State of Alaska Department of Revenue Sells 7,411 Shares of W. P. Carey Inc. (NYSE:WPC)

State of Alaska Department of Revenue lowered its holdings in W. P. Carey Inc. (NYSE:WPC) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 161,496 shares of the real estate investment trust’s stock after selling 7,411 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.07% of W. P. Carey worth $9,114,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Raleigh Capital Management Inc. raised its holdings in shares of W. P. Carey by 3.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 191 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of W. P. Carey by 1.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust’s stock worth $1,097,000 after acquiring an additional 191 shares in the last quarter. Gradient Capital Advisors LLC lifted its position in W. P. Carey by 0.6% during the fourth quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust’s stock valued at $2,215,000 after acquiring an additional 199 shares during the last quarter. Fisher Asset Management LLC lifted its position in W. P. Carey by 3.2% during the fourth quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock valued at $441,000 after acquiring an additional 209 shares during the last quarter. Finally, Quent Capital LLC lifted its position in W. P. Carey by 32.0% during the fourth quarter. Quent Capital LLC now owns 969 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 235 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WPC shares. Scotiabank increased their target price on shares of W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Wells Fargo & Company decreased their target price on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. UBS Group started coverage on shares of W. P. Carey in a research report on Friday, May 31st. They set a “neutral” rating and a $57.00 target price for the company. Barclays started coverage on shares of W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price for the company. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $59.70.

W. P. Carey Stock Performance

Shares of NYSE:WPC traded down $0.11 during midday trading on Wednesday, reaching $54.91. The company’s stock had a trading volume of 587,452 shares, compared to its average volume of 1,324,385. The firm has a market capitalization of $12.02 billion, a PE ratio of 20.87, a P/E/G ratio of 1.02 and a beta of 0.93. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $73.38. The stock has a fifty day moving average of $56.63 and a 200 day moving average of $58.58. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.87 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.34%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio is presently 132.32%.

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.