Berkshire Asset Management LLC PA trimmed its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 322,771 shares of the real estate investment trust's stock after selling 9,212 shares during the quarter. Berkshire Asset Management LLC PA owned 0.15% of W. P. Carey worth $17,836,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of WPC. Farther Finance Advisors LLC boosted its stake in W. P. Carey by 122.9% during the third quarter. Farther Finance Advisors LLC now owns 1,520 shares of the real estate investment trust's stock worth $95,000 after buying an additional 838 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of W. P. Carey during the third quarter valued at $9,086,000. Van ECK Associates Corp boosted its stake in shares of W. P. Carey by 11.8% during the third quarter. Van ECK Associates Corp now owns 98,733 shares of the real estate investment trust's stock valued at $5,828,000 after purchasing an additional 10,409 shares during the period. NorthRock Partners LLC purchased a new stake in shares of W. P. Carey during the third quarter valued at $223,000. Finally, Maia Wealth LLC purchased a new stake in shares of W. P. Carey during the third quarter valued at $40,000. 73.73% of the stock is owned by hedge funds and other institutional investors.
W. P. Carey Stock Up 1.2 %
W. P. Carey stock traded up $0.78 during trading hours on Friday, reaching $64.74. The stock had a trading volume of 1,410,553 shares, compared to its average volume of 1,108,819. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 1.06 and a beta of 0.95. 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 business'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 52 week low of $52.91 and a 52 week high of $65.45.
W. P. Carey Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a yield of 5.44%. W. P. Carey's payout ratio is currently 168.42%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on WPC. Royal Bank of Canada boosted 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. Evercore ISI lifted their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Scotiabank decreased their price objective 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. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and lifted their price objective for the company 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 assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $62.88.
Check Out Our Latest Analysis on W. P. Carey
W. P. Carey Company Profile
(
Free Report)
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.
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