Cullen Frost Bankers Inc. Lowers Stake in W. P. Carey Inc. (NYSE:WPC)

Cullen Frost Bankers Inc. decreased its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 5.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,551 shares of the real estate investment trust's stock after selling 7,044 shares during the period. Cullen Frost Bankers Inc. owned approximately 0.06% of W. P. Carey worth $7,167,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. National Pension Service acquired a new position in W. P. Carey in the fourth quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new position in W. P. Carey in the fourth quarter valued at $37,000. Maia Wealth LLC acquired a new position in shares of W. P. Carey during the third quarter valued at about $40,000. RPg Family Wealth Advisory LLC acquired a new position in shares of W. P. Carey during the third quarter valued at about $44,000. Finally, Plato Investment Management Ltd acquired a new position in shares of W. P. Carey during the fourth quarter valued at about $48,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Stock Performance

Shares of W. P. Carey stock traded up $0.78 on Friday, reaching $64.74. 1,410,553 shares of the company traded hands, compared to its average volume of 1,108,819. The firm has a market capitalization of $14.17 billion, a PE ratio of 30.98, 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. The company has a 50 day moving average of $57.75 and a 200 day moving average of $58.19. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $65.45.

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W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.88 per share. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey's dividend payout ratio is presently 168.42%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WPC. Royal Bank of Canada upped their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. UBS Group reduced their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Thursday, November 14th. BMO Capital Markets raised shares of W. P. Carey from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Evercore ISI increased their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Finally, Scotiabank reduced their target price on shares of W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $62.88.

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.