Family Legacy Inc. Sells 1,491 Shares of W. P. Carey Inc. (NYSE:WPC)

Family Legacy Inc. lessened its position in shares of W. P. Carey Inc. (NYSE:WPC) by 23.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,959 shares of the real estate investment trust’s stock after selling 1,491 shares during the period. Family Legacy Inc.’s holdings in W. P. Carey were worth $272,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. National Pension Service purchased a new stake in shares of W. P. Carey in the 4th quarter valued at about $25,000. Millstone Evans Group LLC bought a new position in W. P. Carey in the fourth quarter valued at $37,000. Wingate Wealth Advisors Inc. purchased a new stake in W. P. Carey during the fourth quarter valued at about $37,000. Plato Investment Management Ltd purchased a new position in shares of W. P. Carey in the 4th quarter worth about $48,000. Finally, Hoey Investments Inc. bought a new position in shares of W. P. Carey during the 4th quarter valued at about $48,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.4 %

Shares of NYSE WPC opened at $62.67 on Monday. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The firm’s 50 day moving average price is $60.04 and its 200-day moving average price is $58.38. 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 company has a market cap of $13.71 billion, a PE ratio of 29.98, a P/E/G ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.89 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.68%. W. P. Carey’s payout ratio is 170.33%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WPC. Barclays upped their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Evercore ISI lifted their price objective 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, Wells Fargo & Company raised their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.75.

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.