Vestcor Inc Boosts Holdings in W. P. Carey Inc. (NYSE:WPC)

Vestcor Inc boosted its position in shares of W. P. Carey Inc. (NYSE:WPC) by 120.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 69,640 shares of the real estate investment trust’s stock after acquiring an additional 38,043 shares during the period. Vestcor Inc’s holdings in W. P. Carey were worth $3,794,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. National Pension Service purchased a new stake in W. P. Carey during the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of W. P. Carey in the fourth quarter worth $37,000. RPg Family Wealth Advisory LLC purchased a new position in shares of W. P. Carey in the third quarter worth $44,000. Plato Investment Management Ltd purchased a new position in shares of W. P. Carey in the fourth quarter worth $48,000. Finally, Roxbury Financial LLC purchased a new position in shares of W. P. Carey in the fourth quarter worth $58,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

WPC has been the subject of a number of research analyst reports. Evercore ISI raised their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Wells Fargo & Company raised their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Finally, Royal Bank of Canada increased their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $63.75.

W. P. Carey Stock Down 0.5 %

WPC stock opened at $61.60 on Friday. The firm has a market cap of $13.48 billion, a PE ratio of 29.47, a P/E/G ratio of 1.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The firm’s fifty day moving average is $58.27 and its 200 day moving average is $58.28. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10.

W. P. Carey Increases Dividend

The company 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 annualized dividend and a yield of 5.78%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is currently 168.42%.

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.