Avantax Planning Partners Inc. Sells 1,017 Shares of W. P. Carey Inc. (NYSE:WPC)

Avantax Planning Partners Inc. lessened its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 23.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,379 shares of the real estate investment trust’s stock after selling 1,017 shares during the period. Avantax Planning Partners Inc.’s holdings in W. P. Carey were worth $219,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. SageView Advisory Group LLC boosted its stake in W. P. Carey by 41.8% in the 4th quarter. SageView Advisory Group LLC now owns 13,461 shares of the real estate investment trust’s stock worth $839,000 after purchasing an additional 3,967 shares in the last quarter. US Bancorp DE boosted its stake in W. P. Carey by 4.8% in the 4th quarter. US Bancorp DE now owns 34,959 shares of the real estate investment trust’s stock worth $2,266,000 after purchasing an additional 1,586 shares in the last quarter. Tidemark LLC bought a new position in W. P. Carey in the 4th quarter worth about $42,000. Ontario Teachers Pension Plan Board lifted its stake in W. P. Carey by 80.7% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 23,961 shares of the real estate investment trust’s stock valued at $1,553,000 after acquiring an additional 10,699 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in W. P. Carey by 83.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,792 shares of the real estate investment trust’s stock valued at $116,000 after acquiring an additional 817 shares during the period. Institutional investors own 73.73% of the company’s stock.

Wall Street Analysts Forecast Growth

WPC has been the topic of several research analyst reports. Raymond James cut shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research note on Monday, February 12th. Royal Bank of Canada lowered their target price on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Wells Fargo & Company reduced their price target on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 20th. Barclays began coverage on shares of W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target for the company. Finally, Scotiabank upped 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 research report on Thursday, May 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, W. P. Carey currently has an average rating of “Hold” and an average target price of $63.18.

W. P. Carey Stock Performance

NYSE WPC traded down $0.55 on Friday, reaching $56.78. 1,130,107 shares of the stock were exchanged, compared to its average volume of 1,093,909. W. P. Carey Inc. has a one year low of $51.36 and a one year high of $73.38. The firm has a market capitalization of $12.42 billion, a PE ratio of 21.59, a PEG ratio of 1.06 and a beta of 0.86. The company’s 50-day simple moving average is $56.50 and its two-hundred day simple moving average is $59.38. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.87.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.865 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.86. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 dividend on an annualized basis and a yield of 6.09%. W. P. Carey’s dividend payout ratio (DPR) is presently 131.56%.

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.