Proficio Capital Partners LLC Buys Shares of 26,205 W. P. Carey Inc. (NYSE:WPC)

Proficio Capital Partners LLC acquired a new stake in W. P. Carey Inc. (NYSE:WPC - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 26,205 shares of the real estate investment trust's stock, valued at approximately $1,428,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WPC. CIBC Asset Management Inc increased its holdings in W. P. Carey by 5.4% in the third quarter. CIBC Asset Management Inc now owns 7,748 shares of the real estate investment trust's stock valued at $483,000 after buying an additional 395 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of W. P. Carey during the 3rd quarter valued at about $218,000. Swiss National Bank increased its stake in shares of W. P. Carey by 0.4% in the 3rd quarter. Swiss National Bank now owns 649,451 shares of the real estate investment trust's stock valued at $40,461,000 after purchasing an additional 2,300 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in W. P. Carey in the 3rd quarter worth about $640,000. Finally, EverSource Wealth Advisors LLC boosted its position in W. P. Carey by 3.8% during the third quarter. EverSource Wealth Advisors LLC now owns 23,677 shares of the real estate investment trust's stock worth $1,475,000 after purchasing an additional 858 shares in the last quarter. Institutional investors and hedge funds own 73.73% of the company's stock.

W. P. Carey Price Performance

WPC traded down $0.14 during trading on Monday, reaching $61.35. The company's stock had a trading volume of 1,094,555 shares, compared to its average volume of 1,116,215. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.06 and a beta of 0.95. The firm has a fifty day simple moving average of $59.29 and a two-hundred day simple moving average of $58.36. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $66.10. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.95.

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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. The ex-dividend date is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a yield of 5.80%. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is 170.33%.

Wall Street Analysts Forecast Growth

WPC has been the topic of a number of recent analyst reports. BMO Capital Markets upgraded W. P. Carey from a "market perform" rating to an "outperform" rating and increased their target price for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. Scotiabank increased 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 report on Wednesday, March 12th. Evercore ISI boosted their target price 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. Barclays raised their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company boosted their price objective on W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday, March 10th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, W. P. Carey currently has an average rating of "Hold" and a consensus target price of $63.75.

About W. P. Carey

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.