Wambolt & Associates LLC Sells 2,678 Shares of W. P. Carey Inc. (NYSE:WPC)

Wambolt & Associates LLC lessened its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 27.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,216 shares of the real estate investment trust’s stock after selling 2,678 shares during the quarter. Wambolt & Associates LLC’s holdings in W. P. Carey were worth $405,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Diversify Advisory Services LLC purchased a new position in W. P. Carey in the 1st quarter valued at approximately $277,000. Retirement Systems of Alabama grew its position in shares of W. P. Carey by 0.3% in the first quarter. Retirement Systems of Alabama now owns 274,596 shares of the real estate investment trust’s stock valued at $15,498,000 after purchasing an additional 721 shares in the last quarter. Norden Group LLC bought a new stake in shares of W. P. Carey during the 1st quarter valued at $277,000. Van ECK Associates Corp lifted its holdings in W. P. Carey by 12.7% during the 1st quarter. Van ECK Associates Corp now owns 91,076 shares of the real estate investment trust’s stock worth $5,140,000 after purchasing an additional 10,290 shares in the last quarter. Finally, HB Wealth Management LLC boosted its stake in W. P. Carey by 6.2% in the 1st quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock worth $202,000 after purchasing an additional 208 shares during the period. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. Scotiabank raised their price target on shares of W. P. Carey from $55.00 to $60.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Royal Bank of Canada decreased their price target on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. UBS Group assumed coverage on W. P. Carey in a research note on Friday, May 31st. They set a “neutral” rating and a $57.00 price objective for the company. Finally, Wells Fargo & Company lowered their target price on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and an average price target of $59.70.

W. P. Carey Trading Up 0.3 %

NYSE:WPC traded up $0.15 during trading hours on Friday, reaching $55.04. The company’s stock had a trading volume of 1,418,162 shares, compared to its average volume of 1,267,088. The firm has a market capitalization of $12.04 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 1.02 and a beta of 0.93. The firm has a 50-day simple moving average of $56.58 and a 200-day simple moving average of $58.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. W. P. Carey Inc. has a 1 year low of $51.36 and a 1 year high of $73.38.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a $0.87 dividend. This is a boost from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date is Friday, June 28th. W. P. Carey’s payout ratio is 132.32%.

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.