Wealth Enhancement Advisory Services LLC Reduces Holdings in W. P. Carey Inc. (NYSE:WPC)

Wealth Enhancement Advisory Services LLC lowered its position in W. P. Carey Inc. (NYSE:WPC) by 5.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 138,161 shares of the real estate investment trust’s stock after selling 8,113 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.06% of W. P. Carey worth $7,798,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First United Bank & Trust purchased a new position in shares of W. P. Carey in the fourth quarter worth about $27,000. Central Bank & Trust Co. acquired a new stake in W. P. Carey in the 4th quarter valued at about $28,000. Riverview Trust Co purchased a new position in W. P. Carey in the 1st quarter worth approximately $28,000. FNY Investment Advisers LLC acquired a new position in shares of W. P. Carey during the 4th quarter worth approximately $32,000. Finally, EdgeRock Capital LLC purchased a new stake in shares of W. P. Carey in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

WPC has been the topic of a number of analyst reports. UBS Group began coverage on W. P. Carey in a research report on Friday, May 31st. They set a “neutral” rating and a $57.00 price objective on the stock. Royal Bank of Canada lowered their price target on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Scotiabank raised their price objective on shares of W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Barclays began coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 target price on the stock. Finally, Wells Fargo & Company dropped their price target on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, W. P. Carey has an average rating of “Hold” and a consensus target price of $59.70.

W. P. Carey Stock Down 1.1 %

Shares of NYSE WPC opened at $55.05 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. The business’s 50 day moving average is $56.69 and its two-hundred day moving average is $58.72. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $73.38. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.02 and a beta of 0.91.

W. P. Carey Increases Dividend

The company also recently announced 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 is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date is Friday, June 28th. This represents a $3.48 annualized dividend and a yield of 6.32%. W. P. Carey’s dividend payout ratio is presently 131.56%.

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.