W. P. Carey Inc. (NYSE:WPC) Shares Sold by Naviter Wealth LLC

Naviter Wealth LLC trimmed its position in W. P. Carey Inc. (NYSE:WPC) by 29.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,834 shares of the real estate investment trust’s stock after selling 6,487 shares during the period. Naviter Wealth LLC’s holdings in W. P. Carey were worth $877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. National Pension Service acquired a new position in shares of W. P. Carey in the fourth quarter valued at about $25,000. Wingate Wealth Advisors Inc. purchased a new stake in W. P. Carey in the fourth quarter valued at approximately $37,000. RPg Family Wealth Advisory LLC acquired a new position in W. P. Carey in the 3rd quarter worth approximately $44,000. Plato Investment Management Ltd purchased a new position in W. P. Carey during the 4th quarter worth approximately $48,000. Finally, Roxbury Financial LLC purchased a new position in W. P. Carey during the 4th quarter worth approximately $58,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WPC. Evercore ISI increased their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price target for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Royal Bank of Canada lifted their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, Barclays lifted 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $64.74 on Friday. The firm has a market cap of $14.17 billion, a PE ratio of 30.98, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $65.45. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The business has a 50-day moving average price of $57.75 and a 200 day moving average price of $58.20.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.44%. W. P. Carey’s payout ratio is 168.42%.

W. P. Carey Company 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.