Pathway Financial Advisers LLC Reduces Stake in W. P. Carey Inc. (NYSE:WPC)

Pathway Financial Advisers LLC cut its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,860 shares of the real estate investment trust’s stock after selling 492 shares during the period. Pathway Financial Advisers LLC’s holdings in W. P. Carey were worth $1,845,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. RFG Advisory LLC boosted its holdings in W. P. Carey by 91.7% in the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 3,049 shares in the last quarter. Equity Investment Corp boosted its stake in shares of W. P. Carey by 0.7% during the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after purchasing an additional 9,610 shares in the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of W. P. Carey during the 3rd quarter valued at about $1,692,000. abrdn plc increased its position in shares of W. P. Carey by 9.9% during the third quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock valued at $6,396,000 after buying an additional 9,229 shares during the period. Finally, Stifel Financial Corp raised its stake in W. P. Carey by 7.0% in the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock worth $1,980,000 after buying an additional 2,075 shares in the last quarter. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group cut their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Barclays dropped their price target on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. Scotiabank decreased their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and an average target price of $62.00.

W. P. Carey Stock Up 2.7 %

WPC stock opened at $57.64 on Thursday. The business has a 50 day moving average of $55.33 and a 200 day moving average of $57.60. The firm has a market cap of $12.61 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.26. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

W. P. Carey Increases Dividend

The business also recently declared 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 an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.11%. W. P. Carey’s dividend payout ratio (DPR) is presently 138.58%.

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.