Nisa Investment Advisors LLC lowered its holdings in W. P. Carey Inc. (NYSE:WPC – Free Report) by 14.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 56,575 shares of the real estate investment trust’s stock after selling 9,876 shares during the period. Nisa Investment Advisors LLC’s holdings in W. P. Carey were worth $3,138,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in WPC. Quarry LP grew its stake in shares of W. P. Carey by 175.9% in the second quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 357 shares in the last quarter. Maia Wealth LLC acquired a new position in W. P. Carey during the 3rd quarter worth $40,000. Massmutual Trust Co. FSB ADV increased its holdings in W. P. Carey by 35.9% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 651 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 172 shares during the period. Abich Financial Wealth Management LLC raised its position in W. P. Carey by 2,374.1% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 641 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of W. P. Carey by 962.5% in the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 616 shares during the period. 73.73% of the stock is owned by hedge funds and other institutional investors.
W. P. Carey Stock Up 0.8 %
WPC opened at $55.24 on Friday. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $64.81. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $12.09 billion, a P/E ratio of 21.75, a price-to-earnings-growth ratio of 1.00 and a beta of 0.97. The business’s 50-day simple moving average is $55.53 and its 200-day simple moving average is $57.85.
W. P. Carey Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a yield of 6.37%. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.
Wall Street Analyst Weigh In
WPC has been the topic of a number of recent research reports. Barclays restated an “underweight” rating and set a $59.00 target price (up from $56.00) on shares of W. P. Carey in a research note on Tuesday, December 17th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Scotiabank lowered their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company restated an “equal weight” rating and issued a $63.00 price target (up from $62.00) on shares of W. P. Carey in a research note on Tuesday, October 1st. Finally, UBS Group lowered their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.43.
Read Our Latest Research Report on WPC
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.
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