Meritage Portfolio Management Sells 5,745 Shares of W. P. Carey Inc. (NYSE:WPC)

Meritage Portfolio Management cut its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 6.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,323 shares of the real estate investment trust’s stock after selling 5,745 shares during the quarter. Meritage Portfolio Management’s holdings in W. P. Carey were worth $4,322,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. RFG Advisory LLC increased its position in shares of 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 during the last quarter. Equity Investment Corp increased its position 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 worth $92,305,000 after purchasing an additional 9,610 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of W. P. Carey during the 3rd quarter worth approximately $1,692,000. abrdn plc boosted its holdings in shares of 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 buying an additional 9,229 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of 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 buying an additional 2,075 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

W. P. Carey Trading Down 0.5 %

Shares of NYSE:WPC opened at $55.18 on Wednesday. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $64.26. The business has a 50 day moving average of $55.36 and a 200-day moving average of $57.71. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. The stock has a market cap of $12.08 billion, a PE ratio of 21.72, a P/E/G ratio of 1.01 and a beta of 0.97.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 6.38%. This is a positive change 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 is currently 138.58%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WPC shares. Barclays dropped their price target on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Scotiabank dropped their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Finally, UBS Group cut their price objective on 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.00.

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.