Bank of New York Mellon Corp Reduces Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Bank of New York Mellon Corp lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 0.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,237,905 shares of the real estate investment trust’s stock after selling 10,351 shares during the period. Bank of New York Mellon Corp’s holdings in W. P. Carey were worth $121,921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in WPC. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey in the fourth quarter worth approximately $37,000. Maia Wealth LLC purchased a new stake in shares of W. P. Carey in the 3rd quarter worth $40,000. RPg Family Wealth Advisory LLC bought a new position in W. P. Carey in the 3rd quarter worth $44,000. Allspring Global Investments Holdings LLC lifted its position in W. P. Carey by 70.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 341 shares in the last quarter. Finally, Roxbury Financial LLC bought a new stake in W. P. Carey during the fourth quarter valued at about $58,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 0.0 %

WPC opened at $64.22 on Friday. The company has a market capitalization of $14.05 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. The firm has a 50-day simple moving average of $56.77 and a two-hundred day simple moving average of $57.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $64.68.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 5.48%. The ex-dividend date was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is currently 168.42%.

Wall Street Analysts Forecast Growth

WPC has been the topic of several recent research reports. UBS Group decreased their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Royal Bank of Canada upped their price target 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. Evercore ISI raised 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 report on Wednesday, February 19th. Finally, Scotiabank dropped their target price 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. One equities research 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $62.38.

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.