W. P. Carey Inc. (NYSE:WPC) Shares Sold by MADDEN SECURITIES Corp

MADDEN SECURITIES Corp decreased its stake in W. P. Carey Inc. (NYSE:WPC) by 4.6% during the 4th quarter, HoldingsChannel reports. The firm owned 5,990 shares of the real estate investment trust’s stock after selling 290 shares during the period. MADDEN SECURITIES Corp’s holdings in W. P. Carey were worth $326,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WPC. RFG Advisory LLC boosted its stake in W. P. Carey by 91.7% during the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after purchasing an additional 3,049 shares during the period. Equity Investment Corp raised its holdings in shares of W. P. Carey by 0.7% during the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after buying an additional 9,610 shares during the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of W. P. Carey during the third quarter worth approximately $1,692,000. abrdn plc increased its position in W. P. Carey by 9.9% in the 3rd quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock valued at $6,396,000 after acquiring an additional 9,229 shares during the period. Finally, Stifel Financial Corp increased its position in W. P. Carey by 7.0% in the 3rd quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock valued at $1,980,000 after acquiring an additional 2,075 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

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

W. P. Carey Price Performance

NYSE:WPC opened at $55.78 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. The firm has a fifty day simple moving average of $55.28 and a 200 day simple moving average of $57.63. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $64.26. The stock has a market capitalization of $12.21 billion, a PE ratio of 21.96, a P/E/G ratio of 1.02 and a beta of 0.97.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 6.31%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey’s payout ratio is 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.