AlphaQuest LLC Sells 87,281 Shares of W. P. Carey Inc. (NYSE:WPC)

AlphaQuest LLC lowered its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 80.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,467 shares of the real estate investment trust’s stock after selling 87,281 shares during the period. AlphaQuest LLC’s holdings in W. P. Carey were worth $1,170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of W. P. Carey by 660.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after purchasing an additional 1,784,131 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of W. P. Carey during the 4th quarter valued at about $31,442,000. Victory Capital Management Inc. increased its position in shares of W. P. Carey by 649.4% during the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after purchasing an additional 479,973 shares during the last quarter. FMR LLC increased its position in shares of W. P. Carey by 103.3% during the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after purchasing an additional 409,593 shares during the last quarter. Finally, Equity Investment Corp increased its position in shares of W. P. Carey by 26.3% during the 4th quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock valued at $101,918,000 after purchasing an additional 389,107 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 1.2 %

Shares of WPC opened at $64.74 on Monday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $65.45. The company has a 50 day simple moving average of $57.75 and a two-hundred day simple moving average of $58.19. The firm has a market cap of $14.17 billion, a P/E ratio of 30.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is 168.42%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Royal Bank of Canada upped their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. UBS Group reduced their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, Barclays increased their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. One equities 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.88.

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.