W. P. Carey Inc. (NYSE:WPC) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. grew its stake in W. P. Carey Inc. (NYSE:WPC) by 11.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,494 shares of the real estate investment trust’s stock after buying an additional 2,801 shares during the period. Federated Hermes Inc.’s holdings in W. P. Carey were worth $1,498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. RFG Advisory LLC raised its stake in W. P. Carey by 91.7% in the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 3,049 shares during the last quarter. Stifel Financial Corp raised its stake in shares of W. P. Carey by 7.0% in the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after purchasing an additional 2,075 shares during the last quarter. Sei Investments Co. raised its stake in shares of W. P. Carey by 17.1% in the fourth quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust’s stock worth $3,056,000 after purchasing an additional 8,197 shares during the last quarter. Signet Financial Management LLC acquired a new stake in shares of W. P. Carey during the fourth quarter worth about $1,942,000. Finally, Diversified Trust Co purchased a new stake in W. P. Carey in the fourth quarter valued at approximately $534,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on WPC shares. Wells Fargo & Company lifted their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Barclays lifted their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, Royal Bank of Canada raised their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $63.75.

W. P. Carey Stock Up 3.4 %

Shares of WPC opened at $59.83 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a market cap of $13.10 billion, a P/E ratio of 28.63, a PEG ratio of 1.06 and a beta of 0.81. The stock’s 50 day moving average is $60.96 and its two-hundred day moving average is $58.06. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.89 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a yield of 5.95%. W. P. Carey’s dividend payout ratio is currently 170.33%.

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.