State of Tennessee Department of Treasury Sells 34,287 Shares of W. P. Carey Inc. (NYSE:WPC)

State of Tennessee Department of Treasury decreased its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 35.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,334 shares of the real estate investment trust's stock after selling 34,287 shares during the period. State of Tennessee Department of Treasury's holdings in W. P. Carey were worth $3,450,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. DF Dent & Co. Inc. boosted its holdings in shares of W. P. Carey by 3.5% during the 4th quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust's stock worth $298,000 after buying an additional 183 shares in the last quarter. HighTower Advisors LLC boosted its stake in W. P. Carey by 0.4% during the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock worth $2,418,000 after acquiring an additional 193 shares in the last quarter. Capital Investment Advisory Services LLC grew its holdings in W. P. Carey by 3.1% in the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust's stock worth $474,000 after purchasing an additional 259 shares during the period. Empowered Funds LLC increased its stake in W. P. Carey by 7.7% in the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust's stock valued at $206,000 after purchasing an additional 271 shares in the last quarter. Finally, Cooper Financial Group raised its holdings in shares of W. P. Carey by 2.4% during the fourth quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust's stock valued at $649,000 after purchasing an additional 276 shares during the period. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Stock Performance

NYSE WPC opened at $60.62 on Friday. The company has a fifty day moving average price of $61.63 and a 200-day moving average price of $58.12. The firm has a market cap of $13.27 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 1.06 and a beta of 0.81. 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 Inc. has a 1 year low of $52.91 and a 1 year high of $66.10.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.87%. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date was Monday, March 31st. W. P. Carey's dividend payout ratio is presently 170.33%.

Analyst Upgrades and Downgrades

WPC has been the subject of several research reports. Evercore ISI raised their target price on 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. Royal Bank of Canada boosted their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Wells Fargo & Company increased their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, Barclays upped their price objective 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, W. P. Carey has an average rating of "Hold" and a consensus price target of $63.75.

About W. P. Carey

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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