W. P. Carey Inc. (NYSE:WPC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 12.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 579,762 shares of the real estate investment trust's stock after selling 86,105 shares during the quarter. Envestnet Asset Management Inc. owned about 0.26% of W. P. Carey worth $31,585,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Oarsman Capital Inc. grew its position in W. P. Carey by 36.7% during the 4th quarter. Oarsman Capital Inc. now owns 3,075 shares of the real estate investment trust's stock worth $168,000 after purchasing an additional 825 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in W. P. Carey in the fourth quarter valued at approximately $6,516,000. Prudential PLC grew its stake in shares of W. P. Carey by 13.5% during the 4th quarter. Prudential PLC now owns 13,398 shares of the real estate investment trust's stock worth $730,000 after purchasing an additional 1,590 shares during the period. DF Dent & Co. Inc. lifted its stake in shares of W. P. Carey by 3.5% in the 4th quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust's stock valued at $298,000 after purchasing an additional 183 shares during the period. Finally, World Investment Advisors acquired a new stake in W. P. Carey during the fourth quarter valued at $361,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Price Performance

WPC traded up $0.90 on Friday, reaching $62.18. 771,315 shares of the company's stock were exchanged, compared to its average volume of 1,182,824. The stock has a market cap of $13.62 billion, a PE ratio of 29.75, a P/E/G ratio of 1.06 and a beta of 0.81. The stock's fifty day moving average price is $61.28 and its 200-day moving average price is $58.10. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.89 dividend. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a yield of 5.73%. The ex-dividend date was Monday, March 31st. W. P. Carey's dividend payout ratio is presently 170.33%.

Analysts Set New Price Targets

WPC has been the topic of several recent analyst reports. Scotiabank increased their target price 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. Evercore ISI raised 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. Wells Fargo & Company increased their target price on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research report on Monday, March 10th. 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 report on Tuesday, March 4th. Finally, 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. One 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 a consensus 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.