Advisory Services Network LLC Sells 729 Shares of W. P. Carey Inc. (NYSE:WPC)

Advisory Services Network LLC trimmed its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 6.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,226 shares of the real estate investment trust’s stock after selling 729 shares during the quarter. Advisory Services Network LLC’s holdings in W. P. Carey were worth $612,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WPC. Stifel Financial Corp boosted its position in W. P. Carey by 7.0% during the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after purchasing an additional 2,075 shares during the period. Wilmington Savings Fund Society FSB bought a new position in W. P. Carey in the 3rd quarter worth $262,000. Franklin Resources Inc. boosted its holdings in W. P. Carey by 20.4% during the third quarter. Franklin Resources Inc. now owns 165,184 shares of the real estate investment trust’s stock valued at $9,898,000 after acquiring an additional 28,022 shares during the period. JPMorgan Chase & Co. grew its position in shares of 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. Finally, Everence Capital Management Inc. bought a new position in shares of W. P. Carey in the fourth quarter worth about $286,000. 73.73% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Barclays increased their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Royal Bank of Canada boosted their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Wells Fargo & Company increased their target price on shares of 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. Finally, Scotiabank lifted their price objective on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, W. P. Carey presently has an average rating of “Hold” and an average target price of $63.75.

W. P. Carey Stock Performance

NYSE WPC opened at $60.57 on Wednesday. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 1.06 and a beta of 0.81. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The company has a 50 day moving average of $61.05 and a 200-day moving average of $58.08. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given 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 was Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 5.88%. W. P. Carey’s dividend payout ratio 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.