Several major hedge funds have reduced their stake in shares of W. P. Carey Inc. (NYSE:WPC) by 3.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 57,085 shares of the real estate investment trust’s stock after selling 1,755 shares during the quarter. W. Carey accounts for approximately 2.1% of Creegan & Nassoura Financial Group LLC’s investment portfolio, making the stock its 16th biggest holding. Creegan & Nassoura Financial Group LLC’s holdings in W. Carey were worth $3,110,000 at the end of the most recent quarter.
Other Hedge Funds Take Similar Actions
Several other hedge funds have also recently made changes to their positions in W. Carey. Stifel Financial Corp increased its holdings in W. Carey by 10.6% in the fourth quarter. Stifel Financial Corp now owns 35,139 shares of the real estate investment trust’s stock worth $1,914,000 after buying an additional 3,355 shares during the period. Tower Research Capital LLC TRC grew its holdings in W. Tower Research Capital LLC TRC now owns 11,658 shares of the real estate investment trust’s stock worth $635,000 after acquiring an additional 1,091 shares during the period. Transce3nd LLC purchased a new position in shares of W. Carey during the fourth quarter valued at approximately $92,000. MML Investors Services LLC raised its position in shares of W. MML Investors Services LLC now owns 148,515 shares of the real estate investment trust’s stock worth $8,091,000 after acquiring an additional 21,159 shares during the period. Finally, MetLife Investment Management LLC grew its position in shares of W. Carey by 8.4% during the fourth quarter. MetLife Investment Management LLC now owns 129,754 shares of the real estate investment trust’s stock valued at $7,069,000 after acquiring an additional 10,039 shares during the period.
Insider Buying Activity
73.73% of the stock is owned by institutional investors and hedge funds. This suggests that the majority of investors have a high level of confidence in the company and are willing to invest heavily in it.
Analyst Ratings and Forecasts
Analysts have recently set new price targets for W. JMP Securities reiterated a “market perform” rating on shares of W. Carey in a research report on Thursday, February 13th. Wells Fargo & Company raised their target price on W. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. BMO Capital Markets raised shares of W. Carey from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Evercore ISI increased their price target on W. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, Barclays boosted their price objective on W. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. One 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.75.
W. Carey Stock Performance
Shares of W. Carey stock opened at $62.18 on Monday. 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 stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 29.75, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. The business has a 50-day moving average of $61.40 and a 200 day moving average of $58.07. has a 12 month low of $52.91 and a 12 month high of $66.10.
Dividend and Yield
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.89 dividend. The ex-dividend date of this dividend was Monday, March 31st. This is a positive change from W. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a yield of 5.73%. Carey’s dividend payout ratio (DPR) is 170.33%. Carey
W. 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.
Market Reaction to Recent News
The stock has been the topic of several recent analyst reports. With a 60%+ upside, there’s plenty to love about Lovesac. This is just one example of a stock that analysts are bullish on.
Carefully Review Your Investment Choices
Before making any investment decisions, it’s essential to carefully review your investment choices and consider multiple perspectives. This is especially true in a crowded and competitive market like the one we’re in today. Always do your own research and consult with a financial advisor before investing in any stock.
Recommended Stocks
Five stocks we like better than W. Carey include:
- Applied Digital
- Alcoa
- Lovesac
- Transce3nd LLC
- MML Investors Services LLC
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| Company | Position | Shares Owned | Value of Shares Owned |
|---|---|---|---|
| Creegan & Nassoura Financial Group LLC | Reduced Stake | 57,085 | $3,110,000 |
| Stifel Financial Corp | Increased Stake | 35,139 | $1,914,000 |
| Tower Research Capital LLC TRC | Increased Stake | 11,658 | $635,000 |
| Transce3nd LLC | Purchased New Position | N/A | $92,000 |
| MML Investors Services LLC | Increased Stake | 148,515 | $8,091,000 |
| MetLife Investment Management LLC | Increased Stake | 129,754 | $7,069,000 |
Analyst Ratings and Forecasts
JMP Securities reiterated a “market perform” rating on shares of W.
Investor Insights
Carefully review your investment choices and consider multiple perspectives.
Recommended Stocks
Five stocks we like better than W. Carey include:
- Applied Digital
- Alcoa
- Lovesac
- Transce3nd LLC
- MML Investors Services LLC
Investor Spotlight
W. Carey has been the topic of several recent analyst reports. Other stocks that have been highlighted include Applied Digital and Alcoa.
Investor Community
Want to see what other hedge funds are holding WPC?
About HoldingsChannel.com
HoldingsChannel.com is a platform that provides real-time information on 13F holdings and insider trades of public companies. The website allows users to track the holdings and trades of institutional investors and hedge funds, providing valuable insights into market trends and investment strategies.
Conclusion
Major hedge funds have reduced their stake in W. (WPC) by 3.0% in the fourth quarter. The stock has been the topic of several recent analyst reports and has been highlighted by several analysts as a potential buy. With a 60%+ upside, there’s plenty to love about W. Carefully review your investment choices and consider multiple perspectives before making any investment decisions.
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