Belpointe Asset Management LLC Sells 2,065 Shares of W. P. Carey Inc. (NYSE:WPC)

Belpointe Asset Management LLC decreased its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 9.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,943 shares of the real estate investment trust’s stock after selling 2,065 shares during the quarter. Belpointe Asset Management LLC’s holdings in W. P. Carey were worth $1,137,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. National Pension Service bought a new stake in W. P. Carey in the fourth quarter valued at about $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of W. P. Carey during the 4th quarter worth about $37,000. Millstone Evans Group LLC bought a new stake in shares of W. P. Carey in the 4th quarter valued at about $37,000. Bessemer Group Inc. raised its position in shares of 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 valued at $40,000 after acquiring an additional 402 shares during the period. Finally, Plato Investment Management Ltd bought a new position in W. P. Carey during the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Up 3.4 %

NYSE:WPC opened at $59.83 on Tuesday. The company has a market cap of $13.10 billion, a PE ratio of 28.63, a PEG ratio of 1.06 and a beta of 0.81. The stock has a 50-day simple moving average of $60.96 and a 200 day simple moving average of $58.06. 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 Inc. has a 52-week low of $52.91 and a 52-week high of $66.10.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.89 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 5.95%. W. P. Carey’s dividend payout ratio is presently 170.33%.

Analyst Ratings Changes

WPC has been the subject of several recent analyst reports. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their target price for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. Scotiabank raised their price objective on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. Evercore ISI boosted their target price on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Finally, Barclays boosted their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.75.

About W. P. Carey

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.