W. P. Carey Inc. (NYSE:WPC) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its position in W. P. Carey Inc. (NYSE:WPC) by 3.8% during the 4th quarter, Holdings Channel reports. The fund owned 6,227 shares of the real estate investment trust’s stock after selling 247 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in W. P. Carey were worth $339,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its holdings in shares of W. P. Carey by 0.4% in the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock valued at $2,418,000 after purchasing an additional 193 shares in the last quarter. Capital Investment Advisory Services LLC lifted its holdings in W. P. Carey by 3.1% during the 4th quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock worth $474,000 after buying an additional 259 shares during the last quarter. Empowered Funds LLC lifted its holdings in W. P. Carey by 7.7% during the 4th quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock worth $206,000 after buying an additional 271 shares during the last quarter. Cooper Financial Group boosted its position in shares of W. P. Carey by 2.4% during the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock worth $649,000 after acquiring an additional 276 shares in the last quarter. Finally, Impact Partnership Wealth LLC increased its holdings in shares of W. P. Carey by 3.6% in the 4th quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust’s stock valued at $452,000 after acquiring an additional 289 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

NYSE WPC opened at $62.67 on Friday. The business’s 50-day moving average price is $60.04 and its 200 day moving average price is $58.41. 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 firm has a market cap of $13.71 billion, a P/E ratio of 29.98, a P/E/G ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10.

W. P. Carey Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WPC. Evercore ISI boosted 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. Royal Bank of Canada upped their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and increased their target price for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Wells Fargo & Company upped 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 research note on Monday, March 10th. Finally, Barclays boosted their target price on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.