W. P. Carey Inc. (NYSE:WPC) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its position in W. P. Carey Inc. (NYSE:WPC) by 1.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 124,401 shares of the real estate investment trust’s stock after selling 1,655 shares during the quarter. Pictet Asset Management Holding SA’s holdings in W. P. Carey were worth $6,777,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. National Pension Service purchased a new stake in shares of W. P. Carey in the fourth quarter valued at about $25,000. Millstone Evans Group LLC purchased a new stake in W. P. Carey in the 4th quarter valued at approximately $37,000. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey during the 4th quarter valued at $37,000. Plato Investment Management Ltd purchased a new position in W. P. Carey during the fourth quarter worth $48,000. Finally, Roxbury Financial LLC acquired a new position in shares of W. P. Carey in the fourth quarter worth $58,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays lifted their price objective on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. Wells Fargo & Company boosted 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 report on Monday, March 10th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Evercore ISI lifted their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Finally, BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $63.75.

W. P. Carey Stock Down 2.2 %

Shares of WPC opened at $61.31 on Friday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The company’s fifty day moving average is $60.59 and its two-hundred day moving average is $58.44. The firm has a market cap of $13.42 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.89 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.81%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is presently 170.33%.

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.