Millstone Evans Group LLC Takes $37,000 Position in W. P. Carey Inc. (NYSE:WPC)

Millstone Evans Group LLC acquired a new position in W. P. Carey Inc. (NYSE:WPC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 672 shares of the real estate investment trust’s stock, valued at approximately $37,000.

Several other large investors also recently added to or reduced their stakes in the business. National Pension Service purchased a new position in shares of W. P. Carey during the 4th quarter worth $25,000. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey in the 4th quarter worth $37,000. RPg Family Wealth Advisory LLC bought a new stake in W. P. Carey during the third quarter valued at about $44,000. Plato Investment Management Ltd purchased a new stake in W. P. Carey in the fourth quarter worth about $48,000. Finally, Roxbury Financial LLC bought a new position in shares of W. P. Carey in the fourth quarter worth about $58,000. 73.73% of the stock is currently owned by institutional investors.

W. P. Carey Stock Down 0.2 %

Shares of WPC stock opened at $61.35 on Tuesday. The company’s fifty day simple moving average is $59.44 and its two-hundred day simple moving average is $58.37. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $66.10. The stock has a market cap of $13.43 billion, a P/E ratio of 29.36, a PEG ratio of 1.06 and a beta of 0.95. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.89 per share. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.56 dividend on an annualized basis and a yield of 5.80%. W. P. Carey’s dividend payout ratio is presently 170.33%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on WPC shares. Barclays boosted their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a research note on Tuesday, March 4th. Evercore ISI increased their price objective on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, February 19th. Wells Fargo & Company raised their price objective on shares of W. P. Carey from $58.00 to $66.00 and gave the company an “equal weight” rating in a research report on Monday, March 10th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Finally, Scotiabank raised their price target on W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $63.75.

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.