W. P. Carey Inc. (NYSE:WPC) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC cut its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 83.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,124 shares of the real estate investment trust's stock after selling 109,253 shares during the period. Guggenheim Capital LLC's holdings in W. P. Carey were worth $1,151,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. National Pension Service acquired a new position in W. P. Carey in the 4th quarter worth approximately $25,000. Millstone Evans Group LLC purchased a new position in shares of W. P. Carey during the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. acquired a new position in W. P. Carey during the fourth quarter valued at $37,000. Bessemer Group Inc. boosted its holdings in W. P. Carey by 118.6% in the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock valued at $40,000 after purchasing an additional 402 shares during the last quarter. Finally, Plato Investment Management Ltd acquired a new stake in W. P. Carey during the 4th quarter worth about $48,000. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Up 1.3 %

WPC opened at $62.08 on Wednesday. The company has a market cap of $13.59 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a 50-day moving average price of $61.54 and a 200 day moving average price of $58.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 5.73%. The ex-dividend date was Monday, March 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio (DPR) is 170.33%.

Wall Street Analysts Forecast Growth

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

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