Cozad Asset Management Inc. Sells 8,914 Shares of W. P. Carey Inc. (NYSE:WPC)

Cozad Asset Management Inc. trimmed its holdings in W. P. Carey Inc. (NYSE:WPC) by 15.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,013 shares of the real estate investment trust’s stock after selling 8,914 shares during the quarter. Cozad Asset Management Inc.’s holdings in W. P. Carey were worth $2,670,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. RFG Advisory LLC raised its stake 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 purchasing an additional 3,049 shares in the last quarter. Equity Investment Corp raised its stake in shares of W. P. Carey by 0.7% in 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 purchasing an additional 9,610 shares in the last quarter. Stifel Financial Corp raised its stake in shares of 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 valued at $1,980,000 after purchasing an additional 2,075 shares in the last quarter. FMR LLC raised its stake in shares of W. P. Carey by 103.3% in the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock valued at $50,219,000 after purchasing an additional 409,593 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of W. P. Carey in the third quarter valued at $1,267,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on WPC. Evercore ISI upped their target price on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Wells Fargo & Company increased their price objective on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, March 10th. Barclays increased their price objective on W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 4th. Finally, Scotiabank increased their price objective on W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $63.75.

W. P. Carey Stock Performance

Shares of NYSE:WPC opened at $62.64 on Monday. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The firm has a market cap of $13.71 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The business has a fifty day moving average of $58.57 and a 200-day moving average of $58.30.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.89 dividend. The ex-dividend date is Monday, March 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.68%. W. P. Carey’s dividend payout ratio (DPR) is 170.33%.

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.