Zacks Investment Management Sells 98,908 Shares of W. P. Carey Inc. (NYSE:WPC)

Zacks Investment Management cut its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 514,898 shares of the real estate investment trust's stock after selling 98,908 shares during the period. Zacks Investment Management owned about 0.24% of W. P. Carey worth $28,052,000 at the end of the most recent quarter.

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

W. P. Carey Stock Performance

NYSE WPC traded down $0.80 during trading hours on Monday, reaching $61.37. The company's stock had a trading volume of 239,969 shares, compared to its average volume of 1,178,706. The business has a 50-day simple moving average of $61.40 and a 200 day simple moving average of $58.07. The stock has a market cap of $13.44 billion, a PE ratio of 29.36, a PEG ratio of 1.06 and a beta of 0.81. 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 Inc. has a 52 week low of $52.91 and a 52 week high of $66.10.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.89 dividend. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date was Monday, March 31st. This represents a $3.56 annualized dividend and a dividend yield of 5.80%. W. P. Carey's dividend payout ratio is 170.33%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on WPC shares. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Barclays upped 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. Wells Fargo & Company increased their price target 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. Scotiabank upped their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. Finally, 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. One equities 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.com, the company has a consensus rating of "Hold" and an average price target 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.