Wellington Management Group LLP Lowers Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Wellington Management Group LLP lowered its stake in W. P. Carey Inc. (NYSE:WPC) by 26.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,474 shares of the real estate investment trust’s stock after selling 9,720 shares during the period. Wellington Management Group LLP’s holdings in W. P. Carey were worth $1,781,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WPC. First United Bank & Trust bought a new position in shares of W. P. Carey during the fourth quarter valued at $27,000. Central Bank & Trust Co. purchased a new position in W. P. Carey in the fourth quarter worth about $28,000. FNY Investment Advisers LLC bought a new position in shares of W. P. Carey in the fourth quarter worth approximately $32,000. EdgeRock Capital LLC purchased a new stake in shares of W. P. Carey during the fourth quarter valued at approximately $32,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of W. P. Carey during the fourth quarter valued at approximately $36,000. Institutional investors own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on WPC. Wells Fargo & Company cut their target price on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. Barclays assumed 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. Royal Bank of Canada reduced their price target on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Scotiabank raised their target price on shares of W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Finally, UBS Group started coverage on shares of W. P. Carey in a research report on Friday, May 31st. They issued a “neutral” rating and a $57.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $59.70.

W. P. Carey Price Performance

NYSE WPC opened at $54.62 on Tuesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. The business’s fifty day moving average is $56.66 and its 200 day moving average is $58.65. The company has a market capitalization of $11.95 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.02 and a beta of 0.93. 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. The ex-dividend date of this dividend is Friday, June 28th. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a dividend yield of 6.37%. W. P. Carey’s payout ratio is 132.32%.

W. P. Carey Company 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.