.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock valued at $94,325,000 after purchasing an additional 264,230 shares during the period. Finally, Equity Investment Corp raised its holdings in W. P. Carey by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after purchasing an additional 9,610 shares in the last quarter. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WPC. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Evercore ISI upped their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Scotiabank lowered their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Barclays reduced their price target on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada raised their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $62.38.

W. P. Carey Trading Up 0.0 %

W. P. Carey stock opened at $64.22 on Friday. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $64.68. The business’s fifty day moving average is $56.77 and its 200 day moving average is $57.95. 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 $14.05 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.48%. W. P. Carey’s payout ratio is currently 168.42%.

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.