Rockefeller Capital Management L.P. Sells 4,885 Shares of W. P. Carey Inc. (NYSE:WPC)

Rockefeller Capital Management L.P. reduced its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 23.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,738 shares of the real estate investment trust's stock after selling 4,885 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in W. P. Carey were worth $857,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in 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 in the last quarter. Sei Investments Co. grew its position 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 buying an additional 8,197 shares in the last quarter. Signet Financial Management LLC acquired a new stake in W. P. Carey during the fourth quarter worth about $1,942,000. Diversified Trust Co acquired a new stake in W. P. Carey during the fourth quarter worth about $534,000. Finally, JPMorgan Chase & Co. lifted its stake in W. P. Carey by 21.1% during the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust's stock worth $94,325,000 after purchasing an additional 264,230 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Price Performance

Shares of WPC stock traded up $0.19 during trading hours on Monday, hitting $60.81. 749,646 shares of the company's stock were exchanged, compared to its average volume of 1,178,693. The stock's 50-day moving average is $61.64 and its 200-day moving average is $58.12. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 5.85%. The ex-dividend date 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 presently 170.33%.

Analysts Set New Price Targets

WPC has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target 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. 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 research note on Tuesday, February 18th. Scotiabank raised their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research note on Wednesday, March 12th. Evercore ISI raised 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 note on Wednesday, February 19th. Finally, Wells Fargo & Company raised their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, W. P. Carey currently has a consensus 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.