New York State Common Retirement Fund trimmed its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 7.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 113,538 shares of the real estate investment trust's stock after selling 8,800 shares during the period. New York State Common Retirement Fund owned 0.05% of W. P. Carey worth $6,186,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of W. P. Carey by 660.9% in the 3rd 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 during the last quarter. Victory Capital Management Inc. boosted its holdings in W. P. Carey by 649.4% in the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust's stock valued at $34,507,000 after acquiring an additional 479,973 shares during the last quarter. FMR LLC increased its position in W. P. Carey by 103.3% during the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust's stock valued at $50,219,000 after purchasing an additional 409,593 shares during the period. Robeco Institutional Asset Management B.V. raised 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 during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of W. P. Carey by 21.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust's stock worth $94,325,000 after purchasing an additional 264,230 shares during the period. Institutional investors own 73.73% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on WPC shares. BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. UBS Group dropped their price objective on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday, November 14th. Evercore ISI raised their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. Barclays dropped their price target on W. P. Carey from $59.00 to $56.00 and set an "underweight" rating on the stock in a research note on Tuesday, February 4th. Finally, JMP Securities restated a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, W. P. Carey has an average rating of "Hold" and a consensus price target of $62.38.
Get Our Latest Stock Report on W. P. Carey
W. P. Carey Stock Up 1.0 %
WPC stock traded up $0.62 during trading on Monday, reaching $64.83. 818,675 shares of the stock were exchanged, compared to its average volume of 1,124,059. The firm's 50 day moving average is $56.77 and its 200 day moving average is $57.96. The firm has a market cap of $14.19 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.84.
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 $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 5.43%. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio (DPR) is presently 168.42%.
W. P. Carey Profile
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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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