Empower Advisory Group LLC Has $240,000 Stake in W. P. Carey Inc. (NYSE:WPC)

Empower Advisory Group LLC lowered its stake in shares of W. P. Carey Inc. (NYSE:WPC) by 26.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,404 shares of the real estate investment trust’s stock after selling 1,553 shares during the period. Empower Advisory Group LLC’s holdings in W. P. Carey were worth $240,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in WPC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in W. P. Carey by 660.9% during the 3rd 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 valued at $127,969,000 after purchasing an additional 1,784,131 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of W. P. Carey by 649.4% in the 3rd quarter. Victory Capital Management Inc. now owns 553,879 shares of the real estate investment trust’s stock worth $34,507,000 after buying an additional 479,973 shares during the last quarter. FMR LLC boosted its stake in shares of W. P. Carey by 103.3% in the 3rd quarter. FMR LLC now owns 806,082 shares of the real estate investment trust’s stock worth $50,219,000 after buying an additional 409,593 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of W. P. Carey by 6,145.1% in the 3rd quarter. International Assets Investment Management LLC now owns 407,304 shares of the real estate investment trust’s stock worth $25,375,000 after buying an additional 400,782 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of W. P. Carey by 274.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 405,808 shares of the real estate investment trust’s stock worth $25,282,000 after buying an additional 297,432 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Up 0.0 %

NYSE:WPC opened at $60.42 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The stock has a market capitalization of $13.22 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. The firm’s 50 day moving average is $55.67 and its 200 day moving average is $57.62. W. P. Carey Inc. has a 12 month low of $52.91 and a 12 month high of $64.26.

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 issued a dividend of $0.88 per share. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 5.83%. W. P. Carey’s payout ratio is presently 168.42%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on WPC shares. BMO Capital Markets upgraded W. P. Carey from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $60.00 to $67.00 in a research note on Tuesday. Scotiabank cut their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 16th. 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 research note on Wednesday. UBS Group cut their target price on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.38.

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.