Wealthfront Advisers LLC Cuts Stake in W. P. Carey Inc. (NYSE:WPC)

Wealthfront Advisers LLC decreased its holdings in W. P. Carey Inc. (NYSE:WPC - Free Report) by 58.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,341 shares of the real estate investment trust's stock after selling 42,687 shares during the period. Wealthfront Advisers LLC's holdings in W. P. Carey were worth $1,653,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WPC. National Pension Service purchased a new position in shares of W. P. Carey in the fourth 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 purchased a new position in shares of W. P. Carey in the third quarter worth about $44,000. Plato Investment Management Ltd purchased a new position in shares of W. P. Carey in the fourth quarter worth about $48,000. Finally, Roxbury Financial LLC purchased a new position in W. P. Carey during the fourth quarter valued at approximately $58,000. Hedge funds and other institutional investors own 73.73% of the company's stock.

Analysts Set New Price Targets

WPC has been the subject of several recent analyst reports. Evercore ISI boosted their price objective on shares of 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. Royal Bank of Canada boosted their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Barclays boosted their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, March 4th. Finally, BMO Capital Markets raised shares of W. P. Carey from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. One 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 data from MarketBeat, W. P. Carey has an average rating of "Hold" and an average target price of $63.75.

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W. P. Carey Price Performance

Shares of NYSE:WPC traded down $0.28 during trading on Wednesday, reaching $61.73. The company had a trading volume of 1,473,915 shares, compared to its average volume of 1,106,775. The company has a fifty day moving average of $58.86 and a two-hundred day moving average of $58.34. The stock has a market capitalization of $13.51 billion, a P/E ratio of 29.54, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.89 dividend. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.77%. W. P. Carey's dividend payout ratio is 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.