W. P. Carey Inc. (NYSE:WPC) Stake Lessened by Mariner LLC

Mariner LLC trimmed its position in W. P. Carey Inc. (NYSE:WPC) by 11.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,398 shares of the real estate investment trust’s stock after selling 9,154 shares during the period. Mariner LLC’s holdings in W. P. Carey were worth $3,726,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WPC. National Pension Service acquired a new position in W. P. Carey during the fourth quarter worth about $25,000. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey during the fourth quarter valued at approximately $37,000. Millstone Evans Group LLC acquired a new position in W. P. Carey in the fourth quarter worth approximately $37,000. Bessemer Group Inc. increased its holdings in shares of W. P. Carey by 118.6% in the fourth quarter. Bessemer Group Inc. now owns 741 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 402 shares in the last quarter. Finally, Plato Investment Management Ltd bought a new stake in shares of W. P. Carey during the 4th quarter worth $48,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WPC has been the subject of a number of recent analyst reports. Barclays increased their price target 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. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Wells Fargo & Company increased their target price on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. Scotiabank lifted their price target on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. Finally, Royal Bank of Canada increased 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, W. P. Carey presently has an average rating of “Hold” and an average target price of $63.75.

W. P. Carey Price Performance

WPC opened at $61.37 on Tuesday. The stock has a fifty day moving average price of $61.48 and a 200 day moving average price 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 stock 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 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 5.80%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Monday, March 31st. W. P. Carey’s payout ratio is currently 170.33%.

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.