Armstrong Fleming & Moore Inc Sells 43,569 Shares of W. P. Carey Inc. (NYSE:WPC)

Armstrong Fleming & Moore Inc trimmed its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 82.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,254 shares of the real estate investment trust’s stock after selling 43,569 shares during the period. Armstrong Fleming & Moore Inc’s holdings in W. P. Carey were worth $504,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of WPC. National Pension Service bought a new position in W. P. Carey in the 4th quarter valued at $25,000. Maia Wealth LLC acquired a new position in shares of W. P. Carey during the third quarter valued at $40,000. Abich Financial Wealth Management LLC boosted its holdings in W. P. Carey by 2,374.1% in the third quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 641 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey in the fourth quarter worth about $37,000. Finally, Fortitude Family Office LLC raised its holdings in W. P. Carey by 962.5% during the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 616 shares during the last quarter. 73.73% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WPC. Royal Bank of Canada increased their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Finally, Evercore ISI increased their price target on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.38.

W. P. Carey Stock Performance

NYSE WPC opened at $64.31 on Wednesday. The stock has a market cap of $14.07 billion, a PE ratio of 30.77, a P/E/G ratio of 1.06 and a beta of 0.97. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a 50-day moving average of $56.15 and a 200-day moving average of $57.79. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $64.63.

W. P. Carey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.88 dividend. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a dividend yield of 5.47%. W. P. Carey’s dividend payout ratio is presently 168.42%.

W. P. Carey Company 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.