W. P. Carey Inc. (NYSE:WPC) Shares Sold by Wellington Shields Capital Management LLC

Wellington Shields Capital Management LLC trimmed its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 23.8% during the fourth quarter, Holdings Channel reports. The fund owned 35,910 shares of the real estate investment trust’s stock after selling 11,217 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in W. P. Carey were worth $1,956,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WPC. HighTower Advisors LLC boosted its holdings in shares of W. P. Carey by 0.4% in the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock valued at $2,418,000 after acquiring an additional 193 shares in the last quarter. Harbour Investments Inc. lifted its stake in W. P. Carey by 5.9% during the third quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock valued at $226,000 after purchasing an additional 203 shares during the last quarter. Capital Investment Advisory Services LLC boosted its stake in shares of W. P. Carey by 3.1% during the 4th quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock worth $474,000 after acquiring an additional 259 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of W. P. Carey by 7.7% in the 4th quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 271 shares during the last quarter. Finally, Cooper Financial Group raised its position in shares of W. P. Carey by 2.4% during the fourth quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock worth $649,000 after purchasing an additional 276 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Scotiabank lifted their price target on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Evercore ISI upped their price target 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. Wells Fargo & Company boosted their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research note on Monday. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Stock Down 0.5 %

WPC opened at $61.60 on Friday. The firm has a market cap of $13.48 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 1.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The firm’s 50-day simple moving average is $58.27 and its 200-day simple moving average is $58.28. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10.

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. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.78%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 168.42%.

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.