EntryPoint Capital LLC Buys New Position in W. P. Carey Inc. (NYSE:WPC)

EntryPoint Capital LLC bought 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 filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,488 shares of the real estate investment trust's stock, valued at approximately $353,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 worth $127,969,000 after acquiring an additional 1,784,131 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of W. P. Carey during the fourth quarter worth approximately $31,442,000. FMR LLC lifted its holdings in shares of W. P. Carey by 103.3% during the third quarter. FMR LLC now owns 806,082 shares of the real estate investment trust's stock worth $50,219,000 after purchasing an additional 409,593 shares during the period. Equity Investment Corp grew its position in W. P. Carey by 26.3% in the 4th quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust's stock valued at $101,918,000 after buying an additional 389,107 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in W. P. Carey by 21.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,514,049 shares of the real estate investment trust's stock valued at $94,325,000 after buying an additional 264,230 shares during the period. Hedge funds and other institutional investors own 73.73% of the company's stock.

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W. P. Carey Price Performance

WPC traded up $0.26 during trading on Friday, reaching $62.67. 794,407 shares of the stock were exchanged, compared to its average volume of 1,163,911. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 1.06 and a beta of 0.95. The business's 50 day moving average price is $60.04 and its two-hundred day moving average price is $58.41. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98.

W. P. Carey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 5.68%. The ex-dividend date is Monday, March 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio is 170.33%.

Wall Street Analyst Weigh In

WPC has been the subject of several recent analyst reports. JMP Securities restated a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Scotiabank raised their price objective on shares of W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. Barclays boosted their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 4th. Royal Bank of Canada raised their price target on W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Finally, Evercore ISI lifted their price target on W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research note on Wednesday, February 19th. 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. According to data from MarketBeat.com, W. P. Carey currently has an average rating of "Hold" and a consensus price target of $63.75.

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.