Commonwealth Equity Services LLC Trims Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Commonwealth Equity Services LLC trimmed its position in W. P. Carey Inc. (NYSE:WPC) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,066,496 shares of the real estate investment trust’s stock after selling 83,968 shares during the quarter. Commonwealth Equity Services LLC owned about 0.49% of W. P. Carey worth $58,103,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. National Pension Service bought a new position in shares of W. P. Carey in the fourth quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey in the 4th quarter worth $37,000. RPg Family Wealth Advisory LLC bought a new position in W. P. Carey in the 3rd quarter worth $44,000. Plato Investment Management Ltd purchased a new stake in W. P. Carey in the 4th quarter worth $48,000. Finally, Roxbury Financial LLC bought a new stake in W. P. Carey during the fourth quarter valued at about $58,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Scotiabank lifted their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research report on Wednesday. Evercore ISI boosted their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Barclays raised their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company boosted their price target 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. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and an average price target of $63.75.

W. P. Carey Stock Performance

Shares of NYSE:WPC opened at $61.60 on Friday. The firm has a fifty day simple moving average of $58.27 and a two-hundred day simple moving average of $58.28. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. 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 stock has a market capitalization of $13.48 billion, a P/E ratio of 29.47, a PEG ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.89 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a yield of 5.78%. W. P. Carey’s payout ratio is presently 168.42%.

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.