Prudential PLC Has $879,000 Holdings in W. P. Carey Inc. (NYSE:WPC)

Prudential PLC increased its position in W. P. Carey Inc. (NYSE:WPCFree Report) by 46.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,558 shares of the real estate investment trust’s stock after purchasing an additional 4,329 shares during the period. Prudential PLC’s holdings in W. P. Carey were worth $879,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WPC. First United Bank & Trust purchased a new position in shares of W. P. Carey during the fourth quarter valued at $27,000. Central Bank & Trust Co. acquired a new position in shares of W. P. Carey in the 4th quarter valued at about $28,000. FNY Investment Advisers LLC purchased a new stake in shares of W. P. Carey in the fourth quarter worth approximately $32,000. EdgeRock Capital LLC purchased a new stake in shares of W. P. Carey in the fourth quarter worth approximately $32,000. Finally, Tidemark LLC purchased a new position in W. P. Carey during the fourth quarter valued at approximately $42,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Trading Down 0.3 %

NYSE:WPC opened at $56.04 on Tuesday. The company’s 50 day moving average is $56.60 and its 200-day moving average is $59.45. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $73.38. The firm has a market cap of $12.26 billion, a price-to-earnings ratio of 21.31, a P/E/G ratio of 1.05 and a beta of 0.91.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.865 dividend. This represents a $3.46 annualized dividend and a yield of 6.17%. The ex-dividend date was Wednesday, March 27th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s dividend payout ratio (DPR) is 131.56%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WPC. Royal Bank of Canada cut their target price on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Scotiabank increased their price objective on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Wells Fargo & Company lowered their target price on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Raymond James downgraded W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Finally, UBS Group assumed coverage on W. P. Carey in a research note on Friday, May 31st. They issued a “neutral” rating and a $57.00 price target for the company. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Hold” and an average price target of $62.58.

Check Out Our Latest Stock Report on WPC

W. P. Carey Profile

(Free Report)

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.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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