Creegan & Nassoura Financial Group LLC Sells 1,755 Shares of W. P. Carey Inc. (NYSE:WPC)

Creegan & Nassoura Financial Group LLC lessened its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,085 shares of the real estate investment trust’s stock after selling 1,755 shares during the quarter. W. P. Carey comprises approximately 2.1% of Creegan & Nassoura Financial Group LLC’s portfolio, making the stock its 16th biggest holding. Creegan & Nassoura Financial Group LLC’s holdings in W. P. Carey were worth $3,110,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. DF Dent & Co. Inc. increased its holdings in shares of W. P. Carey by 3.5% during the fourth quarter. DF Dent & Co. Inc. now owns 5,464 shares of the real estate investment trust’s stock valued at $298,000 after acquiring an additional 183 shares in the last quarter. HighTower Advisors LLC raised its holdings in W. P. Carey by 0.4% in the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock worth $2,418,000 after acquiring an additional 193 shares during the last quarter. Capital Investment Advisory Services LLC raised its stake in shares of W. P. Carey by 3.1% in the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock worth $474,000 after purchasing an additional 259 shares during the last quarter. Empowered Funds LLC boosted its position in shares of W. P. Carey by 7.7% during the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock valued at $206,000 after buying an additional 271 shares during the last quarter. Finally, Cooper Financial Group lifted its stake in W. P. Carey by 2.4% during the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock valued at $649,000 after acquiring an additional 276 shares during the period. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 1.5 %

Shares of WPC opened at $62.18 on Monday. 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 Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The company has a market cap of $13.62 billion, a PE ratio of 29.75, a P/E/G ratio of 1.06 and a beta of 0.81. The business has a fifty day moving average of $61.40 and a 200 day moving average of $58.07.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.89 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.73%. W. P. Carey’s dividend payout ratio (DPR) is presently 170.33%.

Wall Street Analyst Weigh In

WPC has been the topic of a number of research reports. Wells Fargo & Company raised their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Scotiabank raised their target price on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. Barclays lifted their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $63.75.

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.