C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 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 company. Harbour Investments Inc. grew its position in shares of W. P. Carey by 5.9% during the third quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust's stock worth $226,000 after acquiring an additional 203 shares during the last quarter. Creative Planning grew its position in shares of W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust's stock worth $4,031,000 after acquiring an additional 207 shares during the last quarter. Demars Financial Group LLC grew its position in shares of W. P. Carey by 2.2% during the third quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust's stock worth $616,000 after acquiring an additional 216 shares during the last quarter. Capital Investment Advisory Services LLC grew its position in shares of W. P. Carey by 3.1% during the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust's stock worth $474,000 after acquiring an additional 259 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in W. P. Carey by 7.7% in the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust's stock worth $206,000 after purchasing an additional 271 shares during the period. Institutional investors own 73.73% of the company's stock.
W. P. Carey Price Performance
NYSE WPC traded down $0.15 on Monday, reaching $58.72. The company's stock had a trading volume of 1,337,284 shares, compared to its average volume of 849,474. 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 twelve month low of $52.91 and a twelve month high of $64.26. The stock has a market cap of $12.85 billion, a PE ratio of 23.12, a PEG ratio of 1.02 and a beta of 0.97. The firm's 50 day moving average is $55.49 and its two-hundred day moving average is $57.58.
W. P. Carey Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a yield of 5.99%. W. P. Carey's dividend payout ratio is currently 138.58%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on WPC shares. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a report on Thursday. Scotiabank reduced their price objective on shares of W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating for the company in a report on Thursday, January 16th. Barclays reduced their price objective on shares of W. P. Carey from $59.00 to $56.00 and set an "underweight" rating for the company in a report on Tuesday, February 4th. Royal Bank of Canada upped their price objective on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, UBS Group cut their price target 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $62.00.
View Our Latest Report on W. P. Carey
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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