Bahl & Gaynor Inc. lowered its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 16.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 20,709 shares of the real estate investment trust's stock after selling 4,159 shares during the period. Bahl & Gaynor Inc.'s holdings in W. P. Carey were worth $1,128,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of WPC. Stephens Inc. AR grew its stake in shares of W. P. Carey by 7.9% in the third quarter. Stephens Inc. AR now owns 13,000 shares of the real estate investment trust's stock worth $810,000 after purchasing an additional 953 shares in the last quarter. Farther Finance Advisors LLC grew its position in W. P. Carey by 122.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,520 shares of the real estate investment trust's stock valued at $95,000 after buying an additional 838 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in W. P. Carey in the 3rd quarter valued at about $9,086,000. Van ECK Associates Corp increased its stake in W. P. Carey by 11.8% during the 3rd quarter. Van ECK Associates Corp now owns 98,733 shares of the real estate investment trust's stock valued at $5,828,000 after buying an additional 10,409 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of W. P. Carey by 274.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 405,808 shares of the real estate investment trust's stock worth $25,282,000 after buying an additional 297,432 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.
W. P. Carey Trading Up 1.2 %
Shares of NYSE:WPC traded up $0.78 during midday trading on Friday, reaching $64.74. The company had a trading volume of 1,410,553 shares, compared to its average volume of 1,108,819. The company has a fifty day simple moving average of $57.75 and a two-hundred day simple moving average of $58.20. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 30.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $65.45. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98.
W. P. Carey Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 5.44%. The ex-dividend date was Tuesday, December 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio is 168.42%.
Analysts Set New Price Targets
Several research analysts have recently issued reports on WPC shares. Royal Bank of Canada increased their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. UBS Group decreased their price target on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research note on Thursday, November 14th. Evercore ISI boosted their price objective 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. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Finally, Barclays boosted their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $62.88.
Check Out Our Latest Research 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.
Further Reading
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
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
