Concord Wealth Partners Sells 377 Shares of W. P. Carey Inc. (NYSE:WPC)

Concord Wealth Partners cut its position in W. P. Carey Inc. (NYSE:WPC) by 17.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,789 shares of the real estate investment trust’s stock after selling 377 shares during the quarter. Concord Wealth Partners’ holdings in W. P. Carey were worth $97,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WPC. Quarry LP raised its holdings in W. P. Carey by 175.9% in the 2nd quarter. Quarry LP now owns 560 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 357 shares during the last quarter. Maia Wealth LLC bought a new position in shares of W. P. Carey during the third quarter valued at $40,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of W. P. Carey by 35.9% during the third 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 grew its stake in shares of W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 641 shares during the last quarter. Finally, Fortitude Family Office LLC increased its holdings in W. P. Carey by 962.5% in the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 616 shares during the period. 73.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. UBS Group reduced their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Barclays restated an “underweight” rating and set a $59.00 price target (up previously from $56.00) on shares of W. P. Carey in a report on Tuesday, December 17th. Finally, Scotiabank reduced their price objective on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $62.43.

W. P. Carey Price Performance

W. P. Carey stock opened at $55.96 on Friday. The stock’s 50 day moving average price is $55.44 and its two-hundred day moving average price is $57.79. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 0.99 and a beta of 0.97. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $64.26.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 6.29%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.

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.