Wealthcare Advisory Partners LLC Sells 363 Shares of W. P. Carey Inc. (NYSE:WPC)

Wealthcare Advisory Partners LLC reduced its stake in W. P. Carey Inc. (NYSE:WPC) by 1.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,996 shares of the real estate investment trust’s stock after selling 363 shares during the period. Wealthcare Advisory Partners LLC’s holdings in W. P. Carey were worth $1,524,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WPC. FMR LLC grew its position in shares of W. P. Carey by 1.8% during the 3rd quarter. FMR LLC now owns 262,809 shares of the real estate investment trust’s stock worth $14,213,000 after buying an additional 4,685 shares during the period. Invesco Ltd. increased its stake in W. P. Carey by 3.5% in the third quarter. Invesco Ltd. now owns 425,639 shares of the real estate investment trust’s stock valued at $23,019,000 after purchasing an additional 14,318 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in W. P. Carey in the third quarter worth $1,667,000. Synovus Financial Corp bought a new position in shares of W. P. Carey during the third quarter worth $207,000. Finally, Bank of Nova Scotia grew its holdings in shares of W. P. Carey by 17.3% in the 3rd quarter. Bank of Nova Scotia now owns 11,534 shares of the real estate investment trust’s stock valued at $624,000 after buying an additional 1,698 shares during the period. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Price Performance

Shares of WPC opened at $55.63 on Friday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $73.38. The stock has a market capitalization of $12.17 billion, a P/E ratio of 21.15, a P/E/G ratio of 1.02 and a beta of 0.91. The company has a 50 day moving average of $56.71 and a 200-day moving average of $58.85.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.87 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a yield of 6.26%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is 131.56%.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company dropped their price objective on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. UBS Group initiated coverage on W. P. Carey in a research report on Friday, May 31st. They set a “neutral” rating and a $57.00 price target on the stock. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Scotiabank increased their target price on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. Finally, Barclays initiated coverage on shares of W. P. Carey in a research note on Wednesday, March 27th. They issued an “equal weight” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, W. P. Carey has a consensus rating of “Hold” and a consensus target price of $59.70.

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.