W. P. Carey Inc. (NYSE:WPC) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC boosted its stake in W. P. Carey Inc. (NYSE:WPC) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,917 shares of the real estate investment trust’s stock after acquiring an additional 339 shares during the quarter. Wealthspire Advisors LLC’s holdings in W. P. Carey were worth $649,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Harbour Investments Inc. grew its holdings in W. P. Carey by 5.9% during the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock valued at $226,000 after purchasing an additional 203 shares in the last quarter. Demars Financial Group LLC boosted its position in W. P. Carey by 2.2% in the 3rd quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust’s stock valued at $616,000 after buying an additional 216 shares during the last quarter. Capital Investment Advisory Services LLC increased its position in shares of W. P. Carey by 3.1% during the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock worth $474,000 after acquiring an additional 259 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of W. P. Carey by 7.7% in the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 271 shares in the last quarter. Finally, Cooper Financial Group boosted its holdings in W. P. Carey by 2.4% in the fourth quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock valued at $649,000 after purchasing an additional 276 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Evercore ISI lifted their price objective on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. UBS Group dropped 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 research note on Thursday, November 14th. 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. Royal Bank of Canada boosted their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Finally, BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, W. P. Carey currently has a consensus rating of “Hold” and an average target price of $62.38.

W. P. Carey Price Performance

Shares of NYSE:WPC opened at $64.31 on Wednesday. The company has a market cap of $14.07 billion, a PE ratio of 30.77, a P/E/G ratio of 1.06 and a beta of 0.97. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $64.63. The firm has a 50-day simple moving average of $56.15 and a 200 day simple moving average of $57.79. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

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

W. P. Carey 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.