W. P. Carey Inc. (NYSE:WPC) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 12.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,491 shares of the real estate investment trust's stock after selling 18,351 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of W. P. Carey worth $7,053,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Maia Wealth LLC bought a new stake in shares of W. P. Carey during the 3rd quarter worth approximately $40,000. Abich Financial Wealth Management LLC lifted its position in shares of W. P. Carey by 2,374.1% during the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 641 shares during the last quarter. Fortitude Family Office LLC boosted its stake in shares of W. P. Carey by 962.5% during the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 616 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of W. P. Carey in the third quarter worth about $44,000. Finally, Allspring Global Investments Holdings LLC increased its stake in W. P. Carey by 70.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust's stock worth $51,000 after buying an additional 341 shares during the period. Institutional investors own 73.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WPC shares. Barclays dropped their target price on shares of 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. UBS Group reduced their price objective on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Scotiabank lowered their target price on W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating for the company in a report on Thursday, January 16th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $62.00.

W. P. Carey Stock Up 0.8 %

Shares of NYSE:WPC traded up $0.43 during trading on Tuesday, reaching $56.16. The stock had a trading volume of 1,152,646 shares, compared to its average volume of 931,700. The firm's 50-day simple moving average is $55.29 and its 200 day simple moving average is $57.60. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $64.26. The company has a market capitalization of $12.29 billion, a P/E ratio of 22.11, a PEG ratio of 1.02 and a beta of 0.97.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.88 dividend. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 6.27%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey's payout ratio is currently 138.58%.

W. P. Carey Company 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.