Meixler Investment Management Ltd. purchased a new position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,485 shares of the real estate investment trust's stock, valued at approximately $1,007,000. W. P. Carey comprises about 0.7% of Meixler Investment Management Ltd.'s holdings, making the stock its 26th largest holding.
Other institutional investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. lifted its position in shares of W. P. Carey by 5.9% during the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust's stock worth $226,000 after purchasing an additional 203 shares during the last quarter. Creative Planning lifted its position in shares of W. P. Carey by 0.3% during the 3rd quarter. Creative Planning now owns 64,709 shares of the real estate investment trust's stock worth $4,031,000 after purchasing an additional 207 shares during the last quarter. Demars Financial Group LLC lifted its position in shares of W. P. Carey by 2.2% during the 3rd quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust's stock worth $616,000 after purchasing an additional 216 shares during the last quarter. Capital Investment Advisory Services LLC lifted its position in shares of W. P. Carey by 3.1% during the 4th quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust's stock worth $474,000 after purchasing an additional 259 shares during the last quarter. Finally, Empowered Funds LLC lifted its position 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 valued at $206,000 after acquiring an additional 271 shares during the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Scotiabank reduced their price target on shares of W. P. Carey from $60.00 to $59.00 and set a "sector perform" rating for the company in a research report on Thursday, January 16th. Barclays reduced their price target on shares of W. P. Carey from $59.00 to $56.00 and set an "underweight" rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada boosted their price target on shares of W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. BMO Capital Markets raised shares of W. P. Carey from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $60.00 to $67.00 in a research report on Tuesday. Finally, UBS Group dropped their price objective on shares of W. P. Carey from $62.00 to $60.00 and set a "neutral" rating on the stock in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $62.38.
Check Out Our Latest Stock Analysis on WPC
W. P. Carey Trading Up 1.2 %
Shares of WPC stock traded up $0.75 during mid-day trading on Thursday, reaching $61.17. The company's stock had a trading volume of 896,114 shares, compared to its average volume of 1,031,060. The company's 50 day simple moving average is $55.78 and its 200-day simple moving average is $57.64. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $64.26. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $13.39 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97.
W. P. Carey Increases Dividend
The company also recently declared 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 is an increase from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date was Tuesday, December 31st. This represents a $3.52 annualized dividend and a yield of 5.75%. W. P. Carey's payout ratio is 168.42%.
W. P. Carey Company Profile
(
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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