Choreo LLC Reduces Stake in W. P. Carey Inc. (NYSE:WPC)

Choreo LLC lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 35.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,494 shares of the real estate investment trust’s stock after selling 3,069 shares during the period. Choreo LLC’s holdings in W. P. Carey were worth $300,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Maia Wealth LLC acquired a new stake in W. P. Carey in the 3rd quarter valued at about $40,000. Abich Financial Wealth Management LLC grew its stake in shares of W. P. Carey by 2,374.1% in the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 641 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of W. P. Carey by 962.5% in the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after buying an additional 616 shares during the period. RPg Family Wealth Advisory LLC acquired a new stake in shares of W. P. Carey in the 3rd quarter valued at approximately $44,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in W. P. Carey by 70.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 824 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 341 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $58.89 on Friday. The stock has a fifty day moving average of $55.39 and a 200-day moving average of $57.61. The company has a market capitalization of $12.89 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. W. P. Carey Inc. has a one year low of $52.91 and a one year high of $64.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.98%. W. P. Carey’s dividend payout ratio is 168.42%.

Analysts Set New Price Targets

WPC has been the subject of several recent research reports. Scotiabank dropped their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Barclays reduced their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 4th. UBS Group cut their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Thursday. Finally, Royal Bank of Canada upped their target price on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and a consensus target price of $62.00.

W. P. Carey 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.