Van ECK Associates Corp Has $5.40 Million Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Van ECK Associates Corp raised its position in W. P. Carey Inc. (NYSE:WPC) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,091 shares of the real estate investment trust’s stock after acquiring an additional 358 shares during the period. Van ECK Associates Corp’s holdings in W. P. Carey were worth $5,399,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Creative Planning raised its holdings in shares of W. P. Carey by 0.3% in the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock valued at $4,031,000 after buying an additional 207 shares during the last quarter. Blue Trust Inc. raised its stake in shares of W. P. Carey by 64.8% in the third quarter. Blue Trust Inc. now owns 1,559 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 613 shares during the last quarter. Capital Investment Advisors LLC acquired a new position in shares of W. P. Carey during the third quarter worth approximately $204,000. Raymond James & Associates lifted its position in shares of W. P. Carey by 2.8% during the third quarter. Raymond James & Associates now owns 370,669 shares of the real estate investment trust’s stock worth $23,093,000 after purchasing an additional 10,152 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of W. P. Carey by 70.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 341 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

W. P. Carey stock opened at $60.26 on Wednesday. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of 23.72, a PEG ratio of 1.02 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $64.26. The stock’s 50 day moving average is $55.58 and its 200-day moving average is $57.60.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 5.84%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 168.42%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WPC. Barclays reduced their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Royal Bank of Canada boosted 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. UBS Group reduced 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 research note on Thursday, November 14th. Finally, BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $67.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.63.

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.