State of Alaska Department of Revenue Has $7.05 Million Position in W. P. Carey Inc. (NYSE:WPC)

State of Alaska Department of Revenue lessened its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 12.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 129,491 shares of the real estate investment trust’s stock after selling 18,351 shares during the quarter. State of Alaska Department of Revenue’s holdings in W. P. Carey were worth $7,053,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 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 last quarter. Victory Capital Management Inc. increased its stake in shares of W. P. Carey by 649.4% during the third 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 lifted its holdings in 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 worth $50,219,000 after purchasing an additional 409,593 shares during the last quarter. International Assets Investment Management LLC boosted its stake in W. P. Carey by 6,145.1% in the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock valued at $25,375,000 after purchasing an additional 400,782 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its holdings in W. P. Carey by 274.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 405,808 shares of the real estate investment trust’s stock valued at $25,282,000 after buying an additional 297,432 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of W. P. Carey stock opened at $56.08 on Friday. The company has a 50 day moving average of $55.30 and a 200-day moving average of $57.69. The company has a market cap of $12.27 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $64.26.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.88 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 6.28%. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group dropped their target price on 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 reiterated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Scotiabank decreased their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. Finally, Barclays dropped their price target on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $62.00.

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.