Wealthstar Advisors LLC Purchases Shares of 15,840 W. P. Carey Inc. (NYSE:WPC)

Wealthstar Advisors LLC bought a new stake in W. P. Carey Inc. (NYSE:WPC) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,840 shares of the real estate investment trust’s stock, valued at approximately $863,000.

A number of other large investors have also made changes to their positions in the stock. RFG Advisory LLC raised its stake in shares of W. P. Carey by 91.7% in the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock valued at $347,000 after acquiring an additional 3,049 shares during the period. Equity Investment Corp raised its position in W. P. Carey by 0.7% in the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock valued at $92,305,000 after purchasing an additional 9,610 shares during the period. Stoneridge Investment Partners LLC acquired a new position in shares of W. P. Carey during the third quarter worth about $1,692,000. abrdn plc boosted its position in shares of W. P. Carey by 9.9% in the third quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock worth $6,396,000 after buying an additional 9,229 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of W. P. Carey by 7.0% during the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust’s stock valued at $1,980,000 after purchasing an additional 2,075 shares during the period. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Stock Performance

Shares of WPC opened at $56.08 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50 day moving average is $55.29 and its 200-day moving average is $57.65. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $64.26. The stock has a market capitalization of $12.27 billion, a P/E ratio of 22.08, a P/E/G ratio of 1.02 and a beta of 0.97.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 6.28%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is presently 138.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WPC shares. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Friday, January 10th. Scotiabank reduced their price target on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a report on Thursday, January 16th. Barclays dropped their price target on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 4th. Finally, UBS Group lowered their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.00.

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.