LPL Financial LLC Reduces Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

LPL Financial LLC reduced its stake in W. P. Carey Inc. (NYSE:WPC - Free Report) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 699,961 shares of the real estate investment trust's stock after selling 27,335 shares during the quarter. LPL Financial LLC owned about 0.32% of W. P. Carey worth $38,134,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in W. P. Carey by 660.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust's stock valued at $127,969,000 after purchasing an additional 1,784,131 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of W. P. Carey during the fourth quarter valued at approximately $31,442,000. FMR LLC boosted its position in W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust's stock worth $50,219,000 after acquiring an additional 409,593 shares during the last quarter. Equity Investment Corp grew its stake in W. P. Carey by 26.3% in the 4th quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust's stock worth $101,918,000 after acquiring an additional 389,107 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in W. P. Carey by 21.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust's stock valued at $94,325,000 after acquiring an additional 264,230 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

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W. P. Carey Trading Down 0.1 %

Shares of NYSE WPC traded down $0.04 during midday trading on Wednesday, hitting $62.99. The stock had a trading volume of 168,741 shares, compared to its average volume of 1,164,889. The company has a fifty day moving average price of $60.31 and a 200 day moving average price of $58.39. The company has a market capitalization of $13.79 billion, a price-to-earnings ratio of 30.11, a PEG ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 5.65%. 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 dividend payout ratio is 170.33%.

Wall Street Analyst Weigh In

WPC has been the topic of several analyst reports. BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. 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. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Evercore ISI increased their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada raised their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.