Global Retirement Partners LLC Sells 495 Shares of W. P. Carey Inc. (NYSE:WPC)

Global Retirement Partners LLC trimmed its stake in W. P. Carey Inc. (NYSE:WPC) by 4.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,404 shares of the real estate investment trust’s stock after selling 495 shares during the period. Global Retirement Partners LLC’s holdings in W. P. Carey were worth $567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Maia Wealth LLC acquired a new stake in W. P. Carey in the 3rd quarter valued at approximately $40,000. Abich Financial Wealth Management LLC grew its holdings 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 buying an additional 641 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in shares of W. P. Carey during the 4th quarter worth approximately $37,000. Fortitude Family Office LLC grew its holdings in shares of W. P. Carey by 962.5% during the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 616 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new stake in shares of W. P. Carey during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.8 %

Shares of WPC opened at $61.68 on Friday. The stock has a fifty day moving average price of $55.87 and a two-hundred day moving average price of $57.69. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $64.26. The company has a market cap of $13.50 billion, a price-to-earnings ratio of 29.51, a PEG ratio of 1.06 and a beta of 0.97.

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 $0.88 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 5.71%. W. P. Carey’s payout ratio is presently 168.42%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $60.00 to $67.00 in a report on Tuesday, February 18th. Evercore ISI raised their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday. Barclays cut their target price on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Tuesday, February 4th. UBS Group cut their target price 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. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, W. P. Carey currently has an average rating of “Hold” and an average target price of $62.38.

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.