C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,785 shares of the real estate investment trust's stock, valued at approximately $315,000.
Several other institutional investors have also modified their holdings of the stock. Atria Wealth Solutions Inc. boosted its stake in shares of W. P. Carey by 55.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 102,073 shares of the real estate investment trust's stock valued at $5,567,000 after purchasing an additional 36,354 shares during the period. CIBC Asset Management Inc increased its stake in shares of W. P. Carey by 13.8% during the fourth quarter. CIBC Asset Management Inc now owns 8,814 shares of the real estate investment trust's stock worth $480,000 after buying an additional 1,066 shares during the period. Sanctuary Advisors LLC raised its holdings in W. P. Carey by 25.4% in the fourth quarter. Sanctuary Advisors LLC now owns 44,618 shares of the real estate investment trust's stock valued at $2,484,000 after acquiring an additional 9,036 shares in the last quarter. Nicholas Hoffman & Company LLC. increased its position in shares of W. P. Carey by 32.0% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 18,317 shares of the real estate investment trust's stock valued at $998,000 after purchasing an additional 4,442 shares during the last quarter. Finally, Meixler Investment Management Ltd. purchased a new stake in shares of W. P. Carey during the 4th quarter worth $1,007,000. Hedge funds and other institutional investors own 73.73% of the company's stock.
W. P. Carey Price Performance
Shares of NYSE:WPC traded up $0.48 on Friday, hitting $61.68. The company had a trading volume of 2,360,478 shares, compared to its average volume of 1,070,164. The business has a 50 day moving average of $55.78 and a 200 day moving average of $57.64. 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 company has a market cap of $13.50 billion, a PE ratio of 29.51, a PEG ratio of 1.04 and a beta of 0.97. 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 firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 5.71%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. W. P. Carey's payout ratio is 168.42%.
Analyst Upgrades and Downgrades
WPC has been the subject of several analyst reports. UBS Group lowered their price objective on W. P. Carey from $62.00 to $60.00 and set a "neutral" rating for the company in a research report on Thursday, November 14th. BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and upped their price objective for the company 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 report on Thursday, January 16th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Finally, Royal Bank of Canada lifted their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $62.38.
Read Our Latest Report on WPC
About W. P. Carey
(
Free Report)
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.
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