AIA Group Ltd Has $245,000 Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

AIA Group Ltd trimmed its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 5.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,492 shares of the real estate investment trust’s stock after selling 281 shares during the quarter. AIA Group Ltd’s holdings in W. P. Carey were worth $245,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in W. P. Carey by 26.2% during the fourth quarter. Wellington Management Group LLP now owns 319,738 shares of the real estate investment trust’s stock worth $17,419,000 after purchasing an additional 66,319 shares during the period. Everstar Asset Management LLC raised its position in shares of W. P. Carey by 8.9% in the 4th quarter. Everstar Asset Management LLC now owns 7,096 shares of the real estate investment trust’s stock valued at $387,000 after buying an additional 579 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of W. P. Carey by 32.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,035 shares of the real estate investment trust’s stock worth $166,000 after acquiring an additional 735 shares during the period. C2C Wealth Management LLC boosted its position in shares of W. P. Carey by 4.3% during the 4th quarter. C2C Wealth Management LLC now owns 12,263 shares of the real estate investment trust’s stock worth $668,000 after acquiring an additional 500 shares in the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of W. P. Carey by 69.2% during the 4th quarter. Schroder Investment Management Group now owns 282,368 shares of the real estate investment trust’s stock worth $15,169,000 after acquiring an additional 115,522 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Price Performance

W. P. Carey stock opened at $63.01 on Wednesday. The company has a market capitalization of $13.79 billion, a PE ratio of 30.15, a P/E/G ratio of 1.06 and a beta of 0.95. 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 stock has a 50-day moving average price of $60.31 and a two-hundred day moving average price of $58.39. 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 firm also recently announced 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. The ex-dividend date is Monday, March 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a yield of 5.65%. W. P. Carey’s dividend payout ratio (DPR) is currently 170.33%.

Analyst Ratings Changes

WPC has been the subject of several recent analyst reports. Royal Bank of Canada upped their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Wells Fargo & Company boosted their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Evercore ISI boosted their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.75.

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.