Naples Global Advisors LLC Sells 235 Shares of W. P. Carey Inc. (NYSE:WPC)

Posted by Defense World Staff on Mar 30th, 2023

Naples Global Advisors LLC lessened its stake in shares of W. P. Carey Inc. (NYSE:WPC – Get Rating) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,575 shares of the real estate investment trust’s stock after selling 235 shares during the quarter. Naples Global Advisors LLC’s holdings in W. P. Carey were worth $442,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of WPC. State Street Corp lifted its position in shares of W. P. Carey by 17.1% during the 1st quarter. State Street Corp now owns 9,572,789 shares of the real estate investment trust’s stock worth $783,467,000 after buying an additional 1,400,997 shares during the period. PGGM Investments acquired a new stake in W. P. Carey during the 3rd quarter valued at $85,049,000. Vanguard Group Inc. increased its holdings in W. P. Carey by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 27,334,613 shares of the real estate investment trust’s stock valued at $2,209,731,000 after purchasing an additional 1,016,340 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in W. P. Carey by 37.7% during the 3rd quarter. Commonwealth Equity Services LLC now owns 1,960,968 shares of the real estate investment trust’s stock valued at $136,875,000 after purchasing an additional 537,114 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in W. P. Carey by 22.0% during the 2nd quarter. Legal & General Group Plc now owns 2,557,470 shares of the real estate investment trust’s stock valued at $211,913,000 after purchasing an additional 460,939 shares in the last quarter. Institutional investors own 62.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $86.00 price objective on shares of W. P. Carey in a research note on Tuesday, March 21st. Raymond James boosted their price target on W. P. Carey from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Monday, December 19th. Capital One Financial reiterated an “overweight” rating on shares of W. P. Carey in a report on Monday, December 5th. StockNews.com assumed coverage on W. P. Carey in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada upped their target price on W. P. Carey from $86.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, February 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, W. P. Carey presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.80.

W. P. Carey Trading Up 1.6 %

Shares of NYSE:WPC opened at $78.21 on Thursday. The business’s 50 day simple moving average is $81.60 and its 200 day simple moving average is $79.11. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.27 and a quick ratio of 0.27. W. P. Carey Inc. has a 1 year low of $67.76 and a 1 year high of $89.63. The company has a market capitalization of $16.47 billion, a P/E ratio of 26.16, a P/E/G ratio of 11.16 and a beta of 0.77.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Friday, March 31st will be paid a $1.067 dividend. This represents a $4.27 dividend on an annualized basis and a dividend yield of 5.46%. This is a boost from W. P. Carey’s previous quarterly dividend of $1.07. The ex-dividend date is Thursday, March 30th. W. P. Carey’s dividend payout ratio is presently 142.47%.

W. P. Carey Profile

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W.P. Carey, Inc is an investment trust company, which engages in the commercial real estate business. It operates through the Real Estate and Investment Management segments. The Real Estate segment owns and invests in commercial real estate properties. The Investment Management segment structures and negotiates investments and debt placement transactions for real estate investment trusts, and manages portfolios of real estate investments.