Summit Securities Group LLC decreased its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 91.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 500 shares of the real estate investment trust's stock after selling 5,600 shares during the quarter. Summit Securities Group LLC's holdings in W. P. Carey were worth $27,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in W. P. Carey by 12.6% during the third quarter. The Manufacturers Life Insurance Company now owns 192,869 shares of the real estate investment trust's stock worth $12,016,000 after buying an additional 21,563 shares in the last quarter. FMR LLC grew its holdings in shares of 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 worth $50,219,000 after purchasing an additional 409,593 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of W. P. Carey by 138.0% in the third quarter. BNP Paribas Financial Markets now owns 306,304 shares of the real estate investment trust's stock worth $19,083,000 after purchasing an additional 177,617 shares during the period. Townsquare Capital LLC grew its stake in W. P. Carey by 5.2% during the third quarter. Townsquare Capital LLC now owns 11,099 shares of the real estate investment trust's stock worth $691,000 after buying an additional 550 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its stake in W. P. Carey by 14.1% during the third quarter. CreativeOne Wealth LLC now owns 4,236 shares of the real estate investment trust's stock worth $264,000 after buying an additional 523 shares in the last quarter. Institutional investors own 73.73% of the company's stock.
W. P. Carey Price Performance
NYSE:WPC traded down $0.86 during trading hours on Thursday, hitting $61.83. The company's stock had a trading volume of 974,964 shares, compared to its average volume of 1,168,557. The stock has a fifty day simple moving average of $60.46 and a 200-day simple moving average of $58.42. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a market capitalization of $13.53 billion, a P/E ratio of 29.58, a PEG ratio of 1.06 and a beta of 0.95. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.89 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.76%. W. P. Carey's dividend payout ratio (DPR) is currently 170.33%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the stock. BMO Capital Markets raised shares of W. P. Carey from a "market perform" rating to an "outperform" rating and lifted their price objective for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Royal Bank of Canada increased their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Wells Fargo & Company lifted their price objective on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. Finally, Evercore ISI lifted their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, W. P. Carey currently has an average rating of "Hold" and a consensus price target of $63.75.
Read Our Latest Analysis on W. P. Carey
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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