W. P. Carey Inc. (NYSE:WPC) Shares Sold by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. reduced its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,551 shares of the real estate investment trust’s stock after selling 7,044 shares during the period. Cullen Frost Bankers Inc. owned about 0.06% of W. P. Carey worth $7,167,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. 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 third 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 worth $127,969,000 after acquiring an additional 1,784,131 shares during the period. Victory Capital Management Inc. increased its holdings in 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 worth $34,507,000 after purchasing an additional 479,973 shares during the period. FMR LLC raised its position in W. P. Carey by 103.3% in 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 in the last quarter. Equity Investment Corp boosted its stake in shares of W. P. Carey by 26.3% in 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 buying an additional 389,107 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of 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 buying an additional 264,230 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. UBS Group reduced their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. 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 research note on Tuesday. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price target for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Finally, Scotiabank lowered their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. One 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $62.88.

W. P. Carey Stock Down 1.7 %

W. P. Carey stock opened at $63.95 on Friday. The company has a market capitalization of $13.99 billion, a P/E ratio of 30.60, a PEG ratio of 1.06 and a beta of 0.97. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $65.45. The stock has a 50-day simple moving average of $57.36 and a 200-day simple moving average of $58.11.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.88 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 5.50%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio is presently 168.42%.

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.