Sabal Trust CO Makes New Investment in W. P. Carey Inc. (NYSE:WPC)

Sabal Trust CO bought a new stake in W. P. Carey Inc. (NYSE:WPC) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,922 shares of the real estate investment trust’s stock, valued at approximately $1,031,000.

Other hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 during the period. Victory Capital Management Inc. raised its holdings in shares of W. P. Carey by 649.4% during the third quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock worth $34,507,000 after acquiring an additional 479,973 shares in the last quarter. FMR LLC grew its stake in W. P. Carey by 103.3% in the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after purchasing an additional 409,593 shares in the last quarter. International Assets Investment Management LLC increased its position in W. P. Carey by 6,145.1% in the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after purchasing an additional 400,782 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of W. P. Carey by 274.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 405,808 shares of the real estate investment trust’s stock worth $25,282,000 after purchasing an additional 297,432 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $64.31 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average price of $56.15 and a 200 day moving average price of $57.79. The company has a market cap of $14.07 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 1.06 and a beta of 0.97. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.63.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 5.47%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 168.42%.

Analyst Upgrades and Downgrades

WPC has been the subject of several recent research reports. Barclays lowered their price target on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. UBS Group dropped their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Royal Bank of Canada lifted their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, Evercore ISI raised their target price on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.38.

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.