Geneos Wealth Management Inc. reduced its position in W. P. Carey Inc. (NYSE:WPC – Free Report) by 1.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 17,127 shares of the real estate investment trust’s stock after selling 197 shares during the quarter. Geneos Wealth Management Inc.’s holdings in W. P. Carey were worth $933,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Quarry LP raised its holdings in W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 357 shares during the period. Maia Wealth LLC purchased a new position in shares of W. P. Carey in the 3rd quarter valued at $40,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of W. P. Carey by 35.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 172 shares in the last quarter. Abich Financial Wealth Management LLC boosted its position in W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 641 shares during the period. Finally, Fortitude Family Office LLC increased its holdings in W. P. Carey by 962.5% in the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 616 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.
W. P. Carey Trading Up 3.1 %
NYSE WPC opened at $56.96 on Tuesday. The company’s fifty day moving average price is $55.54 and its two-hundred day moving average price is $57.86. The company has a market capitalization of $12.47 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $64.26. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00.
W. P. Carey Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.88 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 6.18%. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.
Analyst Upgrades and Downgrades
A number of research analysts have commented on WPC shares. Wells Fargo & Company restated an “equal weight” rating and set a $63.00 price objective (up previously from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Barclays reaffirmed an “underweight” rating and issued a $59.00 price objective (up previously from $56.00) on shares of W. P. Carey in a research report on Tuesday, December 17th. Scotiabank reduced their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Finally, UBS Group cut their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $62.43.
Get Our Latest Analysis on W. P. Carey
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.
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