Arete Wealth Advisors LLC Sells 676 Shares of W. P. Carey Inc. (NYSE:WPC)

Arete Wealth Advisors LLC cut its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 3.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,428 shares of the real estate investment trust’s stock after selling 676 shares during the period. Arete Wealth Advisors LLC’s holdings in W. P. Carey were worth $945,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of WPC. FMR LLC boosted its stake in W. P. Carey by 103.3% in the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after buying an additional 409,593 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of W. P. Carey by 29.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 28,520 shares of the real estate investment trust’s stock valued at $1,777,000 after purchasing an additional 6,560 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of W. P. Carey by 33.9% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 20,623 shares of the real estate investment trust’s stock valued at $1,285,000 after purchasing an additional 5,224 shares during the last quarter. Paloma Partners Management Co acquired a new position in W. P. Carey during the 3rd quarter worth approximately $262,000. Finally, Benjamin Edwards Inc. lifted its stake in W. P. Carey by 444.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 4,976 shares of the real estate investment trust’s stock valued at $310,000 after purchasing an additional 4,062 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Down 3.8 %

WPC opened at $59.08 on Friday. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a fifty day moving average of $60.66 and a 200-day moving average of $58.40. The stock has a market cap of $12.93 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.89 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date is Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 170.33%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Scotiabank increased their price target on 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. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and increased their target price for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Royal Bank of Canada boosted their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Barclays raised their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Finally, Wells Fargo & Company boosted their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $63.75.

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.