Boston Financial Mangement LLC Sells 1,370 Shares of W. P. Carey Inc. (NYSE:WPC)

Boston Financial Mangement LLC cut its position in shares of W. P. Carey Inc. (NYSE:WPC) by 21.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,000 shares of the real estate investment trust’s stock after selling 1,370 shares during the period. Boston Financial Mangement LLC’s holdings in W. P. Carey were worth $272,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its position in 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 during the period. Charles Schwab Investment Management Inc. grew its position in W. P. Carey by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after acquiring an additional 103,147 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 acquiring an additional 1,784,131 shares during the period. JPMorgan Chase & Co. grew its position 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 acquiring an additional 264,230 shares during the period. Finally, Equity Investment Corp grew its position in W. P. Carey by 0.7% in the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after acquiring an additional 9,610 shares during the period. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Trading Up 1.2 %

Shares of WPC opened at $61.17 on Friday. 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 12-month low of $52.91 and a 12-month high of $64.26. The firm has a market capitalization of $13.39 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. The stock’s fifty day simple moving average is $55.78 and its 200-day simple moving average is $57.64.

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 paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 5.75%. The ex-dividend date was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is 168.42%.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of analyst reports. Royal Bank of Canada upped their price target on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Barclays decreased their target price on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $60.00 to $67.00 in a report on Tuesday. Finally, Evercore ISI increased their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.38.

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.