Seneca House Advisors Has $6.53 Million Stock Position in W. P. Carey Inc. (NYSE:WPC)

Seneca House Advisors reduced its position in W. P. Carey Inc. (NYSE:WPC) by 0.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 115,690 shares of the real estate investment trust’s stock after selling 377 shares during the period. W. P. Carey accounts for approximately 2.8% of Seneca House Advisors’ investment portfolio, making the stock its 15th largest holding. Seneca House Advisors’ holdings in W. P. Carey were worth $6,530,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in WPC. Raleigh Capital Management Inc. boosted its position in shares of W. P. Carey by 3.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 191 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of W. P. Carey by 1.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust’s stock worth $1,097,000 after purchasing an additional 191 shares during the last quarter. Gradient Capital Advisors LLC boosted its position in shares of W. P. Carey by 0.6% in the 4th quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust’s stock worth $2,215,000 after purchasing an additional 199 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of W. P. Carey by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock worth $441,000 after purchasing an additional 209 shares during the last quarter. Finally, Quent Capital LLC lifted its holdings in W. P. Carey by 32.0% during the fourth quarter. Quent Capital LLC now owns 969 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 235 shares in the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on WPC. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Royal Bank of Canada reduced their target price on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Barclays began coverage on W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price on the stock. Wells Fargo & Company reduced their target price on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Finally, Scotiabank lifted their target price on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and a consensus price target of $59.70.

W. P. Carey Stock Up 0.5 %

Shares of WPC traded up $0.27 during midday trading on Friday, hitting $55.05. The stock had a trading volume of 2,302,715 shares, compared to its average volume of 1,437,634. The company has a 50 day simple moving average of $56.69 and a two-hundred day simple moving average of $58.72. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $73.38. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.87 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date is Friday, June 28th. This represents a $3.48 annualized dividend and a dividend yield of 6.32%. W. P. Carey’s dividend payout ratio (DPR) is currently 131.56%.

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.