SRS Capital Advisors Inc. Reduces Position in W. P. Carey Inc. (NYSE:WPC)

SRS Capital Advisors Inc. lessened its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 23.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,278 shares of the real estate investment trust’s stock after selling 3,482 shares during the quarter. SRS Capital Advisors Inc.’s holdings in W. P. Carey were worth $614,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. National Pension Service purchased a new position in shares of W. P. Carey during the fourth quarter valued at approximately $25,000. Maia Wealth LLC purchased a new stake in shares of W. P. Carey during the third quarter valued at $40,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of W. P. Carey during the fourth quarter valued at $37,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of W. P. Carey during the third quarter valued at $44,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of W. P. Carey by 70.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 341 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

WPC has been the subject of a number of recent analyst reports. 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. Scotiabank lowered their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. UBS Group lowered their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.38.

W. P. Carey Stock Up 0.7 %

W. P. Carey stock opened at $64.67 on Tuesday. The business has a fifty day moving average of $56.77 and a two-hundred day moving average of $57.96. 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 firm has a market cap of $14.15 billion, a P/E ratio of 30.94, a P/E/G ratio of 1.06 and a beta of 0.97. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.87.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.88 dividend. 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%. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is currently 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.