W. P. Carey Inc. (NYSE:WPC) Shares Sold by Seneca House Advisors

Seneca House Advisors cut its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 0.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 115,690 shares of the real estate investment trust’s stock after selling 377 shares during the period. W. P. Carey makes up approximately 2.8% of Seneca House Advisors’ holdings, making the stock its 15th largest holding. Seneca House Advisors owned about 0.05% of W. P. Carey worth $6,530,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in W. P. Carey by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock worth $1,995,114,000 after acquiring an additional 657,188 shares in the last quarter. Cohen & Steers Inc. increased its holdings in W. P. Carey by 91.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,290,841 shares of the real estate investment trust’s stock worth $731,800,000 after purchasing an additional 5,407,289 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in W. P. Carey by 44.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,640,966 shares of the real estate investment trust’s stock worth $235,971,000 after purchasing an additional 1,124,010 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in W. P. Carey by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,038,074 shares of the real estate investment trust’s stock worth $196,902,000 after purchasing an additional 43,959 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in W. P. Carey by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 2,835,656 shares of the real estate investment trust’s stock worth $153,352,000 after purchasing an additional 37,055 shares during the last quarter. 73.73% of the stock is owned by institutional investors and hedge funds.

W. P. Carey Stock Performance

WPC traded up $0.27 during trading on Friday, reaching $55.05. 2,302,715 shares of the company were exchanged, compared to its average volume of 1,437,634. The stock has a market cap of $12.05 billion, a P/E ratio of 20.93, a PEG ratio of 1.02 and a beta of 0.91. The firm has a 50 day moving average of $56.69 and a 200 day moving average of $58.72. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.87. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $73.38.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.87 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date is Friday, June 28th. W. P. Carey’s dividend payout ratio is presently 131.56%.

Analyst Ratings Changes

WPC has been the topic of several analyst reports. Barclays initiated coverage on W. P. Carey in a report on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective on the stock. Wells Fargo & Company lowered their price target on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. UBS Group initiated coverage on W. P. Carey in a report on Friday, May 31st. They issued a “neutral” rating and a $57.00 price target for the company. Royal Bank of Canada lowered their price target on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Finally, JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.70.

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.