W. P. Carey Inc. (NYSE:WPC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,237,905 shares of the real estate investment trust's stock after selling 10,351 shares during the quarter. Bank of New York Mellon Corp owned about 1.02% of W. P. Carey worth $121,921,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey during the 4th quarter valued at $37,000. Maia Wealth LLC acquired a new stake in W. P. Carey during the 3rd quarter valued at $40,000. RPg Family Wealth Advisory LLC purchased a new position in shares of W. P. Carey during the 3rd quarter worth $44,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of W. P. Carey by 70.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust's stock worth $51,000 after purchasing an additional 341 shares during the last quarter. Finally, Roxbury Financial LLC purchased a new stake in shares of W. P. Carey in the fourth quarter valued at $58,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Trading Up 0.7 %

WPC stock traded up $0.46 during trading on Monday, reaching $64.67. 1,294,690 shares of the stock traded hands, compared to its average volume of 1,110,475. The business's 50 day moving average price is $56.77 and its 200-day moving average price is $57.96. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $64.87. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $14.15 billion, a PE ratio of 30.94, a P/E/G ratio of 1.06 and a beta of 0.97.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 5.44%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey's dividend payout ratio is 168.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WPC shares. Barclays lowered their price objective on W. P. Carey from $59.00 to $56.00 and set an "underweight" rating for the company in a research report on Tuesday, February 4th. Scotiabank lowered their price objective on W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating for the company in a research report on Thursday, January 16th. UBS Group lowered their price objective on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Thursday, November 14th. Royal Bank of Canada lifted their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Finally, BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. One 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 company. According to MarketBeat, W. P. Carey has a consensus rating of "Hold" and a consensus target price of $62.38.

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.