Advisory Services Network LLC Sells 729 Shares of W. P. Carey Inc. (NYSE:WPC)

Advisory Services Network LLC reduced its stake in W. P. Carey Inc. (NYSE:WPC) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,226 shares of the real estate investment trust’s stock after selling 729 shares during the period. Advisory Services Network LLC’s holdings in W. P. Carey were worth $612,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Stifel Financial Corp boosted its holdings in W. P. Carey by 7.0% during the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after buying an additional 2,075 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in W. P. Carey during the 3rd quarter worth approximately $262,000. Franklin Resources Inc. grew its holdings in W. P. Carey by 20.4% during the third quarter. Franklin Resources Inc. now owns 165,184 shares of the real estate investment trust’s stock valued at $9,898,000 after purchasing an additional 28,022 shares during the period. JPMorgan Chase & Co. increased its stake in W. P. Carey by 21.1% in 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 purchasing an additional 264,230 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in W. P. Carey in the fourth quarter worth $286,000. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Up 1.2 %

W. P. Carey stock opened at $60.57 on Wednesday. The company has a fifty day simple moving average of $61.05 and a 200 day simple moving average of $58.08. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The company has a market cap of $13.26 billion, a P/E ratio of 28.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 5.88%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 170.33%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on WPC. Barclays boosted their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Scotiabank raised their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Wells Fargo & Company boosted their price objective on W. P. 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 upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Finally, Royal Bank of Canada upped their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. One 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. According to MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Profile

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.