B. Riley Wealth Advisors Inc. Sells 2,058 Shares of W. P. Carey Inc. (NYSE:WPC)

B. Riley Wealth Advisors Inc. decreased its holdings in W. P. Carey Inc. (NYSE:WPC) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,046 shares of the real estate investment trust’s stock after selling 2,058 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in W. P. Carey were worth $923,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WPC. Cohen & Steers Inc. lifted its stake in W. P. Carey by 91.9% in the fourth 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. Norges Bank bought a new stake in W. P. Carey in the fourth quarter worth about $157,107,000. Daiwa Securities Group Inc. lifted its stake in W. P. Carey by 44.7% in the fourth 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. Principal Financial Group Inc. lifted its stake in W. P. Carey by 4,716.5% in the fourth quarter. Principal Financial Group Inc. now owns 802,426 shares of the real estate investment trust’s stock worth $52,005,000 after purchasing an additional 785,766 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in W. P. Carey by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 30,784,040 shares of the real estate investment trust’s stock worth $1,995,114,000 after purchasing an additional 657,188 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC stock opened at $55.64 on Friday. The firm has a market cap of $12.18 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 1.03 and a beta of 0.91. The company’s 50 day moving average is $56.58 and its 200 day moving average is $59.15. The company has a quick ratio of 0.90, a current 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 company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.87 dividend. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. This represents a $3.48 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend is Friday, June 28th. W. P. Carey’s payout ratio is currently 132.32%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WPC. UBS Group assumed coverage on shares of W. P. Carey in a research note on Friday, May 31st. They issued a “neutral” rating and a $57.00 price objective for the company. Barclays assumed 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 target price on the stock. Wells Fargo & Company reduced their target price on shares of W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. Royal Bank of Canada reduced their target price 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. Finally, Scotiabank raised 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $61.55.

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.