Securian Asset Management Inc. Sells 473 Shares of W. P. Carey Inc. (NYSE:WPC)

Securian Asset Management Inc. trimmed its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,544 shares of the real estate investment trust’s stock after selling 473 shares during the quarter. Securian Asset Management Inc.’s holdings in W. P. Carey were worth $901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC boosted its holdings in W. P. Carey by 71.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,605 shares of the real estate investment trust’s stock valued at $142,000 after purchasing an additional 1,085 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in W. P. Carey by 2.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 24,247 shares of the real estate investment trust’s stock valued at $1,321,000 after purchasing an additional 570 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in W. P. Carey by 1.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 149,009 shares of the real estate investment trust’s stock valued at $8,118,000 after purchasing an additional 2,109 shares in the last quarter. HighTower Advisors LLC boosted its holdings in W. P. Carey by 0.4% during the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock valued at $2,418,000 after purchasing an additional 193 shares in the last quarter. Finally, Independent Advisor Alliance boosted its holdings in W. P. Carey by 15.4% during the fourth quarter. Independent Advisor Alliance now owns 10,337 shares of the real estate investment trust’s stock valued at $563,000 after purchasing an additional 1,381 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Up 1.6 %

NYSE:WPC opened at $62.64 on Friday. The stock’s fifty day moving average price is $58.57 and its two-hundred day moving average price is $58.31. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week 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. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 29.97, a P/E/G ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.89 per share. This is an increase 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 5.68%. W. P. Carey’s dividend payout ratio is currently 168.42%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WPC shares. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Barclays boosted their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. Royal Bank of Canada boosted their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Finally, Evercore ISI boosted their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.