D.B. Root & Company LLC Reduces Stock Position in W. P. Carey Inc. (NYSE:WPC)

D.B. Root & Company LLC reduced its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 39.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,479 shares of the real estate investment trust’s stock after selling 5,566 shares during the quarter. D.B. Root & Company LLC’s holdings in W. P. Carey were worth $479,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WPC. First United Bank & Trust bought a new position in W. P. Carey during the 4th quarter valued at $27,000. Central Bank & Trust Co. acquired a new position in W. P. Carey in the fourth quarter worth about $28,000. Riverview Trust Co acquired a new position in W. P. Carey in the first quarter worth about $28,000. FNY Investment Advisers LLC bought a new stake in W. P. Carey in the fourth quarter valued at about $32,000. Finally, EdgeRock Capital LLC acquired a new stake in W. P. Carey during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WPC. Scotiabank upped their price target on W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Barclays assumed coverage on shares of W. P. Carey in a report on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target for the company. Wells Fargo & Company cut their target price on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Finally, Royal Bank of Canada lowered their target price on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.70.

W. P. Carey Stock Performance

WPC stock opened at $55.05 on Monday. The company has a 50-day simple moving average of $56.69 and a 200 day simple moving average of $58.72. The company has a market capitalization of $12.05 billion, a P/E ratio of 20.93, a PEG ratio of 1.02 and a beta of 0.91. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. W. P. Carey Inc. has a fifty-two week low of $51.36 and a fifty-two week high of $73.38.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.87 per share. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.32%. The ex-dividend date of this dividend is Friday, June 28th. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is currently 131.56%.

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.