Wealthstar Advisors LLC Takes $863,000 Position in W. P. Carey Inc. (NYSE:WPC)

Wealthstar Advisors LLC acquired a new position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 15,840 shares of the real estate investment trust's stock, valued at approximately $863,000.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barclays reduced their target price on W. P. Carey from $59.00 to $56.00 and set an "underweight" rating on the stock in a research report on Tuesday, February 4th. Royal Bank of Canada lifted their target price on W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday. 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 research report on Thursday, January 16th. UBS Group reduced 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. Finally, JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, W. P. Carey presently has an average rating of "Hold" and an average price target of $62.00.

W. P. Carey Trading Up 2.1 %

Shares of NYSE WPC traded up $1.19 during trading on Thursday, reaching $58.89. The stock had a trading volume of 1,484,065 shares, compared to its average volume of 998,106. 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 debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The business's 50-day moving average price is $55.39 and its 200-day moving average price is $57.61. The company has a market cap of $12.89 billion, a P/E ratio of 23.19, a PEG ratio of 1.02 and a beta of 0.97.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 5.98%. 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. W. P. Carey's payout ratio is presently 168.42%.

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.