Family Legacy Inc. Sells 1,491 Shares of W. P. Carey Inc. (NYSE:WPC)

Family Legacy Inc. cut its holdings in W. P. Carey Inc. (NYSE:WPC) by 23.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,959 shares of the real estate investment trust’s stock after selling 1,491 shares during the period. Family Legacy Inc.’s holdings in W. P. Carey were worth $272,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. National Pension Service purchased a new stake in W. P. Carey in the fourth quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new stake in W. P. Carey in the 4th quarter worth approximately $37,000. Millstone Evans Group LLC bought a new stake in W. P. Carey during the 4th quarter worth approximately $37,000. Plato Investment Management Ltd purchased a new position in W. P. Carey during the fourth quarter valued at approximately $48,000. Finally, Hoey Investments Inc. bought a new position in shares of W. P. Carey in the fourth quarter worth approximately $48,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on WPC shares. Scotiabank upped their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Royal Bank of Canada raised their price objective 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. Finally, Evercore ISI increased their price target on 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 investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Stock Up 0.4 %

Shares of WPC opened at $62.67 on Monday. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. 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 business has a fifty day moving average of $60.04 and a 200 day moving average of $58.38. The company has a market cap of $13.71 billion, a PE ratio of 29.98, a P/E/G ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 5.68%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is 170.33%.

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.