W. P. Carey Inc. (NYSE:WPC) Shares Sold by Aviva PLC

Aviva PLC trimmed its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 47.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 133,848 shares of the real estate investment trust's stock after selling 120,994 shares during the period. Aviva PLC owned about 0.06% of W. P. Carey worth $7,292,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in WPC. National Pension Service purchased a new position in W. P. Carey during the fourth quarter valued at $25,000. Millstone Evans Group LLC purchased a new position in shares of W. P. Carey during the 4th quarter valued at about $37,000. Wingate Wealth Advisors Inc. bought a new stake in W. P. Carey during the 4th quarter worth approximately $37,000. Plato Investment Management Ltd purchased a new stake in shares of W. P. Carey in the fourth quarter worth $48,000. Finally, Hoey Investments Inc. bought a new stake in shares of W. P. Carey during the 4th quarter valued at $48,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Price Performance

Shares of NYSE:WPC traded up $1.57 during trading on Monday, reaching $59.44. The stock had a trading volume of 182,714 shares, compared to its average volume of 1,181,837. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The stock has a market cap of $13.02 billion, a PE ratio of 28.44, a PEG ratio of 1.06 and a beta of 0.81. The business has a fifty day moving average price of $60.88 and a 200-day moving average price of $58.08.

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W. P. Carey Increases Dividend

The firm also recently declared 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. This represents a $3.56 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio is 170.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WPC shares. Scotiabank increased their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a report on Wednesday, March 12th. Wells Fargo & Company raised their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Barclays lifted their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a report on Tuesday, March 4th. Finally, Royal Bank of Canada boosted their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $63.75.

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.