W. P. Carey Inc. (NYSE:WPC) Shares Sold by New Insight Wealth Advisors

New Insight Wealth Advisors trimmed its position in W. P. Carey Inc. (NYSE:WPC) by 6.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,018 shares of the real estate investment trust’s stock after selling 3,468 shares during the period. W. P. Carey makes up about 1.4% of New Insight Wealth Advisors’ portfolio, making the stock its 18th largest holding. New Insight Wealth Advisors’ holdings in W. P. Carey were worth $2,725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. National Pension Service acquired a new position in W. P. Carey during the fourth quarter worth about $25,000. Wingate Wealth Advisors Inc. bought a new position in shares of W. P. Carey during the 4th quarter valued at about $37,000. RPg Family Wealth Advisory LLC acquired a new position in shares of W. P. Carey in the 3rd quarter worth approximately $44,000. Plato Investment Management Ltd bought a new stake in shares of W. P. Carey in the 4th quarter worth approximately $48,000. Finally, Roxbury Financial LLC acquired a new stake in W. P. Carey during the fourth quarter valued at approximately $58,000. 73.73% of the stock is owned by institutional investors.

W. P. Carey Trading Up 1.2 %

Shares of NYSE WPC opened at $64.74 on Monday. The stock has a market cap of $14.17 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 1.06 and a beta of 0.95. The business has a 50 day simple moving average of $57.75 and a 200 day simple moving average of $58.19. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $65.45.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.44%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is currently 168.42%.

Wall Street Analyst Weigh In

WPC has been the topic of several research reports. UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, November 14th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Scotiabank dropped their price target on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. Evercore ISI upped their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, February 19th. Finally, Barclays lifted their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. One 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, W. P. Carey currently has an average rating of “Hold” and a consensus price target of $62.88.

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.