Armstrong Fleming & Moore Inc Has $504,000 Holdings in W. P. Carey Inc. (NYSE:WPC)

Armstrong Fleming & Moore Inc trimmed its holdings in W. P. Carey Inc. (NYSE:WPC) by 82.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,254 shares of the real estate investment trust’s stock after selling 43,569 shares during the period. Armstrong Fleming & Moore Inc’s holdings in W. P. Carey were worth $504,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Sabal Trust CO acquired a new stake in shares of W. P. Carey during the 4th quarter worth $1,031,000. National Pension Service acquired a new stake in W. P. Carey during the fourth quarter worth about $25,000. Illinois Municipal Retirement Fund increased its holdings in W. P. Carey by 12.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 215,332 shares of the real estate investment trust’s stock valued at $11,731,000 after buying an additional 24,606 shares during the period. Amalgamated Bank raised its position in shares of W. P. Carey by 0.3% in the 4th quarter. Amalgamated Bank now owns 104,538 shares of the real estate investment trust’s stock valued at $5,695,000 after buying an additional 337 shares in the last quarter. Finally, Transcendent Capital Group LLC lifted its holdings in shares of W. P. Carey by 726.2% during the 4th quarter. Transcendent Capital Group LLC now owns 4,850 shares of the real estate investment trust’s stock worth $264,000 after acquiring an additional 4,263 shares during the period. 73.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WPC has been the subject of several research analyst reports. Evercore ISI boosted 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 report on Wednesday, February 19th. Royal Bank of Canada lifted their price target on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Scotiabank reduced their price objective on shares of 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. UBS Group lowered their price target on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Finally, JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $62.38.

W. P. Carey Stock Performance

Shares of WPC stock opened at $64.31 on Wednesday. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $64.63. The firm has a market capitalization of $14.07 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 1.06 and a beta of 0.97. The firm has a fifty day simple moving average of $56.15 and a two-hundred day simple moving average of $57.79. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is currently 168.42%.

About W. P. Carey

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.