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

AlphaQuest LLC reduced its position in shares of W. P. Carey Inc. (NYSE:WPC) by 80.3% in the fourth quarter, Holdings Channel reports. The fund owned 21,467 shares of the real estate investment trust’s stock after selling 87,281 shares during the quarter. AlphaQuest LLC’s holdings in W. P. Carey were worth $1,170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. National Pension Service bought a new position in shares of W. P. Carey during the 4th quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. bought a new stake in W. P. Carey in the fourth quarter worth $37,000. RPg Family Wealth Advisory LLC bought a new stake in W. P. Carey in the third quarter worth $44,000. Plato Investment Management Ltd bought a new stake in W. P. Carey in the fourth quarter worth $48,000. Finally, Roxbury Financial LLC bought a new stake in W. P. Carey in the fourth quarter worth $58,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Up 1.2 %

Shares of WPC opened at $64.74 on Monday. The firm has a market capitalization of $14.17 billion, a P/E ratio of 30.98, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $65.45. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a fifty day moving average price of $57.75 and a 200-day moving average price of $58.19.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 5.44%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s payout ratio is presently 168.42%.

Analyst Ratings Changes

A number of analysts recently issued reports on WPC shares. Evercore ISI raised their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Royal Bank of Canada raised their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Barclays raised their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. Scotiabank lowered their price target 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. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, W. P. Carey has an average rating of “Hold” and an average target price 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.