W. P. Carey Inc. (NYSE:WPC) Short Interest Update

by · The Markets Daily

W. P. Carey Inc. (NYSE:WPC – Get Free Report) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 4,640,000 shares, a growth of 25.1% from the March 15th total of 3,710,000 shares. Based on an average daily trading volume, of 1,300,000 shares, the short-interest ratio is presently 3.6 days. Currently, 2.1% of the company’s stock are sold short.

Hedge Funds Weigh In On W. P. Carey

A number of large investors have recently made changes to their positions in WPC. National Pension Service purchased a new position in W. P. Carey during the 4th quarter valued at about $25,000. Millstone Evans Group LLC bought a new position in shares of W. P. Carey in the fourth quarter valued at approximately $37,000. Wingate Wealth Advisors Inc. bought a new stake in W. P. Carey during the 4th quarter worth approximately $37,000. Bessemer Group Inc. lifted its stake in W. P. Carey by 118.6% in the 4th quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 402 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in W. P. Carey in the 4th quarter valued at $44,000. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Performance

NYSE WPC traded up $0.90 on Friday, hitting $62.18. 771,315 shares of the stock traded hands, compared to its average volume of 1,182,416. The firm has a market capitalization of $13.62 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 1.06 and a beta of 0.81. The business’s fifty day moving average is $61.40 and its two-hundred day moving average is $58.09. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey has a 12 month low of $52.91 and a 12 month high of $66.10.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.89 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.73%. The ex-dividend date of this dividend was Monday, March 31st. W. P. Carey’s dividend payout ratio is presently 170.33%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WPC. Scotiabank raised their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. Royal Bank of Canada increased their price target on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Barclays upped their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, Wells Fargo & Company increased their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $63.75.

Check Out Our Latest Report on W. P. Carey

W. P. Carey Company Profile

(Get 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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