Kovack Advisors Inc. Has $264,000 Stock Holdings in W. P. Carey Inc. (NYSE:WPC)

Kovack Advisors Inc. trimmed its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 18.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,844 shares of the real estate investment trust’s stock after selling 1,075 shares during the period. Kovack Advisors Inc.’s holdings in W. P. Carey were worth $264,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. National Pension Service acquired a new stake in W. P. Carey in the 4th quarter valued at about $25,000. Maia Wealth LLC acquired a new stake in W. P. Carey in the 3rd quarter valued at about $40,000. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey in the 4th quarter valued at about $37,000. RPg Family Wealth Advisory LLC acquired a new stake in W. P. Carey in the 3rd quarter valued at about $44,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in W. P. Carey by 70.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 341 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WPC shares. BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and raised their target price for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. UBS Group lowered their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. Barclays lowered their price target on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. Evercore ISI increased their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Finally, Scotiabank lowered their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.38.

W. P. Carey Stock Up 0.0 %

Shares of WPC opened at $64.22 on Friday. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $64.68. The firm’s 50 day moving average is $56.77 and its 200-day moving average is $57.95. The stock has a market capitalization of $14.05 billion, a PE ratio of 30.73, a P/E/G ratio of 1.06 and a beta of 0.97. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 5.48%. W. P. Carey’s dividend payout ratio (DPR) is currently 168.42%.

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.