W. P. Carey Inc. (NYSE:WPC) Stake Lowered by Quadrant Capital Group LLC

Quadrant Capital Group LLC cut its holdings in W. P. Carey Inc. (NYSE:WPC) by 13.1% in the fourth quarter, HoldingsChannel reports. The firm owned 2,898 shares of the real estate investment trust’s stock after selling 438 shares during the period. Quadrant Capital Group LLC’s holdings in W. P. Carey were worth $158,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Quantinno Capital Management LP raised its position in shares of W. P. Carey by 7.0% during the third quarter. Quantinno Capital Management LP now owns 22,884 shares of the real estate investment trust’s stock valued at $1,426,000 after buying an additional 1,504 shares during the last quarter. Stifel Financial Corp grew its stake in shares of 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 valued at $1,980,000 after purchasing an additional 2,075 shares during the last quarter. Wellington Management Group LLP lifted its holdings in W. P. Carey by 121.9% in the third quarter. Wellington Management Group LLP now owns 253,419 shares of the real estate investment trust’s stock valued at $15,788,000 after buying an additional 139,212 shares during the period. EP Wealth Advisors LLC raised its holdings in W. P. Carey by 63.8% in the third quarter. EP Wealth Advisors LLC now owns 8,549 shares of the real estate investment trust’s stock worth $533,000 after purchasing an additional 3,329 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its holdings in shares of W. P. Carey by 7.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 17,699 shares of the real estate investment trust’s stock worth $1,103,000 after acquiring an additional 1,169 shares during the period. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WPC. Wells Fargo & Company raised their target price 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. Royal Bank of Canada boosted their target price 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. Scotiabank lifted their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. Barclays boosted 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. Finally, BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $63.75.

W. P. Carey Stock Performance

Shares of WPC stock opened at $58.43 on Thursday. The firm has a 50-day moving average of $60.80 and a 200-day moving average of $58.20. The company has a market cap of $12.79 billion, a P/E ratio of 27.96, a P/E/G ratio of 1.06 and a beta of 0.81. 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 one year low of $52.91 and a one year high of $66.10.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 6.09%. The ex-dividend date is Monday, March 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is 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.