673 Shares in W. P. Carey Inc. (NYSE:WPC) Purchased by Wingate Wealth Advisors Inc.

Wingate Wealth Advisors Inc. purchased a new stake in W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 673 shares of the real estate investment trust’s stock, valued at approximately $37,000.

Several other hedge funds have also recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of W. P. Carey by 2.9% during the third quarter. Geode Capital Management LLC now owns 4,573,938 shares of the real estate investment trust’s stock worth $284,426,000 after purchasing an additional 127,477 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in W. P. Carey by 4.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,598,618 shares of the real estate investment trust’s stock valued at $161,894,000 after buying an additional 103,147 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of W. P. Carey by 660.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,054,080 shares of the real estate investment trust’s stock worth $127,969,000 after buying an additional 1,784,131 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of W. P. Carey by 21.1% in the third quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust’s stock valued at $94,325,000 after acquiring an additional 264,230 shares during the period. Finally, Equity Investment Corp grew its stake in shares of 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 acquiring an additional 9,610 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WPC. UBS Group cut their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Barclays cut their price target on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Friday, January 10th. Finally, Scotiabank reduced their target price on 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. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $62.00.

W. P. Carey Trading Up 0.8 %

Shares of WPC stock opened at $56.16 on Wednesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $64.26. The company has a market cap of $12.29 billion, a PE ratio of 22.11, a P/E/G ratio of 1.02 and a beta of 0.97. The stock’s fifty day moving average price is $55.29 and its two-hundred day moving average price is $57.60.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s payout ratio is currently 138.58%.

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.