Truvestments Capital LLC Reduces Stock Position in W. P. Carey Inc. (NYSE:WPC)

Truvestments Capital LLC reduced its holdings in W. P. Carey Inc. (NYSE:WPC) by 47.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,311 shares of the real estate investment trust’s stock after selling 1,181 shares during the period. Truvestments Capital LLC’s holdings in W. P. Carey were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of W. P. Carey by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock worth $284,426,000 after buying an additional 127,477 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of W. P. Carey by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust’s stock worth $143,926,000 after buying an additional 43,197 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of W. P. Carey by 660.9% in 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 worth $127,969,000 after buying an additional 1,784,131 shares in the last quarter. Equity Investment Corp grew 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 worth $101,918,000 after buying an additional 389,107 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of W. P. Carey by 21.1% in the 3rd 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 owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WPC. Evercore ISI raised their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. UBS Group lowered 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. Barclays raised 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. Wells Fargo & Company raised their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.75.

W. P. Carey Trading Down 1.6 %

Shares of WPC opened at $61.97 on Thursday. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The company has a 50-day moving average of $58.12 and a 200 day moving average of $58.25. The firm has a market capitalization of $13.56 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 1.06 and a beta of 0.95. 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 Company 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.