Gradient Capital Advisors LLC Sells 1,630 Shares of W. P. Carey Inc. (NYSE:WPC)

Gradient Capital Advisors LLC trimmed its holdings in W. P. Carey Inc. (NYSE:WPC) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,812 shares of the real estate investment trust’s stock after selling 1,630 shares during the quarter. Gradient Capital Advisors LLC’s holdings in W. P. Carey were worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of W. P. Carey by 660.9% during 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 acquiring an additional 1,784,131 shares in the last quarter. Victory Capital Management Inc. increased its stake in W. P. Carey by 649.4% during the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock valued at $34,507,000 after purchasing an additional 479,973 shares in the last quarter. FMR LLC raised its holdings 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 worth $50,219,000 after buying an additional 409,593 shares during the last quarter. International Assets Investment Management LLC raised its holdings in W. P. Carey by 6,145.1% in the third quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after buying an additional 400,782 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of W. P. Carey by 274.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 405,808 shares of the real estate investment trust’s stock worth $25,282,000 after buying an additional 297,432 shares in the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WPC has been the subject of several analyst reports. Scotiabank reduced their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. UBS Group reduced their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Finally, Barclays dropped their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, W. P. Carey currently has a consensus rating of “Hold” and an average price target of $62.00.

W. P. Carey Stock Performance

WPC stock opened at $56.16 on Wednesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $64.26. The company has a market cap of $12.29 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The stock’s fifty day moving average price is $55.29 and its 200-day moving average price is $57.60.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 6.27%. 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 138.58%.

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.