Advisors Capital Management LLC Has $30.65 Million Position in W. P. Carey Inc. (NYSE:WPC)

Advisors Capital Management LLC lowered its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 17.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 562,654 shares of the real estate investment trust's stock after selling 115,155 shares during the period. Advisors Capital Management LLC owned 0.26% of W. P. Carey worth $30,653,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Stifel Financial Corp lifted its stake in shares of W. P. Carey by 7.0% in the 3rd quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust's stock worth $1,980,000 after acquiring an additional 2,075 shares during the period. Wellington Management Group LLP raised its stake in shares of W. P. Carey by 121.9% in the 3rd quarter. Wellington Management Group LLP now owns 253,419 shares of the real estate investment trust's stock worth $15,788,000 after buying an additional 139,212 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of W. P. Carey by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust's stock valued at $284,426,000 after buying an additional 127,477 shares during the period. Toronto Dominion Bank grew its holdings in W. P. Carey by 31.4% during the third quarter. Toronto Dominion Bank now owns 27,551 shares of the real estate investment trust's stock worth $1,716,000 after acquiring an additional 6,586 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in W. P. Carey in the 3rd quarter valued at about $262,000. Institutional investors and hedge funds own 73.73% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Barclays boosted their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 4th. Wells Fargo & Company boosted their price objective 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. BMO Capital Markets raised shares of W. P. Carey from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, Evercore ISI raised 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 research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, W. P. Carey currently has a consensus rating of "Hold" and an average price target of $63.75.

W. P. Carey Stock Up 1.5 %

WPC stock traded up $0.90 during mid-day trading on Friday, hitting $62.18. The stock had a trading volume of 771,315 shares, compared to its average volume of 1,182,824. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 1.06 and a beta of 0.81. 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 1-year low of $52.91 and a 1-year high of $66.10. The company has a fifty day moving average of $61.28 and a 200 day moving average of $58.10.

W. P. Carey Increases Dividend

The firm also recently announced 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 annualized dividend and a yield of 5.73%. 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 payout ratio is currently 170.33%.

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.