SRS Capital Advisors Inc. Trims Position in W. P. Carey Inc. (NYSE:WPC)

SRS Capital Advisors Inc. lessened its position in shares of W. P. Carey Inc. (NYSE:WPC) by 23.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,278 shares of the real estate investment trust’s stock after selling 3,482 shares during the quarter. SRS Capital Advisors Inc.’s holdings in W. P. Carey were worth $614,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in W. P. Carey by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after buying an additional 127,477 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in W. P. Carey by 4.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after buying an additional 103,147 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in W. P. Carey by 660.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock worth $127,969,000 after buying an additional 1,784,131 shares in the last quarter. Equity Investment Corp increased its position in W. P. Carey by 26.3% in the fourth quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust’s stock worth $101,918,000 after buying an additional 389,107 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock worth $94,325,000 after buying an additional 264,230 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on WPC. UBS Group reduced their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Scotiabank lowered 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 note on Thursday, January 16th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Royal Bank of Canada upped their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Finally, Evercore ISI boosted their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and an average target price of $62.38.

W. P. Carey Trading Up 0.7 %

WPC stock opened at $64.67 on Tuesday. The firm has a fifty day moving average price of $56.77 and a 200 day moving average price of $57.96. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $64.87. 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 has a market cap of $14.15 billion, a PE ratio of 30.94, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.44%. W. P. Carey’s dividend payout ratio (DPR) is 168.42%.

W. P. Carey 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.