AGF Management Ltd. Lowers Stake in W. P. Carey Inc. (NYSE:WPC)

AGF Management Ltd. reduced its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 12.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,204 shares of the real estate investment trust's stock after selling 6,616 shares during the period. AGF Management Ltd.'s holdings in W. P. Carey were worth $2,463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WPC. National Pension Service purchased a new stake in W. P. Carey during the 4th quarter worth about $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of W. P. Carey during the fourth quarter worth about $37,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of W. P. Carey during the third quarter worth approximately $44,000. Plato Investment Management Ltd acquired a new stake in W. P. Carey in the fourth quarter valued at approximately $48,000. Finally, Roxbury Financial LLC purchased a new position in W. P. Carey in the fourth quarter worth approximately $58,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Stock Performance

Shares of W. P. Carey stock traded down $0.07 on Monday, hitting $62.59. The stock had a trading volume of 1,723,459 shares, compared to its average volume of 1,210,227. The stock has a market cap of $13.70 billion, a price-to-earnings ratio of 29.95, 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. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The company's 50 day moving average price is $58.57 and its 200 day moving average price is $58.30.

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W. P. Carey Increases Dividend

The company also recently disclosed 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 5.69%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is currently 170.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WPC shares. Scotiabank increased their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. Barclays increased their target price on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a report on Tuesday, March 4th. Wells Fargo & Company lifted 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. Evercore ISI increased their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a report 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 research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $63.75.

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.