W. P. Carey Inc. (NYSE:WPC) Stock Holdings Boosted by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC raised its position in shares of W. P. Carey Inc. (NYSE:WPC) by 23.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,264 shares of the real estate investment trust’s stock after purchasing an additional 2,155 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in W. P. Carey were worth $614,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WPC. Wingate Wealth Advisors Inc. bought a new position in W. P. Carey during the 4th quarter valued at $37,000. Maia Wealth LLC bought a new position in W. P. Carey during the 3rd quarter valued at $40,000. Abich Financial Wealth Management LLC boosted its stake in W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 641 shares in the last quarter. Fortitude Family Office LLC boosted its stake in W. P. Carey by 962.5% during the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 616 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of W. P. Carey during the 3rd quarter worth $44,000. 73.73% of the stock is owned by institutional investors.

W. P. Carey Price Performance

WPC opened at $58.72 on Friday. The stock has a fifty day moving average of $55.44 and a 200-day moving average of $57.57. The firm has a market capitalization of $12.85 billion, a P/E ratio of 23.12, a PEG ratio of 1.02 and a beta of 0.97. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $64.26. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90.

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 5.99%. 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

Several equities research analysts have recently weighed in on the company. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a research note on Thursday. Scotiabank reduced their price objective on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research note on Thursday, January 16th. Barclays reduced their price objective 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. UBS Group reduced their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. Finally, Royal Bank of Canada raised their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and a consensus price target of $62.00.

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.