W. P. Carey Inc. (NYSE:WPC) Shares Sold by MV Capital Management Inc.

MV Capital Management Inc. lowered its position in shares of W. P. Carey Inc. (NYSE:WPC) by 30.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 531 shares of the real estate investment trust’s stock after selling 231 shares during the quarter. MV Capital Management Inc.’s holdings in W. P. Carey were worth $29,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. National Pension Service bought a new position in shares of W. P. Carey in the fourth quarter valued at $25,000. Millstone Evans Group LLC acquired a new stake in shares of W. P. Carey during the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of W. P. Carey during the fourth quarter valued at $37,000. Plato Investment Management Ltd acquired a new position in shares of W. P. Carey in the 4th quarter valued at $48,000. Finally, Roxbury Financial LLC purchased a new position in W. P. Carey in the 4th quarter worth about $58,000. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

Shares of WPC stock opened at $62.67 on Friday. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The stock’s 50-day moving average is $60.04 and its two-hundred day moving average is $58.41. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $13.71 billion, a P/E ratio of 29.98, a PEG ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.89 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.68%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is currently 170.33%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on WPC shares. Scotiabank upped their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Barclays raised their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. Royal Bank of Canada boosted their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Wells Fargo & Company raised their target price on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Monday, March 10th. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.75.

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.