Cibc World Markets Corp Acquires 2,957 Shares of W. P. Carey Inc. (NYSE:WPC)

Cibc World Markets Corp lifted its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,544 shares of the real estate investment trust’s stock after purchasing an additional 2,957 shares during the quarter. Cibc World Markets Corp’s holdings in W. P. Carey were worth $4,007,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. HighTower Advisors LLC boosted its position in shares of W. P. Carey by 0.4% during the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock worth $2,418,000 after acquiring an additional 193 shares in the last quarter. Capital Investment Advisory Services LLC boosted its position in shares of W. P. Carey by 3.1% during the 4th 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 in the last quarter. Empowered Funds LLC boosted its position in shares of W. P. Carey by 7.7% during the 4th 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. Cooper Financial Group boosted its position in shares of W. P. Carey by 2.4% during the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock worth $649,000 after acquiring an additional 276 shares in the last quarter. Finally, Impact Partnership Wealth LLC boosted its position in shares of W. P. Carey by 3.6% during the 4th quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust’s stock worth $452,000 after acquiring an additional 289 shares in the last quarter. 73.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WPC shares. Barclays increased their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 4th. Scotiabank increased their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 12th. Evercore ISI raised their target price 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 raised their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Finally, BMO Capital Markets upgraded shares of W. P. Carey from a “market perform” rating to an “outperform” rating and raised their target price for the company 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 given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $63.75.

W. P. Carey Price Performance

WPC stock opened at $61.73 on Thursday. The company has a fifty day moving average price of $59.00 and a 200-day moving average price of $58.36. The company has a market capitalization of $13.51 billion, a P/E ratio of 29.54, a PEG ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $66.10. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.89 per share. The ex-dividend date is Monday, March 31st. This represents a $3.56 annualized dividend and a dividend yield of 5.77%. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is presently 170.33%.

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.