Ieq Capital LLC Takes $227,000 Position in W. P. Carey Inc. (NYSE:WPC)

Ieq Capital LLC acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,173 shares of the real estate investment trust's stock, valued at approximately $227,000.

Several other hedge funds have also made changes to their positions in the stock. RFG Advisory LLC lifted its position in W. P. Carey by 91.7% in the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust's stock worth $347,000 after purchasing an additional 3,049 shares during the period. Equity Investment Corp raised its stake in shares of W. P. Carey by 0.7% in the 3rd quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust's stock valued at $92,305,000 after buying an additional 9,610 shares in the last quarter. Stoneridge Investment Partners LLC bought a new position in shares of W. P. Carey during the 3rd quarter worth about $1,692,000. abrdn plc boosted its position in shares of W. P. Carey by 9.9% during the 3rd quarter. abrdn plc now owns 102,657 shares of the real estate investment trust's stock valued at $6,396,000 after acquiring an additional 9,229 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in W. P. Carey by 7.0% in the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust's stock valued at $1,980,000 after acquiring an additional 2,075 shares during the period. Institutional investors own 73.73% of the company's stock.

W. P. Carey Price Performance

W. P. Carey stock traded up $0.46 on Monday, reaching $64.67. The company's stock had a trading volume of 1,294,690 shares, compared to its average volume of 1,110,571. The business's fifty day moving average price is $56.77 and its 200 day moving average price is $57.96. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $14.15 billion, a price-to-earnings ratio of 30.94, a PEG ratio of 1.06 and a beta of 0.97. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.85.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a $0.88 dividend. The ex-dividend date was Tuesday, December 31st. This is an increase from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.44%. W. P. Carey's payout ratio is currently 168.42%.

Wall Street Analyst Weigh In

A number of brokerages have commented on WPC. Evercore ISI raised their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a research note on Wednesday, February 19th. Royal Bank of Canada raised their target price 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. JMP Securities reaffirmed a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Barclays dropped their price objective on W. P. Carey from $59.00 to $56.00 and set an "underweight" rating for the company in a research note on Tuesday, February 4th. Finally, Scotiabank cut their price objective on 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price 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.