Consolidated Portfolio Review Corp bought a new stake in W. P. Carey Inc. (NYSE:WPC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,152 shares of the real estate investment trust's stock, valued at approximately $825,000.
Several other hedge funds also recently bought and sold shares of WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in W. P. Carey by 660.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust's stock valued at $127,969,000 after buying an additional 1,784,131 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of W. P. Carey by 649.4% during the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust's stock worth $34,507,000 after acquiring an additional 479,973 shares during the period. FMR LLC lifted its position in W. P. Carey by 103.3% in the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust's stock valued at $50,219,000 after acquiring an additional 409,593 shares in the last quarter. International Assets Investment Management LLC boosted its stake in W. P. Carey by 6,145.1% in the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust's stock worth $25,375,000 after purchasing an additional 400,782 shares during the period. Finally, Robeco Institutional Asset Management B.V. increased its holdings in 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 purchasing an additional 297,432 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.
W. P. Carey Stock Performance
Shares of W. P. Carey stock traded up $0.43 during trading on Tuesday, hitting $56.16. 1,152,646 shares of the stock were exchanged, compared to its average volume of 931,700. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The company has a fifty day moving average price of $55.29 and a 200-day moving average price of $57.60. The stock has a market capitalization of $12.29 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $64.26.
W. P. Carey Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.88 dividend. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 6.27%. W. P. Carey's dividend payout ratio is currently 138.58%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on WPC shares. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a report on Friday, January 10th. UBS Group dropped their target price on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a research report on Thursday, November 14th. Barclays reduced their price target 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. Finally, Scotiabank cut their price objective on shares of W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating on the stock in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, W. P. Carey presently has a consensus rating of "Hold" and an average price target of $62.00.
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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.
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