Cohen Capital Management Inc. Buys 253 Shares of W. P. Carey Inc. (NYSE:WPC)

Cohen Capital Management Inc. lifted its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,788 shares of the real estate investment trust’s stock after acquiring an additional 253 shares during the period. Cohen Capital Management Inc.’s holdings in W. P. Carey were worth $3,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. First United Bank & Trust acquired a new stake in shares of W. P. Carey in the 4th quarter valued at about $27,000. Central Bank & Trust Co. acquired a new stake in W. P. Carey in the 4th quarter valued at approximately $28,000. Richardson Financial Services Inc. bought a new stake in W. P. Carey in the 1st quarter valued at approximately $26,000. Riverview Trust Co acquired a new position in W. P. Carey during the 1st quarter worth approximately $28,000. Finally, FNY Investment Advisers LLC bought a new position in shares of W. P. Carey during the 4th quarter worth approximately $32,000. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WPC. Scotiabank boosted their price objective 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. Wells Fargo & Company decreased their price objective 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. Royal Bank of Canada dropped their target price on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, June 21st. Finally, UBS Group began coverage on W. P. Carey in a research note on Friday, May 31st. They set a “neutral” rating and a $57.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $59.70.

W. P. Carey Stock Performance

Shares of NYSE WPC traded up $2.46 during trading hours on Thursday, reaching $57.57. 2,237,749 shares of the stock were exchanged, compared to its average volume of 1,322,490. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. The stock’s fifty day simple moving average is $56.61 and its 200 day simple moving average is $58.22. W. P. Carey Inc. has a 52 week low of $51.36 and a 52 week high of $73.38. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 21.89, a P/E/G ratio of 1.02 and a beta of 0.93.

W. P. Carey Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.48 dividend on an annualized basis and a yield of 6.04%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.87. W. P. Carey’s payout ratio is currently 132.32%.

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.