W. P. Carey Inc. (NYSE:WPC) Stock Position Reduced by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL trimmed its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 39.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,600 shares of the real estate investment trust's stock after selling 9,000 shares during the period. Gamco Investors INC. ET AL's holdings in W. P. Carey were worth $741,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WPC. RFG Advisory LLC grew its position in W. P. Carey by 91.7% during the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust's stock worth $347,000 after buying an additional 3,049 shares during the period. Stifel Financial Corp raised its holdings in 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 during the last quarter. Sei Investments Co. raised its holdings in W. P. Carey by 17.1% during the fourth quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust's stock worth $3,056,000 after purchasing an additional 8,197 shares during the last quarter. Signet Financial Management LLC acquired a new stake in W. P. Carey in the fourth quarter valued at $1,942,000. Finally, Diversified Trust Co acquired a new position in shares of W. P. Carey during the 4th quarter worth $534,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WPC shares. Wells Fargo & Company lifted their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and upped their target price for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Royal Bank of Canada boosted their price target on W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Evercore ISI upped their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Finally, Barclays boosted their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.75.

W. P. Carey Stock Up 0.1 %

Shares of NYSE:WPC traded up $0.04 during trading on Thursday, hitting $61.11. The company's stock had a trading volume of 273,478 shares, compared to its average volume of 1,178,579. 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 company has a market capitalization of $13.38 billion, a PE ratio of 29.23, a PEG ratio of 1.06 and a beta of 0.81. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The stock's 50-day moving average price is $61.59 and its two-hundred day moving average price is $58.12.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.89 dividend. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date was Monday, March 31st. W. P. Carey's dividend payout ratio is currently 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.