Zacks Investment Management Sells 98,908 Shares of W. P. Carey Inc. (NYSE:WPC)

Zacks Investment Management lessened its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 16.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 514,898 shares of the real estate investment trust's stock after selling 98,908 shares during the period. Zacks Investment Management owned 0.24% of W. P. Carey worth $28,052,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. National Pension Service acquired a new stake in W. P. Carey in the fourth quarter worth approximately $25,000. Millstone Evans Group LLC bought a new stake in shares of W. P. Carey in the 4th quarter worth $37,000. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey during the fourth quarter valued at about $37,000. Bessemer Group Inc. grew its holdings in W. P. Carey by 118.6% during the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 402 shares during the period. Finally, Plato Investment Management Ltd bought a new stake in W. P. Carey in the fourth quarter worth about $48,000. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Stock Performance

W. P. Carey stock traded up $0.90 on Friday, hitting $62.18. The company's stock had a trading volume of 771,315 shares, compared to its average volume of 1,182,796. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The firm has a market cap of $13.62 billion, a P/E ratio of 29.75, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The company has a fifty day moving average price of $61.40 and a 200-day moving average price of $58.11.

W. P. Carey Increases Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on WPC shares. Scotiabank boosted their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. Royal Bank of Canada raised 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 note on Thursday, February 13th. Barclays increased their target price on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a report on Tuesday, March 4th. Wells Fargo & Company upped their target price on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Finally, BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $63.75.

W. P. Carey 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.