DAVENPORT & Co LLC Has $6.57 Million Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

DAVENPORT & Co LLC increased its position in shares of W. P. Carey Inc. (NYSE:WPC) by 33.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,490 shares of the real estate investment trust’s stock after buying an additional 30,191 shares during the quarter. DAVENPORT & Co LLC owned 0.06% of W. P. Carey worth $6,565,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC acquired a new stake in W. P. Carey during the second quarter valued at approximately $4,043,000. Quarry LP boosted its holdings in shares of W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 357 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of W. P. Carey in the 2nd quarter worth approximately $1,990,000. Massmutual Trust Co. FSB ADV raised its position in W. P. Carey by 35.9% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 172 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in W. P. Carey by 48.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 65,200 shares of the real estate investment trust’s stock worth $4,062,000 after purchasing an additional 21,400 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WPC has been the subject of several research analyst reports. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. Barclays reiterated an “underweight” rating and set a $59.00 target price (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. Scotiabank lowered their price objective on shares of 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, UBS Group lowered their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $62.43.

W. P. Carey Stock Down 0.9 %

Shares of WPC stock opened at $55.38 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50-day moving average is $55.40 and its 200-day moving average is $57.74. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 1.01 and a beta of 0.97. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $64.26.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.88 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio is currently 138.58%.

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.