Samalin Investment Counsel LLC Sells 878 Shares of W. P. Carey Inc. (NYSE:WPC)

Samalin Investment Counsel LLC reduced its position in W. P. Carey Inc. (NYSE:WPC) by 6.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,297 shares of the real estate investment trust’s stock after selling 878 shares during the quarter. Samalin Investment Counsel LLC’s holdings in W. P. Carey were worth $670,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of W. P. Carey by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after acquiring an additional 127,477 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in W. P. Carey by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust’s stock valued at $143,926,000 after purchasing an additional 43,197 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in W. P. Carey by 660.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after purchasing an additional 1,784,131 shares during the last quarter. Equity Investment Corp grew its stake in W. P. Carey by 26.3% in the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock valued at $101,918,000 after purchasing an additional 389,107 shares during the last quarter. Finally, JPMorgan Chase & Co. grew 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 during the last quarter. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Price Performance

Shares of WPC stock opened at $61.62 on Friday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The firm has a market capitalization of $13.48 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 1.06 and a beta of 0.95. 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 stock’s 50-day simple moving average is $59.29 and its 200-day simple moving average is $58.38.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 5.78%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is 170.33%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Royal Bank of Canada lifted their target price 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. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Barclays lifted their target price on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. Scotiabank lifted their target price on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Finally, Evercore ISI lifted their target price on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.