Northern Trust Corp Has $143.89 Million Holdings in W. P. Carey Inc. (NYSE:WPC)

Northern Trust Corp raised its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 40.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,641,229 shares of the real estate investment trust’s stock after purchasing an additional 758,627 shares during the period. Northern Trust Corp’s holdings in W. P. Carey were worth $143,894,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in W. P. Carey during the third quarter worth $262,000. Franklin Resources Inc. grew its stake in shares of W. P. Carey by 20.4% in the 3rd quarter. Franklin Resources Inc. now owns 165,184 shares of the real estate investment trust’s stock worth $9,898,000 after acquiring an additional 28,022 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of W. P. Carey by 21.1% in the third 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 last quarter. Everence Capital Management Inc. purchased a new position in W. P. Carey during the fourth quarter worth about $286,000. Finally, Nordea Investment Management AB grew its position in W. P. Carey by 10.8% in the 4th quarter. Nordea Investment Management AB now owns 16,335 shares of the real estate investment trust’s stock worth $888,000 after purchasing an additional 1,587 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WPC has been the topic of several recent analyst reports. Wells Fargo & Company lifted their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Barclays raised their target price on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. Evercore ISI boosted 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. Finally, Royal Bank of Canada raised their price objective on shares of W. P. Carey from $410.00 to $420.00 and gave the stock an “outperform” rating in a report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $108.50.

W. P. Carey Trading Down 0.4 %

Shares of WPC opened at $61.66 on Friday. The firm has a market cap of $13.50 billion, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. 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 business has a 50-day moving average of $61.59 and a 200 day moving average of $58.20.

W. P. Carey (NYSE:WPC) last posted its quarterly earnings results on Tuesday, April 29th. The real estate investment trust reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.03). The business had revenue of $407.44 million during the quarter, compared to the consensus estimate of $412.99 million. W. P. Carey had a net margin of 29.11% and a return on equity of 5.37%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm earned $1.14 EPS. As a group, research analysts forecast that W. P. Carey Inc. will post 4.87 EPS for the current year.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.89 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date of this dividend was Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 183.51%.

W. P. Carey 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.