United Capital Financial Advisors LLC Sells 837 Shares of W. P. Carey Inc. (NYSE:WPC)

United Capital Financial Advisors LLC lowered its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 15.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,482 shares of the real estate investment trust’s stock after selling 837 shares during the quarter. United Capital Financial Advisors LLC’s holdings in W. P. Carey were worth $244,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new position in W. P. Carey during the fourth quarter valued at $139,381,000. Massachusetts Financial Services Co. MA grew its position in shares of W. P. Carey by 29.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock valued at $219,170,000 after purchasing an additional 906,622 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of W. P. Carey in the fourth quarter worth about $31,442,000. Equity Investment Corp lifted its position in shares of W. P. Carey by 26.3% in the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock worth $101,918,000 after buying an additional 389,107 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in W. P. Carey by 21.1% during the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock valued at $94,325,000 after buying an additional 264,230 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

WPC has been the topic of a number of research reports. Royal Bank of Canada lifted their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Wells Fargo & Company lifted their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Evercore ISI upped their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. Finally, Barclays lifted their price target on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, W. P. Carey presently has an average rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Price Performance

NYSE:WPC opened at $61.37 on Tuesday. The firm’s fifty day moving average is $61.48 and its two-hundred day moving average is $58.08. The firm has a market cap of $13.44 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.06 and a beta of 0.81. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. 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 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.89 dividend. The ex-dividend date was Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.80%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is 170.33%.

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.