Naviter Wealth LLC Cuts Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Naviter Wealth LLC lowered its position in shares of W. P. Carey Inc. (NYSE:WPC) by 29.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 15,834 shares of the real estate investment trust’s stock after selling 6,487 shares during the quarter. Naviter Wealth LLC’s holdings in W. P. Carey were worth $877,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. RFG Advisory LLC lifted its holdings in W. P. Carey by 91.7% in the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after purchasing an additional 3,049 shares in the last quarter. Equity Investment Corp raised its position in shares of 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 buying an additional 9,610 shares during the last quarter. Stifel Financial Corp lifted its stake in shares of W. P. Carey by 7.0% in the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after buying an additional 2,075 shares in the last quarter. FMR LLC lifted its stake in W. P. Carey by 103.3% in the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after purchasing an additional 409,593 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of W. P. Carey during the 3rd quarter worth approximately $1,267,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC stock opened at $64.74 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. The firm has a market cap of $14.17 billion, a P/E ratio of 30.98, a P/E/G ratio of 1.06 and a beta of 0.95. The firm’s 50 day moving average price is $57.75 and its 200-day moving average price is $58.20. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $65.45.

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 given a dividend of $0.88 per share. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 5.44%. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is currently 168.42%.

Analyst Ratings Changes

Several research firms recently commented on WPC. Scotiabank cut their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. Royal Bank of Canada lifted their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Barclays boosted their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. Evercore ISI boosted their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, BMO Capital Markets upgraded shares of 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. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $62.88.

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.