TIAA Trust National Association Invests $261,000 in W. P. Carey Inc. (NYSE:WPC)

TIAA Trust National Association purchased a new position in W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 4,791 shares of the real estate investment trust’s stock, valued at approximately $261,000.

A number of other hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC raised its holdings in W. P. Carey by 0.4% in the fourth quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust’s stock worth $2,418,000 after buying an additional 193 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 valued at $474,000 after acquiring an additional 259 shares in the last quarter. Empowered Funds LLC raised its holdings in W. P. Carey by 7.7% in 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 during the last quarter. Cooper Financial Group lifted its position in W. P. Carey by 2.4% in the 4th quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust’s stock valued at $649,000 after acquiring an additional 276 shares in the last quarter. Finally, Impact Partnership Wealth LLC boosted its stake in 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 valued at $452,000 after purchasing an additional 289 shares during the last quarter. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Performance

WPC opened at $62.67 on Friday. The company’s 50 day moving average is $60.04 and its 200 day moving average is $58.44. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 29.98, a PEG ratio of 1.06 and a beta of 0.95. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.89 per share. This is an increase from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.68%. W. P. Carey’s payout ratio is presently 170.33%.

Analyst Ratings Changes

WPC has been the subject of several recent analyst reports. Evercore ISI boosted their price target on 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. Royal Bank of Canada boosted their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Scotiabank raised their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. Barclays boosted their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. One 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $63.75.

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.