Curi RMB Capital LLC Sells 3,871 Shares of W. P. Carey Inc. (NYSE:WPC)

Curi RMB Capital LLC lowered its holdings in W. P. Carey Inc. (NYSE:WPC) by 29.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,218 shares of the real estate investment trust’s stock after selling 3,871 shares during the period. Curi RMB Capital LLC’s holdings in W. P. Carey were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPC. Adams Wealth Management grew its holdings in shares of W. P. Carey by 33.5% in the 4th quarter. Adams Wealth Management now owns 11,675 shares of the real estate investment trust’s stock valued at $635,000 after acquiring an additional 2,930 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in W. P. Carey by 3.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 454,720 shares of the real estate investment trust’s stock valued at $24,766,000 after purchasing an additional 14,505 shares in the last quarter. Demars Financial Group LLC grew its stake in W. P. Carey by 10,001.1% in the fourth quarter. Demars Financial Group LLC now owns 998,292 shares of the real estate investment trust’s stock valued at $54,387,000 after purchasing an additional 988,409 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of W. P. Carey by 6.3% during the 4th quarter. NewEdge Advisors LLC now owns 8,196 shares of the real estate investment trust’s stock worth $447,000 after purchasing an additional 485 shares during the last quarter. Finally, CacheTech Inc. boosted its holdings in shares of W. P. Carey by 33.5% in the 4th quarter. CacheTech Inc. now owns 11,675 shares of the real estate investment trust’s stock valued at $635,000 after buying an additional 2,930 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WPC shares. Wells Fargo & Company boosted their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Scotiabank boosted their price objective on shares of 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. Evercore ISI raised their target price on shares of 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. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, Barclays raised their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $63.75.

W. P. Carey Price Performance

Shares of NYSE WPC opened at $61.37 on Tuesday. The firm has a market cap of $13.44 billion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 1.06 and a beta of 0.81. The business’s 50 day moving average is $61.48 and its 200-day moving average is $58.08. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.89 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.56 annualized dividend and a yield of 5.80%. W. P. Carey’s dividend payout ratio (DPR) is presently 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.