Corebridge Financial Inc. cut its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 4.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 247,618 shares of the real estate investment trust's stock after selling 11,161 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of W. P. Carey worth $13,490,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WPC. HighTower Advisors LLC boosted its holdings in shares of W. P. Carey by 0.4% during the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock valued at $2,418,000 after buying an additional 193 shares in the last quarter. Capital Investment Advisory Services LLC lifted its position in W. P. Carey by 3.1% during the 4th quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust's stock valued at $474,000 after acquiring an additional 259 shares during the period. Empowered Funds LLC boosted its stake in W. P. Carey by 7.7% during the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust's stock worth $206,000 after acquiring an additional 271 shares in the last quarter. Cooper Financial Group grew its holdings in W. P. Carey by 2.4% in the fourth quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust's stock worth $649,000 after purchasing an additional 276 shares during the period. Finally, Impact Partnership Wealth LLC increased its stake in shares of W. P. Carey by 3.6% during the fourth quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust's stock valued at $452,000 after purchasing an additional 289 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of analysts have recently commented on WPC shares. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Barclays boosted their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a report on Tuesday, March 4th. Wells Fargo & Company raised their price target on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Scotiabank upped 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. Finally, Evercore ISI raised their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $63.75.
Check Out Our Latest Research Report on W. P. Carey
W. P. Carey Stock Performance
WPC traded up $0.26 during midday trading on Friday, hitting $62.67. 794,407 shares of the company traded hands, compared to its average volume of 1,163,911. The company's 50-day moving average is $60.04 and its 200 day moving average is $58.38. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $13.71 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10.
W. P. Carey Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.89 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 5.68%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio (DPR) is currently 170.33%.
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
Wondering when you'll finally be able to invest in SpaceX, Starlink, or X.AI? Enter your email address to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
