Balyasny Asset Management L.P. Cuts Holdings in W. P. Carey Inc. (NYSE:WPC)

Balyasny Asset Management L.P. lessened its stake in W. P. Carey Inc. (NYSE:WPCFree Report) by 21.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,018,853 shares of the real estate investment trust’s stock after selling 281,312 shares during the quarter. Balyasny Asset Management L.P. owned 0.47% of W. P. Carey worth $66,032,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. First United Bank & Trust purchased a new stake in shares of W. P. Carey during the 4th quarter worth $27,000. Central Bank & Trust Co. purchased a new position in shares of W. P. Carey in the 4th quarter valued at about $28,000. FNY Investment Advisers LLC acquired a new position in W. P. Carey in the fourth quarter valued at approximately $32,000. EdgeRock Capital LLC purchased a new position in W. P. Carey in the fourth quarter valued at approximately $32,000. Finally, Tidemark LLC acquired a new stake in W. P. Carey during the fourth quarter worth approximately $42,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Trading Down 0.3 %

Shares of NYSE WPC opened at $56.04 on Tuesday. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $73.38. The company has a market cap of $12.26 billion, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.05 and a beta of 0.91. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.87. The stock’s 50 day simple moving average is $56.60 and its 200 day simple moving average is $59.44.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.865 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 annualized dividend and a yield of 6.17%. W. P. Carey’s dividend payout ratio is 131.56%.

Analyst Upgrades and Downgrades

WPC has been the topic of several analyst reports. Royal Bank of Canada lowered their target price on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Barclays assumed coverage on W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 target price on the stock. Wells Fargo & Company dropped their target price on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. Scotiabank raised their price objective on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Finally, UBS Group assumed coverage on W. P. Carey in a report on Friday, May 31st. They set a “neutral” rating and a $57.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $62.58.

Read Our Latest Stock Analysis on WPC

About W. P. Carey

(Free Report)

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.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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