Moors & Cabot Inc. cut its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 22.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,340 shares of the real estate investment trust's stock after selling 6,250 shares during the quarter. Moors & Cabot Inc.'s holdings in W. P. Carey were worth $1,163,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Independent Advisor Alliance grew its stake in shares of W. P. Carey by 15.4% in the fourth quarter. Independent Advisor Alliance now owns 10,337 shares of the real estate investment trust's stock worth $563,000 after purchasing an additional 1,381 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in W. P. Carey by 33.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 124,715 shares of the real estate investment trust's stock worth $6,794,000 after purchasing an additional 31,427 shares during the period. Axis Wealth Partners LLC bought a new position in W. P. Carey in the 4th quarter valued at about $468,000. Pillar Financial Advisors LLC acquired a new position in W. P. Carey during the 4th quarter valued at about $81,000. Finally, Amundi raised its position in shares of W. P. Carey by 4.0% during the 4th quarter. Amundi now owns 271,703 shares of the real estate investment trust's stock worth $14,884,000 after buying an additional 10,365 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.
W. P. Carey Trading Down 0.1 %
Shares of NYSE:WPC traded down $0.07 during midday trading on Monday, reaching $62.59. The company had a trading volume of 1,723,459 shares, compared to its average volume of 1,210,227. The company has a fifty day simple moving average of $58.57 and a two-hundred day simple moving average of $58.30. The firm has a market cap of $13.70 billion, a price-to-earnings ratio of 29.95, 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 $66.10. 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 5.69%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey's dividend payout ratio (DPR) is presently 170.33%.
Analysts Set New Price Targets
WPC has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Evercore ISI lifted their price target on W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Barclays lifted 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. Finally, Scotiabank upped their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $63.75.
Check Out Our Latest Research Report on WPC
W. P. Carey Company 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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