Perennial Investment Advisors LLC Sells 1,217 Shares of W. P. Carey Inc. (NYSE:WPC)

Perennial Investment Advisors LLC cut its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 17.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,642 shares of the real estate investment trust’s stock after selling 1,217 shares during the quarter. Perennial Investment Advisors LLC’s holdings in W. P. Carey were worth $307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WPC. National Pension Service purchased a new position in W. P. Carey during the fourth quarter valued at approximately $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of W. P. Carey during the 4th quarter valued at $37,000. Millstone Evans Group LLC bought a new position in W. P. Carey in the 4th quarter worth $37,000. Plato Investment Management Ltd purchased a new stake in W. P. Carey in the 4th quarter worth $48,000. Finally, Hoey Investments Inc. bought a new stake in W. P. Carey during the fourth quarter valued at about $48,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Trading Down 3.8 %

WPC opened at $59.08 on Monday. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock has a 50-day moving average of $60.66 and a 200 day moving average of $58.33. The firm has a market cap of $12.94 billion, a P/E ratio of 28.27, a P/E/G ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 6.03%. The ex-dividend date is Monday, March 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 presently 170.33%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on WPC shares. Barclays upped their price objective on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. Wells Fargo & Company increased their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Royal Bank of Canada raised their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price target 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 given a buy rating to the company. Based on data from MarketBeat.com, the company 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.