MV Capital Management Inc. Has $29,000 Stake in W. P. Carey Inc. (NYSE:WPC)

MV Capital Management Inc. cut its holdings in W. P. Carey Inc. (NYSE:WPC) by 30.3% during the fourth quarter, HoldingsChannel reports. The firm owned 531 shares of the real estate investment trust’s stock after selling 231 shares during the period. MV Capital Management Inc.’s holdings in W. P. Carey were worth $29,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. National Pension Service bought a new position in W. P. Carey in the 4th quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new stake in shares of W. P. Carey in the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey during the fourth quarter worth $37,000. Plato Investment Management Ltd acquired a new position in W. P. Carey during the 4th quarter valued at $48,000. Finally, Roxbury Financial LLC bought a new stake in W. P. Carey in the 4th quarter valued at $58,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WPC. Barclays upped 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 report on Tuesday, March 4th. Scotiabank raised their price objective on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Evercore ISI raised their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Finally, Wells Fargo & Company boosted their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Monday, March 10th. One investment 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Price Performance

NYSE:WPC opened at $62.67 on Friday. The firm has a market cap of $13.71 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. 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 company’s 50-day moving average price is $60.04 and its two-hundred day moving average price is $58.41. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $66.10.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a yield of 5.68%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date 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.