W. P. Carey Inc. (NYSE:WPC) Position Lowered by Main Street Financial Solutions LLC

Main Street Financial Solutions LLC reduced its position in W. P. Carey Inc. (NYSE:WPC) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,201 shares of the real estate investment trust’s stock after selling 600 shares during the quarter. Main Street Financial Solutions LLC’s holdings in W. P. Carey were worth $283,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WPC. National Pension Service bought a new stake in shares of W. P. Carey in the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new stake in W. P. Carey during the fourth quarter valued at $37,000. Wingate Wealth Advisors Inc. bought a new position in shares of W. P. Carey in the 4th quarter worth about $37,000. Bessemer Group Inc. boosted its holdings in shares of W. P. Carey by 118.6% in the 4th 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 during the period. Finally, Plato Investment Management Ltd acquired a new stake in W. P. Carey during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of research reports. Royal Bank of Canada increased their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Wells Fargo & Company raised their target price on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday, March 10th. Scotiabank upped their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, Evercore ISI boosted their target price on shares of 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 assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $63.75.

W. P. Carey Stock Performance

WPC stock opened at $62.18 on Friday. The company has a 50-day simple moving average of $61.28 and a 200 day simple moving average of $58.10. The company has a market capitalization of $13.62 billion, a P/E ratio of 29.75, a PEG ratio of 1.06 and a beta of 0.81. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.89 dividend. The ex-dividend date was Monday, March 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.73%. W. P. Carey’s dividend payout ratio (DPR) is 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.