W. P. Carey Inc. (NYSE:WPC) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lessened its stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 364,236 shares of the real estate investment trust's stock after selling 15,617 shares during the quarter. Wells Fargo & Company MN owned about 0.17% of W. P. Carey worth $19,844,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. National Pension Service acquired a new stake in W. P. Carey during the fourth quarter worth approximately $25,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of W. P. Carey during the fourth quarter worth $37,000. Millstone Evans Group LLC purchased a new stake in shares of W. P. Carey in the fourth quarter valued at $37,000. Plato Investment Management Ltd acquired a new position in W. P. Carey in the fourth quarter valued at $48,000. Finally, Hoey Investments Inc. purchased a new position in W. P. Carey during the fourth quarter worth about $48,000. Hedge funds and other institutional investors own 73.73% of the company's stock.

W. P. Carey Stock Up 1.5 %

Shares of NYSE WPC traded up $0.90 on Friday, hitting $62.18. The company had a trading volume of 771,315 shares, compared to its average volume of 1,182,796. 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 Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The firm has a market capitalization of $13.62 billion, a P/E ratio of 29.75, a PEG ratio of 1.06 and a beta of 0.81. The business has a 50 day moving average of $61.40 and a two-hundred day moving average of $58.11.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date of this dividend was Monday, March 31st. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio is currently 170.33%.

Analyst Upgrades and Downgrades

WPC has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective 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. Barclays upped their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 4th. JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Royal Bank of Canada increased 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. Finally, Scotiabank boosted their price target on W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research report 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average 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.