W. P. Carey Inc. (NYSE:WPC) Shares Sold by Aviva PLC

Aviva PLC lowered its stake in W. P. Carey Inc. (NYSE:WPC) by 47.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,848 shares of the real estate investment trust’s stock after selling 120,994 shares during the period. Aviva PLC owned about 0.06% of W. P. Carey worth $7,292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Benjamin Edwards Inc. grew its holdings in W. P. Carey by 444.4% during the 3rd quarter. Benjamin Edwards Inc. now owns 4,976 shares of the real estate investment trust’s stock worth $310,000 after acquiring an additional 4,062 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of W. P. Carey by 7.0% during the 3rd quarter. Quantinno Capital Management LP now owns 22,884 shares of the real estate investment trust’s stock worth $1,426,000 after purchasing an additional 1,504 shares during the last quarter. Stifel Financial Corp grew its stake in shares of W. P. Carey by 7.0% during the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after purchasing an additional 2,075 shares in the last quarter. Wellington Management Group LLP increased its holdings in W. P. Carey by 121.9% in the third quarter. Wellington Management Group LLP now owns 253,419 shares of the real estate investment trust’s stock valued at $15,788,000 after buying an additional 139,212 shares during the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in W. P. Carey by 63.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 8,549 shares of the real estate investment trust’s stock worth $533,000 after buying an additional 3,329 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Down 1.7 %

NYSE WPC opened at $56.01 on Wednesday. The firm’s fifty day moving average is $60.70 and its two-hundred day moving average is $58.23. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $12.26 billion, a PE ratio of 26.80, a P/E/G ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 170.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Royal Bank of Canada boosted 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 report on Thursday, February 13th. Evercore ISI increased their target price on shares of 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. Barclays lifted 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 note on Tuesday, March 4th. Finally, Scotiabank upped their price objective 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. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $63.75.

About W. P. Carey

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.