New Age Alpha Advisors LLC Makes New Investment in W. P. Carey Inc. (NYSE:WPC)

New Age Alpha Advisors LLC bought a new stake in shares of W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 61,646 shares of the real estate investment trust’s stock, valued at approximately $3,358,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. National Pension Service bought a new position in W. P. Carey in the 4th quarter worth $25,000. Millstone Evans Group LLC purchased a new position in shares of W. P. Carey during the fourth quarter valued at about $37,000. Wingate Wealth Advisors Inc. purchased a new position in shares of W. P. Carey during the fourth quarter valued at about $37,000. Plato Investment Management Ltd bought a new position in W. P. Carey in the fourth quarter worth about $48,000. Finally, Roxbury Financial LLC purchased a new stake in W. P. Carey in the fourth quarter worth about $58,000. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.4 %

Shares of NYSE WPC opened at $62.67 on Friday. The firm’s 50 day moving average price is $60.04 and its 200-day moving average price is $58.41. 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. The company has a market cap of $13.71 billion, a PE ratio of 29.98, a P/E/G ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WPC. BMO Capital Markets raised W. P. Carey from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $60.00 to $67.00 in a research report on Tuesday, February 18th. Wells Fargo & Company increased their price objective on W. P. Carey from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday, March 10th. Royal Bank of Canada boosted their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. JMP Securities reiterated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. Finally, Scotiabank boosted their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. One investment 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.com, W. P. Carey currently has an average rating of “Hold” and an average 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.