Cozad Asset Management Inc. Sells 8,914 Shares of W. P. Carey Inc. (NYSE:WPC)

Cozad Asset Management Inc. decreased its position in W. P. Carey Inc. (NYSE:WPC) by 15.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 49,013 shares of the real estate investment trust’s stock after selling 8,914 shares during the quarter. Cozad Asset Management Inc.’s holdings in W. P. Carey were worth $2,670,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. National Pension Service bought a new position in W. P. Carey in the fourth quarter valued at about $25,000. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey in the fourth quarter valued at about $37,000. RPg Family Wealth Advisory LLC bought a new position in W. P. Carey in the third quarter valued at about $44,000. Plato Investment Management Ltd bought a new position in W. P. Carey during the fourth quarter worth about $48,000. Finally, Roxbury Financial LLC bought a new position in W. P. Carey during the fourth quarter worth about $58,000. Institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on WPC shares. Royal Bank of Canada raised their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Evercore ISI raised their target price 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. Finally, Barclays raised their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $63.75.

W. P. Carey Trading Up 1.6 %

NYSE:WPC opened at $62.64 on Monday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $13.71 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The business’s 50-day simple moving average is $58.57 and its 200-day simple moving average is $58.30.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a dividend yield of 5.68%. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is 170.33%.

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.