Excalibur Management Corp Sells 4,662 Shares of W. P. Carey Inc. (NYSE:WPC)

Excalibur Management Corp cut its position in W. P. Carey Inc. (NYSE:WPC) by 14.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,548 shares of the real estate investment trust’s stock after selling 4,662 shares during the quarter. Excalibur Management Corp’s holdings in W. P. Carey were worth $1,501,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. National Pension Service bought a new position in W. P. Carey during the fourth quarter worth about $25,000. Millstone Evans Group LLC bought a new position in W. P. Carey in the 4th quarter worth approximately $37,000. Wingate Wealth Advisors Inc. purchased a new position in W. P. Carey in the 4th quarter valued at approximately $37,000. RPg Family Wealth Advisory LLC bought a new stake in W. P. Carey during the 3rd quarter valued at $44,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of W. P. Carey during the fourth quarter worth $48,000. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

WPC has been the topic of a number of analyst reports. Scotiabank boosted their price objective on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Wells Fargo & Company increased their price target on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $60.00 to $67.00 in a research note on Tuesday, February 18th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Finally, Evercore ISI boosted 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 research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Stock Up 0.3 %

WPC opened at $61.59 on Wednesday. The business’s fifty day simple moving average is $59.59 and its 200 day simple moving average is $58.37. 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. The stock has a market cap of $13.48 billion, a PE ratio of 29.47, a P/E/G ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.78%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is currently 170.33%.

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.