Corient Private Wealth LLC Trims Position in W. P. Carey Inc. (NYSE:WPC)

Corient Private Wealth LLC reduced its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 20.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,901 shares of the real estate investment trust's stock after selling 12,115 shares during the quarter. Corient Private Wealth LLC's holdings in W. P. Carey were worth $2,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. National Pension Service purchased a new stake in W. P. Carey in the 4th quarter worth about $25,000. Wingate Wealth Advisors Inc. purchased a new position in shares of W. P. Carey in the fourth quarter worth about $37,000. RPg Family Wealth Advisory LLC bought a new stake in shares of W. P. Carey in the third quarter valued at approximately $44,000. Plato Investment Management Ltd purchased a new stake in shares of W. P. Carey during the 4th quarter valued at approximately $48,000. Finally, Roxbury Financial LLC bought a new position in W. P. Carey in the 4th quarter worth approximately $58,000. 73.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WPC. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Evercore ISI boosted their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. Scotiabank lifted their target price on W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a report on Wednesday, March 12th. Barclays upped their price target on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company raised 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 report on Monday, March 10th. One equities research 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. Based on data from MarketBeat, W. P. Carey presently has an average rating of "Hold" and an average price target of $63.75.

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W. P. Carey Price Performance

NYSE:WPC traded down $0.46 during mid-day trading on Thursday, reaching $62.44. The stock had a trading volume of 892,683 shares, compared to its average volume of 1,114,038. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. 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 50 day moving average price of $59.76 and a two-hundred day moving average price of $58.40. The stock has a market capitalization of $13.66 billion, a P/E ratio of 29.87, a P/E/G ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 5.70%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey's dividend payout ratio is presently 170.33%.

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.