W. P. Carey Inc. (NYSE:WPC) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC reduced its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 83.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,124 shares of the real estate investment trust's stock after selling 109,253 shares during the quarter. Guggenheim Capital LLC's holdings in W. P. Carey were worth $1,151,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of W. P. Carey by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock valued at $1,679,110,000 after purchasing an additional 242,576 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of W. P. Carey by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock valued at $256,201,000 after buying an additional 135,090 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of W. P. Carey by 29.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust's stock valued at $219,170,000 after buying an additional 906,622 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of W. P. Carey by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust's stock valued at $143,926,000 after buying an additional 43,197 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $139,381,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. Royal Bank of Canada lifted their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Barclays lifted their price objective on W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a report on Tuesday, March 4th. Finally, Scotiabank lifted their price objective on W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $63.75.

W. P. Carey Trading Up 0.3 %

Shares of W. P. Carey stock traded up $0.19 during mid-day trading on Monday, hitting $60.81. 749,646 shares of the stock were exchanged, compared to its average volume of 1,178,693. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The stock has a market capitalization 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. The company has a 50-day simple moving average of $61.64 and a 200 day simple moving average of $58.12. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.89 per share. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.85%. The ex-dividend date was Monday, March 31st. W. P. Carey's dividend payout ratio (DPR) is currently 170.33%.

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.