W. P. Carey Inc. (NYSE:WPC) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,066 shares of the real estate investment trust's stock after selling 4,233 shares during the quarter. Thrivent Financial for Lutherans' holdings in W. P. Carey were worth $3,283,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC purchased a new stake in shares of W. P. Carey during the 3rd quarter worth approximately $218,000. Penserra Capital Management LLC raised its holdings in W. P. Carey by 21.0% during the third quarter. Penserra Capital Management LLC now owns 22,404 shares of the real estate investment trust's stock worth $1,394,000 after purchasing an additional 3,884 shares during the last quarter. Truvestments Capital LLC purchased a new stake in W. P. Carey during the third quarter worth $155,000. The Manufacturers Life Insurance Company grew its holdings in W. P. Carey by 12.6% in the third quarter. The Manufacturers Life Insurance Company now owns 192,869 shares of the real estate investment trust's stock valued at $12,016,000 after purchasing an additional 21,563 shares during the last quarter. Finally, FMR LLC lifted its holdings in W. P. Carey by 103.3% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Trading Up 0.4 %

Shares of W. P. Carey stock traded up $0.26 during trading hours on Friday, reaching $62.67. The stock had a trading volume of 794,407 shares, compared to its average volume of 1,163,911. The firm has a market capitalization of $13.71 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 1.06 and a beta 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 current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a 50 day simple moving average of $60.04 and a two-hundred day simple moving average of $58.38.

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W. P. Carey Increases Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 5.68%. The ex-dividend date of this dividend is 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 currently 170.33%.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Barclays upped their target price on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, March 4th. Finally, Scotiabank raised their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. One equities 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. Based on data from MarketBeat.com, the company 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.