Avantax Planning Partners Inc. Trims Stake in W. P. Carey Inc. (NYSE:WPC)

Avantax Planning Partners Inc. reduced its position in W. P. Carey Inc. (NYSE:WPC) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 6,219 shares of the real estate investment trust’s stock after selling 218 shares during the period. Avantax Planning Partners Inc.’s holdings in W. P. Carey were worth $339,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in WPC. RFG Advisory LLC increased its position in W. P. Carey by 91.7% in the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 3,049 shares during the period. Equity Investment Corp increased its position in W. P. Carey by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after acquiring an additional 9,610 shares during the period. Stifel Financial Corp increased its position in W. P. Carey by 7.0% in the 3rd quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock valued at $1,980,000 after acquiring an additional 2,075 shares during the period. FMR LLC increased its position in W. P. Carey by 103.3% in the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after acquiring an additional 409,593 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in W. P. Carey in the 3rd quarter valued at about $1,267,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Stock Performance

Shares of WPC stock opened at $61.97 on Thursday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $66.10. The company’s 50-day simple moving average is $58.12 and its 200-day simple moving average is $58.25. The stock has a market capitalization of $13.56 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 1.06 and a beta of 0.95.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on WPC shares. Evercore ISI boosted their price target on 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. Wells Fargo & Company boosted their price target on W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday. Royal Bank of Canada boosted their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, Scotiabank boosted their target price on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $63.75.

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.