Global Retirement Partners LLC Sells 495 Shares of W. P. Carey Inc. (NYSE:WPC)

Global Retirement Partners LLC lowered its position in shares of W. P. Carey Inc. (NYSE:WPC) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,404 shares of the real estate investment trust’s stock after selling 495 shares during the quarter. Global Retirement Partners LLC’s holdings in W. P. Carey were worth $567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. RFG Advisory LLC raised its position in shares of W. P. Carey by 91.7% during the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock worth $347,000 after acquiring an additional 3,049 shares during the last quarter. Equity Investment Corp raised its position in shares of W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after acquiring an additional 9,610 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of W. P. Carey during the third quarter worth $1,692,000. abrdn plc raised its position in shares of W. P. Carey by 9.9% during the third quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock worth $6,396,000 after acquiring an additional 9,229 shares during the last quarter. Finally, Stifel Financial Corp raised its position in shares of W. P. Carey by 7.0% during the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after acquiring an additional 2,075 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 0.8 %

NYSE:WPC opened at $61.68 on Friday. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $64.26. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock has a market cap of $13.50 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 1.06 and a beta of 0.97. The stock has a 50-day moving average price of $55.87 and a two-hundred day moving average price of $57.69.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 5.71%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s payout ratio is presently 168.42%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Barclays decreased their price objective on 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. UBS Group decreased their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Evercore ISI lifted their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.38.

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.