Berkshire Asset Management LLC PA Sells 9,212 Shares of W. P. Carey Inc. (NYSE:WPC)

Berkshire Asset Management LLC PA reduced its stake in W. P. Carey Inc. (NYSE:WPC) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 322,771 shares of the real estate investment trust’s stock after selling 9,212 shares during the period. Berkshire Asset Management LLC PA’s holdings in W. P. Carey were worth $17,836,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WPC. National Pension Service bought a new stake in W. P. Carey in the fourth quarter valued at $25,000. Wingate Wealth Advisors Inc. acquired a new position in shares of W. P. Carey during the fourth quarter valued at about $37,000. Maia Wealth LLC acquired a new position in shares of W. P. Carey during the third quarter valued at about $40,000. RPg Family Wealth Advisory LLC acquired a new position in shares of W. P. Carey during the third quarter valued at about $44,000. Finally, Plato Investment Management Ltd acquired a new position in shares of W. P. Carey during the fourth quarter valued at about $48,000. 73.73% of the stock is owned by institutional investors.

W. P. Carey Stock Down 1.7 %

WPC opened at $63.95 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock has a market cap of $13.99 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 1.06 and a beta of 0.97. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $65.45. The company’s 50-day moving average price is $57.36 and its two-hundred day moving average price is $58.11.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 5.50%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 168.42%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WPC. Scotiabank reduced their price objective on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. Evercore ISI boosted their price target 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. UBS Group cut their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Barclays boosted their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday. Finally, Royal Bank of Canada boosted their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.88.

W. P. Carey Company 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.