Foundry Partners LLC Decreases Holdings in W. P. Carey Inc. (NYSE:WPC)

Foundry Partners LLC decreased its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,380 shares of the real estate investment trust's stock after selling 31,799 shares during the period. Foundry Partners LLC owned 0.10% of W. P. Carey worth $11,462,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. RFG Advisory LLC lifted its stake in shares of W. P. Carey by 91.7% in the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust's stock valued at $347,000 after purchasing an additional 3,049 shares during the last quarter. Stifel Financial Corp lifted its position 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 buying an additional 2,075 shares during the last quarter. FMR LLC lifted its position in W. P. Carey by 103.3% in the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust's stock worth $50,219,000 after buying an additional 409,593 shares during the last quarter. Sei Investments Co. increased its position in W. P. Carey by 17.1% during the fourth 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 last quarter. Finally, Signet Financial Management LLC purchased a new stake in shares of W. P. Carey in the fourth quarter valued at $1,942,000. Hedge funds and other institutional investors own 73.73% of the company's stock.

Analyst Upgrades and Downgrades

WPC has been the topic of several analyst reports. Royal Bank of Canada upped their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Barclays upped their target price on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, March 4th. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Evercore ISI upped their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. Finally, JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. 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 company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $63.75.

W. P. Carey Stock Down 0.5 %

NYSE:WPC traded down $0.30 during mid-day trading on Wednesday, reaching $55.83. The company's stock had a trading volume of 504,244 shares, compared to its average volume of 1,180,632. 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 Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The stock has a fifty day moving average of $60.70 and a 200-day moving average of $58.23. The firm has a market capitalization of $12.22 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 6.38%. 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 (DPR) is presently 170.33%.

About W. P. Carey

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.