Allstate Corp purchased a new stake in W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 6,725 shares of the real estate investment trust's stock, valued at approximately $366,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. RFG Advisory LLC increased its stake in shares of 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 valued at $347,000 after buying an additional 3,049 shares during the period. Stifel Financial Corp increased its position in 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 period. FMR LLC raised its holdings in W. P. Carey by 103.3% during the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust's stock worth $50,219,000 after purchasing an additional 409,593 shares during the last quarter. Erste Asset Management GmbH acquired a new position in W. P. Carey during the 3rd quarter valued at about $1,267,000. Finally, Signet Financial Management LLC bought a new position in shares of W. P. Carey in the 4th quarter valued at about $1,942,000. Institutional investors and hedge funds own 73.73% of the company's stock.
Analyst Ratings Changes
WPC has been the subject of a number of recent research reports. Scotiabank boosted their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Wells Fargo & Company increased their price target on 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. Barclays lifted their price objective on W. P. Carey from $56.00 to $60.00 and gave the stock 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 research note on Thursday, February 13th. Finally, BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $63.75.
Check Out Our Latest Stock Report on WPC
W. P. Carey Stock Down 3.7 %
Shares of NYSE:WPC traded down $2.21 during trading on Monday, hitting $56.94. 1,753,270 shares of the company's stock traded hands, compared to its average volume of 1,180,817. 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 company has a 50-day moving average price of $60.66 and a 200-day moving average price of $58.29. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The company has a market cap of $12.47 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81.
W. P. Carey Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.89 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 6.25%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is presently 170.33%.
About W. P. Carey
(
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.
Featured Stories
Before you consider W. P. Carey, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and W. P. Carey wasn't on the list.
While W. P. Carey currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
