Nicholas Hoffman & Company LLC. raised its position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) by 32.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,317 shares of the real estate investment trust's stock after buying an additional 4,442 shares during the period. Nicholas Hoffman & Company LLC.'s holdings in W. P. Carey were worth $998,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Meixler Investment Management Ltd. purchased a new position in shares of W. P. Carey during the fourth quarter valued at approximately $1,007,000. Allworth Financial LP increased its position in W. P. Carey by 0.5% during the 4th quarter. Allworth Financial LP now owns 136,470 shares of the real estate investment trust's stock valued at $7,528,000 after purchasing an additional 643 shares during the period. Legacy Capital Wealth Partners LLC raised its holdings in W. P. Carey by 23.7% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 11,264 shares of the real estate investment trust's stock worth $614,000 after purchasing an additional 2,155 shares in the last quarter. Roxbury Financial LLC purchased a new stake in shares of W. P. Carey in the 4th quarter worth about $58,000. Finally, WealthPlan Investment Management LLC raised its stake in W. P. Carey by 13.3% in the fourth quarter. WealthPlan Investment Management LLC now owns 9,911 shares of the real estate investment trust's stock worth $540,000 after buying an additional 1,165 shares in the last quarter. Institutional investors own 73.73% of the company's stock.
W. P. Carey Stock Performance
NYSE WPC traded up $0.75 during trading hours on Thursday, hitting $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 has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market cap of $13.39 billion, a P/E ratio of 29.27, a price-to-earnings-growth ratio of 1.04 and a beta of 0.97. The company's 50 day simple moving average is $55.78 and its two-hundred 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.
W. P. Carey Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given 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 of this dividend was Tuesday, December 31st. This represents a $3.52 dividend on an annualized basis and a yield of 5.75%. W. P. Carey's dividend payout ratio is 168.42%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on WPC shares. JMP Securities reiterated a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Royal Bank of Canada upped their price target on W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Evercore ISI raised their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research report on Wednesday. Barclays decreased 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 note on Tuesday, February 4th. Finally, BMO Capital Markets upgraded shares of W. P. Carey from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $60.00 to $67.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, W. P. Carey has an average rating of "Hold" and an average target price of $62.38.
View Our Latest Analysis on W. P. Carey
W. P. Carey 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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