J.P. Morgan Private Wealth Advisors LLC Sells 5,453 Shares of W. P. Carey Inc. (NYSE:WPC)

J.P. Morgan Private Wealth Advisors LLC cut its stake in shares of W. P. Carey Inc. (NYSE:WPCFree Report) by 12.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 40,173 shares of the real estate investment trust’s stock after selling 5,453 shares during the period. J.P. Morgan Private Wealth Advisors LLC’s holdings in W. P. Carey were worth $2,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its holdings in shares of W. P. Carey by 20.6% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 786 shares of the real estate investment trust’s stock valued at $63,000 after acquiring an additional 134 shares in the last quarter. Arbor Capital Management Inc. ADV increased its holdings in shares of W. P. Carey by 1.5% during the first quarter. Arbor Capital Management Inc. ADV now owns 9,465 shares of the real estate investment trust’s stock valued at $706,000 after acquiring an additional 143 shares in the last quarter. Capital Investment Advisory Services LLC boosted its position in shares of W. P. Carey by 1.8% during the second quarter. Capital Investment Advisory Services LLC now owns 9,004 shares of the real estate investment trust’s stock valued at $608,000 after buying an additional 156 shares during the last quarter. Family Legacy Inc. boosted its position in shares of W. P. Carey by 1.9% during the second quarter. Family Legacy Inc. now owns 8,500 shares of the real estate investment trust’s stock valued at $574,000 after buying an additional 161 shares during the last quarter. Finally, Kerntke Otto McGlone Wealth Management Group boosted its position in shares of W. P. Carey by 2.6% during the second quarter. Kerntke Otto McGlone Wealth Management Group now owns 6,507 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 162 shares during the last quarter. 62.62% of the stock is currently owned by institutional investors.

W. P. Carey Trading Down 6.5 %

Shares of NYSE:WPC opened at $57.38 on Friday. The stock has a market capitalization of $12.55 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 7.70 and a beta of 0.89. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.12 and a current ratio of 0.12. The stock’s 50-day simple moving average is $64.23 and its two-hundred day simple moving average is $61.40. W. P. Carey Inc. has a 52-week low of $51.36 and a 52-week high of $85.36.

W. P. Carey Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a dividend of $0.86 per share. The ex-dividend date was Thursday, December 28th. This represents a $3.44 dividend on an annualized basis and a dividend yield of 6.00%. W. P. Carey’s payout ratio is currently 94.51%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WPC shares. StockNews.com started coverage on W. P. Carey in a research report on Thursday, January 4th. They set a “hold” rating on the stock. Raymond James increased their price objective on W. P. Carey from $63.00 to $68.00 and gave the company an “outperform” rating in a research report on Monday, January 8th. JMP Securities cut W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, November 13th. Finally, Royal Bank of Canada increased their price objective on W. P. Carey from $66.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $66.60.

Get Our Latest Report on W. P. Carey

W. P. Carey Profile

(Free Report)

Celebrating its 50th anniversary, 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 1,413 net lease properties covering approximately 171 million square feet and a portfolio of 86 self-storage operating properties, pro forma for the Spin-Off of NLOP, as of September 30, 2023.

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Institutional Ownership by Quarter for W. P. Carey (NYSE:WPC)

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