W. P. Carey Inc. (NYSE:WPC) Stake Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,066 shares of the real estate investment trust’s stock after selling 4,233 shares during the period. Thrivent Financial for Lutherans’ holdings in W. P. Carey were worth $3,283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WPC. 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 valued at $127,969,000 after buying an additional 1,784,131 shares in the last quarter. Raymond James Financial Inc. bought a new stake in W. P. Carey in the fourth quarter worth approximately $31,442,000. FMR LLC increased its stake in shares of 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. Equity Investment Corp raised its holdings in shares of W. P. Carey by 26.3% during 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 purchasing an additional 389,107 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted 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 valued at $94,325,000 after purchasing an additional 264,230 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $62.86 on Thursday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $13.76 billion, a PE ratio of 30.08, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The firm has a fifty day moving average price of $59.76 and a two-hundred day moving average price of $58.40. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.89 per share. The ex-dividend date is Monday, March 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a yield of 5.66%. W. P. Carey’s dividend payout ratio (DPR) is 170.33%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WPC. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and raised their target price for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Barclays raised their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. Wells Fargo & Company upped their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, Evercore ISI upped their price objective 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. One research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.75.

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.