Private Advisor Group LLC Has $3 Million Position in W. P. Carey Inc. (NYSE:WPC)

Private Advisor Group LLC lessened its holdings in W. P. Carey Inc. (NYSE:WPC) by 4.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,127 shares of the real estate investment trust’s stock after selling 2,412 shares during the period. Private Advisor Group LLC’s holdings in W. P. Carey were worth $3,003,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WPC. Harbour Investments Inc. grew its stake in shares of W. P. Carey by 5.9% in the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock valued at $226,000 after purchasing an additional 203 shares during the period. Demars Financial Group LLC boosted its stake in W. P. Carey by 2.2% in the 3rd quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust’s stock valued at $616,000 after buying an additional 216 shares in the last quarter. Capital Investment Advisory Services LLC grew its position in W. P. Carey by 3.1% in 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 during the period. Empowered Funds LLC raised its stake in W. P. Carey by 7.7% during the fourth 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. Finally, Cooper Financial Group lifted its holdings in shares of W. P. Carey by 2.4% during the fourth 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 during the period. Institutional investors own 73.73% of the company’s stock.

W. P. Carey Stock Up 1.9 %

NYSE:WPC opened at $62.79 on Tuesday. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 30.04, a P/E/G ratio of 1.06 and a beta of 0.97. 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 stock’s fifty day moving average price is $55.99 and its two-hundred day moving average price is $57.74. W. P. Carey Inc. has a 52-week low of $52.91 and a 52-week high of $64.26.

W. P. Carey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 5.61%. The ex-dividend date was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio is 168.42%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WPC. Scotiabank lowered their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $60.00 to $67.00 in a research note on Tuesday, February 18th. Barclays dropped their price objective on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. Evercore ISI boosted their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, February 19th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.38.

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.