W. P. Carey Inc. (NYSE:WPC) Shares Sold by Truvestments Capital LLC

Truvestments Capital LLC decreased its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 75.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,134 shares of the real estate investment trust’s stock after selling 15,905 shares during the period. Truvestments Capital LLC’s holdings in W. P. Carey were worth $290,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SRS Capital Advisors Inc. lifted its position in W. P. Carey by 1.1% during the 4th quarter. SRS Capital Advisors Inc. now owns 16,922 shares of the real estate investment trust’s stock worth $1,097,000 after acquiring an additional 191 shares during the period. Gradient Capital Advisors LLC raised its position in W. P. Carey by 0.6% during the 4th quarter. Gradient Capital Advisors LLC now owns 34,180 shares of the real estate investment trust’s stock worth $2,215,000 after buying an additional 199 shares during the last quarter. Accurate Wealth Management LLC lifted its stake in shares of W. P. Carey by 5.6% in the 1st quarter. Accurate Wealth Management LLC now owns 3,913 shares of the real estate investment trust’s stock worth $220,000 after acquiring an additional 208 shares during the period. HB Wealth Management LLC boosted its holdings in shares of W. P. Carey by 6.2% in the first quarter. HB Wealth Management LLC now owns 3,576 shares of the real estate investment trust’s stock valued at $202,000 after acquiring an additional 208 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in W. P. Carey by 3.2% during the fourth quarter. Fisher Asset Management LLC now owns 6,811 shares of the real estate investment trust’s stock worth $441,000 after purchasing an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on WPC. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research report on Friday, June 21st. 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. UBS Group raised their target price on W. P. Carey from $57.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Scotiabank upped their price target on shares of W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of W. P. Carey from $70.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $61.00.

W. P. Carey Price Performance

NYSE:WPC traded up $1.42 during trading hours on Friday, reaching $60.64. 853,763 shares of the company traded hands, compared to its average volume of 1,072,603. 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’s 50-day moving average is $56.77 and its 200-day moving average is $57.68. The stock has a market cap of $13.27 billion, a P/E ratio of 23.06, a P/E/G ratio of 1.10 and a beta of 0.93. 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 disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.87 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a dividend yield of 5.74%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s dividend payout ratio (DPR) is presently 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.