Meritage Portfolio Management Sells 5,745 Shares of W. P. Carey Inc. (NYSE:WPC)

Meritage Portfolio Management reduced its stake in W. P. Carey Inc. (NYSE:WPC) by 6.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 79,323 shares of the real estate investment trust’s stock after selling 5,745 shares during the quarter. Meritage Portfolio Management’s holdings in W. P. Carey were worth $4,322,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in WPC. Brown Lisle Cummings Inc. lifted its position in shares of W. P. Carey by 3.3% during the 4th quarter. Brown Lisle Cummings Inc. now owns 48,641 shares of the real estate investment trust’s stock valued at $2,650,000 after acquiring an additional 1,535 shares during the period. Dupree Financial Group LLC lifted its position in W. P. Carey by 2.0% during the fourth quarter. Dupree Financial Group LLC now owns 100,828 shares of the real estate investment trust’s stock worth $5,493,000 after purchasing an additional 1,933 shares during the period. abrdn plc lifted its position in W. P. Carey by 21.0% during the fourth quarter. abrdn plc now owns 124,229 shares of the real estate investment trust’s stock worth $6,783,000 after purchasing an additional 21,572 shares during the period. Graham Capital Wealth Management LLC grew its stake in W. P. Carey by 4.2% during the fourth quarter. Graham Capital Wealth Management LLC now owns 53,058 shares of the real estate investment trust’s stock worth $2,891,000 after buying an additional 2,132 shares in the last quarter. Finally, KPP Advisory Services LLC raised its position in shares of W. P. Carey by 24.9% in the 4th quarter. KPP Advisory Services LLC now owns 4,804 shares of the real estate investment trust’s stock valued at $262,000 after buying an additional 959 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WPC shares. Barclays reduced their price target on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday. UBS Group reduced their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Scotiabank lowered their price target on 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. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.00.

W. P. Carey Trading Down 0.5 %

NYSE WPC opened at $55.18 on Wednesday. The company has a market cap of $12.08 billion, a price-to-earnings ratio of 21.72, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.26. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The business’s fifty day moving average is $55.36 and its 200 day moving average is $57.71.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.38%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s payout ratio is 138.58%.

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.