Gradient Capital Advisors LLC Lowers Holdings in W. P. Carey Inc. (NYSE:WPC)

Gradient Capital Advisors LLC trimmed its holdings in W. P. Carey Inc. (NYSE:WPC) by 3.8% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 32,894 shares of the real estate investment trust’s stock after selling 1,286 shares during the period. Gradient Capital Advisors LLC’s holdings in W. P. Carey were worth $1,857,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. First United Bank & Trust purchased a new position in shares of W. P. Carey during the fourth quarter worth $27,000. Central Bank & Trust Co. acquired a new stake in shares of W. P. Carey in the fourth quarter valued at $28,000. Riverview Trust Co acquired a new stake in shares of W. P. Carey in the first quarter valued at $28,000. FNY Investment Advisers LLC acquired a new stake in shares of W. P. Carey in the fourth quarter valued at $32,000. Finally, EdgeRock Capital LLC acquired a new stake in W. P. Carey in the fourth quarter valued at $32,000. 73.73% of the stock is currently owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

Shares of WPC stock traded up $0.27 during midday trading on Friday, reaching $55.05. 2,302,715 shares of the company traded hands, compared to its average volume of 1,437,634. The firm’s 50 day simple moving average is $56.69 and its two-hundred day simple moving average is $58.77. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $73.38. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $12.05 billion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.02 and a beta of 0.91.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.87 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a dividend yield of 6.32%. The ex-dividend date is Friday, June 28th. W. P. Carey’s payout ratio is currently 131.56%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. Royal Bank of Canada dropped their price objective on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Wells Fargo & Company dropped their price objective on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a report on Thursday, May 30th. Scotiabank raised their price target on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a report on Thursday, May 16th. Finally, Barclays started coverage on W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $59.70.

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.