Summit Securities Group LLC Has $27,000 Stock Position in W. P. Carey Inc. (NYSE:WPC)

Summit Securities Group LLC cut its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 91.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 500 shares of the real estate investment trust’s stock after selling 5,600 shares during the quarter. Summit Securities Group LLC’s holdings in W. P. Carey were worth $27,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Schroder Investment Management Group raised its position in W. P. Carey by 69.2% in the fourth quarter. Schroder Investment Management Group now owns 282,368 shares of the real estate investment trust’s stock valued at $15,169,000 after purchasing an additional 115,522 shares during the last quarter. Allstate Corp acquired a new position in W. P. Carey in the 4th quarter valued at approximately $366,000. Brown Brothers Harriman & Co. raised its stake in shares of W. P. Carey by 146.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 2,971 shares of the real estate investment trust’s stock valued at $162,000 after acquiring an additional 1,765 shares during the last quarter. DnB Asset Management AS lifted its holdings in shares of W. P. Carey by 4.6% during the fourth quarter. DnB Asset Management AS now owns 42,493 shares of the real estate investment trust’s stock worth $2,315,000 after purchasing an additional 1,850 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in W. P. Carey by 3.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 355,333 shares of the real estate investment trust’s stock valued at $19,359,000 after purchasing an additional 12,560 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.4 %

NYSE:WPC opened at $62.67 on Monday. 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. The stock has a market capitalization of $13.71 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.06 and a beta of 0.95. The firm has a fifty day simple moving average of $60.04 and a two-hundred day simple moving average of $58.38.

W. P. Carey Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a dividend yield of 5.68%. W. P. Carey’s dividend payout ratio (DPR) is currently 170.33%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Evercore ISI lifted their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Barclays lifted their price objective on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. Scotiabank increased their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the company 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. Finally, Royal Bank of Canada increased their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report 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. According to MarketBeat, W. P. Carey currently has an average rating of “Hold” and an average target price of $63.75.

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.