Colonial Trust Advisors Trims Stock Position in W. P. Carey Inc. (NYSE:WPC)

Colonial Trust Advisors reduced its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 18.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,253 shares of the real estate investment trust's stock after selling 4,926 shares during the period. Colonial Trust Advisors' holdings in W. P. Carey were worth $1,212,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in WPC. RFG Advisory LLC increased its holdings in shares of W. P. Carey by 91.7% in the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust's stock worth $347,000 after purchasing an additional 3,049 shares during the period. Stifel Financial Corp lifted its stake in 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 purchasing an additional 2,075 shares during the last quarter. Sei Investments Co. boosted its holdings in W. P. Carey by 17.1% during the 4th quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust's stock valued at $3,056,000 after acquiring an additional 8,197 shares during the period. Signet Financial Management LLC purchased a new position in shares of W. P. Carey in the fourth quarter worth $1,942,000. Finally, Diversified Trust Co purchased a new stake in shares of W. P. Carey during the fourth quarter worth about $534,000. Hedge funds and other institutional investors own 73.73% of the company's stock.

W. P. Carey Trading Up 1.0 %

WPC stock traded up $0.61 during midday trading on Tuesday, reaching $60.45. 606,487 shares of the company traded hands, compared to its average volume of 1,182,626. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of 28.92, a P/E/G ratio of 1.06 and a beta of 0.81. 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 business has a 50 day moving average of $60.96 and a 200-day moving average of $58.06.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.89 dividend. This represents a $3.56 annualized dividend and a yield of 5.89%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. W. P. Carey's payout ratio is 170.33%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Royal Bank of Canada lifted 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. Wells Fargo & Company raised their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. Evercore ISI increased their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 19th. Finally, Scotiabank upped their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $63.75.

W. P. Carey Company 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.