Naviter Wealth LLC lessened its holdings in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 29.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,834 shares of the real estate investment trust's stock after selling 6,487 shares during the period. Naviter Wealth LLC's holdings in W. P. Carey were worth $877,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in W. P. Carey by 660.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust's stock valued at $127,969,000 after purchasing an additional 1,784,131 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in W. P. Carey in the fourth quarter valued at $31,442,000. Victory Capital Management Inc. grew its holdings in W. P. Carey by 649.4% in the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust's stock valued at $34,507,000 after purchasing an additional 479,973 shares during the last quarter. FMR LLC grew its holdings in W. P. Carey by 103.3% in the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust's stock valued at $50,219,000 after purchasing an additional 409,593 shares during the last quarter. Finally, Equity Investment Corp grew its holdings in W. P. Carey by 26.3% in the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust's stock valued at $101,918,000 after purchasing an additional 389,107 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on WPC shares. Royal Bank of Canada upped their target price on W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a report on Thursday, November 14th. Scotiabank lowered their target price on W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating on the stock in a report on Thursday, January 16th. BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, Evercore ISI upped their price objective on 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, W. P. Carey has an average rating of "Hold" and an average price target of $62.88.
Check Out Our Latest Analysis on W. P. Carey
W. P. Carey Trading Up 1.2 %
NYSE WPC traded up $0.78 during trading hours on Friday, hitting $64.74. 1,410,553 shares of the company's stock were exchanged, compared to its average volume of 1,108,819. The business's 50 day moving average is $57.75 and its 200-day moving average is $58.19. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $65.45. The firm has a market capitalization of $14.17 billion, a P/E ratio of 30.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. 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 Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. The ex-dividend date was Tuesday, December 31st. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 5.44%. W. P. Carey's dividend payout ratio is currently 168.42%.
W. P. Carey 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.
Read More
Before you consider W. P. Carey, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and W. P. Carey wasn't on the list.
While W. P. Carey currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
