LPL Financial LLC Sells 27,335 Shares of W. P. Carey Inc. (NYSE:WPC)

LPL Financial LLC cut its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 699,961 shares of the real estate investment trust’s stock after selling 27,335 shares during the period. LPL Financial LLC owned 0.32% of W. P. Carey worth $38,134,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. National Pension Service bought a new stake in W. P. Carey during the 4th quarter valued at $25,000. Millstone Evans Group LLC purchased a new stake in shares of W. P. Carey during the 4th quarter worth $37,000. Wingate Wealth Advisors Inc. bought a new stake in W. P. Carey during the fourth quarter valued at about $37,000. Plato Investment Management Ltd purchased a new position in W. P. Carey in the fourth quarter valued at about $48,000. Finally, Roxbury Financial LLC bought a new position in W. P. Carey in the fourth quarter worth about $58,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WPC. Barclays lifted their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. Scotiabank lifted their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Finally, Evercore ISI increased their price target on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Trading Up 0.4 %

W. P. Carey stock opened at $62.67 on Friday. The stock has a 50-day moving average price of $60.04 and a 200 day moving average price of $58.44. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 29.98, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 5.68%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. W. P. Carey’s payout ratio is presently 170.33%.

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.