Gradient Capital Advisors LLC Sells 1,630 Shares of W. P. Carey Inc. (NYSE:WPC)

Gradient Capital Advisors LLC decreased its stake in W. P. Carey Inc. (NYSE:WPC) by 5.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,812 shares of the real estate investment trust’s stock after selling 1,630 shares during the period. Gradient Capital Advisors LLC’s holdings in W. P. Carey were worth $1,624,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in WPC. Harbour Investments Inc. grew its stake in W. P. Carey by 5.9% in the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock valued at $226,000 after buying an additional 203 shares in the last quarter. Creative Planning boosted its holdings in shares of W. P. Carey by 0.3% in the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after acquiring an additional 207 shares during the period. Demars Financial Group LLC boosted its holdings in shares of W. P. Carey by 2.2% in the third quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust’s stock worth $616,000 after acquiring an additional 216 shares during the period. Capital Investment Advisory Services LLC grew its position 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 valued at $474,000 after purchasing an additional 259 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in shares of W. P. Carey by 7.7% during the 4th quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock valued at $206,000 after purchasing an additional 271 shares during the period. Institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

WPC has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. UBS Group cut their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, November 14th. Scotiabank decreased their target price 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. Finally, Barclays lowered their target price on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.00.

W. P. Carey Price Performance

Shares of W. P. Carey stock opened at $56.16 on Wednesday. The company’s fifty day simple moving average is $55.29 and its two-hundred day simple moving average is $57.60. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $64.26. The firm has a market cap of $12.29 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. 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 announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 6.27%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is currently 138.58%.

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.