Cambridge Investment Research Advisors Inc. Sells 37,281 Shares of W. P. Carey Inc. (NYSE:WPC)

Cambridge Investment Research Advisors Inc. cut its stake in W. P. Carey Inc. (NYSE:WPC) by 16.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,327 shares of the real estate investment trust’s stock after selling 37,281 shares during the quarter. Cambridge Investment Research Advisors Inc. owned about 0.08% of W. P. Carey worth $12,011,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. First United Bank & Trust purchased a new stake in shares of W. P. Carey in the 4th quarter worth about $27,000. Central Bank & Trust Co. purchased a new stake in shares of W. P. Carey in the 4th quarter worth about $28,000. FNY Investment Advisers LLC purchased a new stake in shares of W. P. Carey in the 4th quarter worth about $32,000. EdgeRock Capital LLC purchased a new stake in shares of W. P. Carey in the 4th quarter worth about $32,000. Finally, Tidemark LLC purchased a new stake in shares of W. P. Carey in the 4th quarter worth about $42,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $56.78 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.90 and a quick ratio of 0.90. W. P. Carey Inc. has a 1-year low of $51.36 and a 1-year high of $73.38. The company has a market capitalization of $12.42 billion, a P/E ratio of 21.59, a P/E/G ratio of 1.06 and a beta of 0.86. The firm’s 50 day simple moving average is $56.50 and its two-hundred day simple moving average is $59.38.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.865 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.46 annualized dividend and a yield of 6.09%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.86. W. P. Carey’s payout ratio is currently 131.56%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WPC. Scotiabank upped their target price on shares of W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Barclays began coverage on shares of W. P. Carey in a research report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective on the stock. Raymond James downgraded shares of W. P. Carey from an “outperform” rating to a “market perform” rating in a research report on Monday, February 12th. Wells Fargo & Company cut their price objective on shares of W. P. Carey from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada cut their price objective on shares of W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $63.18.

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.