New Age Alpha Advisors LLC acquired a new position in 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 61,646 shares of the real estate investment trust's stock, valued at approximately $3,358,000.
Several other large investors have also added to or reduced their stakes in WPC. HighTower Advisors LLC lifted its position in W. P. Carey by 0.4% during the 4th quarter. HighTower Advisors LLC now owns 44,381 shares of the real estate investment trust's stock worth $2,418,000 after buying an additional 193 shares in the last quarter. Capital Investment Advisory Services LLC raised its holdings in 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 in the last quarter. Empowered Funds LLC raised its holdings in W. P. Carey by 7.7% during the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust's stock worth $206,000 after acquiring an additional 271 shares in the last quarter. Cooper Financial Group boosted its position in W. P. Carey by 2.4% during the fourth quarter. Cooper Financial Group now owns 11,905 shares of the real estate investment trust's stock valued at $649,000 after purchasing an additional 276 shares during the last quarter. Finally, Impact Partnership Wealth LLC grew its stake in W. P. Carey by 3.6% in the fourth quarter. Impact Partnership Wealth LLC now owns 8,299 shares of the real estate investment trust's stock valued at $452,000 after purchasing an additional 289 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.
W. P. Carey Stock Performance
Shares of WPC stock traded down $0.65 on Thursday, hitting $62.03. The company's stock had a trading volume of 502,566 shares, compared to its average volume of 1,166,458. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10. The company has a market capitalization of $13.58 billion, a PE ratio of 29.68, a PEG ratio of 1.06 and a beta of 0.95. The stock's 50 day moving average is $60.46 and its 200-day moving average is $58.42. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.98 and a current ratio of 0.98.
W. P. Carey Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date is Monday, March 31st. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's dividend payout ratio (DPR) is 170.33%.
Analyst Ratings Changes
Several research firms have recently commented on WPC. Evercore ISI increased their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. Barclays boosted their price objective on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 4th. Wells Fargo & Company boosted their price target on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research report on Monday, March 10th. JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a research note on Thursday, February 13th. Finally, Royal Bank of Canada increased their price target on W. P. Carey from $61.00 to $62.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $63.75.
Check Out Our Latest Report on WPC
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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