Achmea Investment Management B.V. Cuts Holdings in W. P. Carey Inc. (NYSE:WPC)

Achmea Investment Management B.V. decreased its holdings in W. P. Carey Inc. (NYSE:WPC) by 19.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 156,662 shares of the real estate investment trust’s stock after selling 37,064 shares during the period. Achmea Investment Management B.V.’s holdings in W. P. Carey were worth $8,535,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position 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 acquiring an additional 1,784,131 shares in the last quarter. Raymond James Financial Inc. bought a new position in W. P. Carey in the fourth quarter worth about $31,442,000. Victory Capital Management Inc. raised its holdings in W. P. Carey by 649.4% in 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 purchasing an additional 479,973 shares in the last quarter. FMR LLC lifted its position in shares of W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after buying an additional 409,593 shares during the last quarter. Finally, Equity Investment Corp boosted its holdings 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 valued at $101,918,000 after buying an additional 389,107 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC opened at $61.60 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50-day moving average of $58.27 and a two-hundred day moving average of $58.28. The stock has a market cap of $13.48 billion, a P/E ratio of 29.47, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a one year low of $52.91 and a one year 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 $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.78%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is currently 168.42%.

Wall Street Analyst Weigh In

Several research analysts recently commented on WPC shares. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Royal Bank of Canada upped their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Evercore ISI raised their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Wells Fargo & Company upped their target price on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Scotiabank raised their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently 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.