Meritage Portfolio Management Sells 5,745 Shares of W. P. Carey Inc. (NYSE:WPC)

Meritage Portfolio Management decreased its position in W. P. Carey Inc. (NYSE:WPC - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,323 shares of the real estate investment trust's stock after selling 5,745 shares during the quarter. Meritage Portfolio Management's holdings in W. P. Carey were worth $4,322,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WPC. Brown Lisle Cummings Inc. increased its stake in shares of W. P. Carey by 3.3% in the 4th quarter. Brown Lisle Cummings Inc. now owns 48,641 shares of the real estate investment trust's stock worth $2,650,000 after acquiring an additional 1,535 shares in the last quarter. Dupree Financial Group LLC grew its holdings in W. P. Carey by 2.0% in the fourth quarter. Dupree Financial Group LLC now owns 100,828 shares of the real estate investment trust's stock worth $5,493,000 after purchasing an additional 1,933 shares during the period. abrdn plc lifted its holdings in shares of W. P. Carey by 21.0% during the fourth quarter. abrdn plc now owns 124,229 shares of the real estate investment trust's stock valued at $6,783,000 after purchasing an additional 21,572 shares during the last quarter. Graham Capital Wealth Management LLC grew its stake in shares of W. P. Carey by 4.2% in the 4th quarter. Graham Capital Wealth Management LLC now owns 53,058 shares of the real estate investment trust's stock worth $2,891,000 after buying an additional 2,132 shares during the last quarter. Finally, KPP Advisory Services LLC raised its stake in W. P. Carey by 24.9% during the fourth quarter. KPP Advisory Services LLC now owns 4,804 shares of the real estate investment trust's stock valued at $262,000 after buying an additional 959 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 traded down $0.02 during trading hours on Friday, hitting $56.08. 639,070 shares of the company's stock traded hands, compared to its average volume of 849,474. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $64.26. The firm has a market capitalization of $12.27 billion, a P/E ratio of 22.08, a P/E/G ratio of 1.02 and a beta of 0.97. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The business's fifty day moving average price is $55.29 and its two-hundred day moving average price is $57.66.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 6.28%. 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. W. P. Carey's dividend payout ratio (DPR) is 138.58%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. UBS Group reduced their price target on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a report on Thursday, November 14th. Barclays reduced their price objective on shares of W. P. Carey from $59.00 to $56.00 and set an "underweight" rating for the company in a research note on Tuesday, February 4th. Scotiabank dropped their target price on shares of W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating on the stock in a research note on Thursday, January 16th. Finally, JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $62.00.

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.