Arete Wealth Advisors LLC Sells 676 Shares of W. P. Carey Inc. (NYSE:WPC)

Arete Wealth Advisors LLC trimmed its position in W. P. Carey Inc. (NYSE:WPC) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,428 shares of the real estate investment trust’s stock after selling 676 shares during the quarter. Arete Wealth Advisors LLC’s holdings in W. P. Carey were worth $945,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in W. P. Carey by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust’s stock valued at $1,679,110,000 after buying an additional 242,576 shares during the period. Geode Capital Management LLC increased its holdings in shares of W. P. Carey by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust’s stock worth $256,201,000 after acquiring an additional 135,090 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in W. P. Carey by 29.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,022,953 shares of the real estate investment trust’s stock valued at $219,170,000 after acquiring an additional 906,622 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in W. P. Carey by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust’s stock valued at $143,926,000 after purchasing an additional 43,197 shares during the last quarter. Finally, Norges Bank bought a new position in W. P. Carey during the fourth quarter worth $139,381,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Down 3.8 %

Shares of NYSE:WPC opened at $59.08 on Friday. The business’s 50 day simple moving average is $60.66 and its 200 day simple moving average is $58.40. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $12.93 billion, a P/E ratio of 28.27, a P/E/G ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.89 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 6.03%. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s dividend payout ratio is 170.33%.

Analyst Ratings Changes

A number of research firms have recently issued reports on WPC. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Royal Bank of Canada boosted their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. 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 research note on Wednesday, February 19th. Finally, Barclays boosted their price target on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.75.

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.