Romano Brothers AND Company Lowers Stake in W. P. Carey Inc. (NYSE:WPC)

Romano Brothers AND Company lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 3.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 52,720 shares of the real estate investment trust’s stock after selling 1,895 shares during the quarter. Romano Brothers AND Company’s holdings in W. P. Carey were worth $2,976,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raleigh Capital Management Inc. grew its stake in shares of W. P. Carey by 3.9% in the 3rd quarter. Raleigh Capital Management Inc. now owns 5,053 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 191 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of W. P. Carey by 1.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust’s stock valued at $1,097,000 after acquiring an additional 191 shares in the last quarter. Gradient Capital Advisors LLC raised its position in shares of W. P. Carey by 0.6% in the 4th quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust’s stock worth $2,215,000 after purchasing an additional 199 shares during the last quarter. Fisher Asset Management LLC boosted its stake in W. P. Carey by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock worth $441,000 after purchasing an additional 209 shares in the last quarter. Finally, Quent Capital LLC grew its position in W. P. Carey by 32.0% during the 4th quarter. Quent Capital LLC now owns 969 shares of the real estate investment trust’s stock valued at $63,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of NYSE:WPC traded up $0.27 during midday trading on Friday, hitting $55.05. The company had a trading volume of 2,302,715 shares, compared to its average volume of 1,437,634. W. P. Carey Inc. has a 12-month low of $51.36 and a 12-month high of $73.38. The company has a fifty day moving average of $56.69 and a two-hundred day moving average of $58.77. The company has a market cap of $12.05 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.03 and a beta of 0.91. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.87 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. 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 6.32%. W. P. Carey’s dividend payout ratio is presently 132.32%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WPC. Barclays started 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 target price on the stock. Wells Fargo & Company reduced their target price on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. Royal Bank of Canada lowered their price target on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Scotiabank boosted their target price on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $59.70.

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.