Boston Financial Mangement LLC Has $272,000 Stake in W. P. Carey Inc. (NYSE:WPC)

Boston Financial Mangement LLC decreased its stake in W. P. Carey Inc. (NYSE:WPC) by 21.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,000 shares of the real estate investment trust’s stock after selling 1,370 shares during the period. Boston Financial Mangement LLC’s holdings in W. P. Carey were worth $272,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in W. P. Carey by 2.9% in the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock valued at $284,426,000 after buying an additional 127,477 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in W. P. Carey by 4.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after buying an additional 103,147 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in W. P. Carey by 660.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock valued at $127,969,000 after buying an additional 1,784,131 shares during the period. JPMorgan Chase & Co. lifted its stake in W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock valued at $94,325,000 after buying an additional 264,230 shares during the period. Finally, Equity Investment Corp lifted its stake in W. P. Carey by 0.7% in the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after buying an additional 9,610 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Upgrades and Downgrades

WPC has been the topic of several analyst reports. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Barclays lowered their price target on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada increased 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. Evercore ISI increased their price target on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday. Finally, BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $60.00 to $67.00 in a report on Tuesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey has an average rating of “Hold” and a consensus price target of $62.38.

W. P. Carey Stock Up 1.2 %

WPC stock opened at $61.17 on Friday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The business has a 50 day moving average price of $55.78 and a two-hundred day moving average price of $57.64. The company has a market cap of $13.39 billion, a price-to-earnings ratio of 29.27, a P/E/G ratio of 1.04 and a beta of 0.97. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.26.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.75%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is presently 168.42%.

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.