Wealthfront Advisers LLC Reduces Stake in W. P. Carey Inc. (NYSE:WPC)

Wealthfront Advisers LLC trimmed its stake in W. P. Carey Inc. (NYSE:WPC) by 58.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,341 shares of the real estate investment trust’s stock after selling 42,687 shares during the quarter. Wealthfront Advisers LLC’s holdings in W. P. Carey were worth $1,653,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on WPC shares. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Barclays lifted their target price on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Wells Fargo & Company increased 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 report on Monday, March 10th. Evercore ISI boosted their price objective 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. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. One equities research 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, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Trading Up 1.6 %

Shares of WPC stock opened at $62.64 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The company has a market capitalization of $13.71 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The business’s fifty day moving average is $58.41 and its 200 day moving average is $58.30.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date is Monday, March 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio 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.