Raymond James Financial Inc. Acquires New Stake in W. P. Carey Inc. (NYSE:WPC)

Raymond James Financial Inc. bought a new position in W. P. Carey Inc. (NYSE:WPC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 577,138 shares of the real estate investment trust's stock, valued at approximately $31,442,000. Raymond James Financial Inc. owned approximately 0.26% of W. P. Carey at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. National Pension Service bought a new position in W. P. Carey in the fourth quarter worth approximately $25,000. Wingate Wealth Advisors Inc. bought a new position in shares of W. P. Carey during the 4th quarter worth $37,000. RPg Family Wealth Advisory LLC purchased a new position in shares of W. P. Carey during the third quarter valued at $44,000. Plato Investment Management Ltd bought a new stake in shares of W. P. Carey in the fourth quarter valued at about $48,000. Finally, Roxbury Financial LLC bought a new stake in shares of W. P. Carey in the fourth quarter valued at about $58,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Price Performance

WPC stock traded down $0.07 during mid-day trading on Monday, reaching $62.59. 1,723,449 shares of the company's stock were exchanged, compared to its average volume of 1,104,135. The stock's 50 day moving average is $58.57 and its 200 day moving average is $58.30. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. The company has a market cap of $13.70 billion, a price-to-earnings ratio of 29.95, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98.

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W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.89 dividend. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.56 annualized dividend and a dividend yield of 5.69%. W. P. Carey's dividend payout ratio (DPR) is 170.33%.

Analyst Upgrades and Downgrades

WPC has been the topic of a number of research reports. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a research report on Thursday, February 13th. Royal Bank of Canada boosted their target price 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. Barclays increased their price objective on W. P. Carey from $56.00 to $60.00 and gave the company an "underweight" rating in a report on Tuesday, March 4th. Wells Fargo & Company increased 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. Finally, Evercore ISI raised their target price on W. P. Carey from $60.00 to $64.00 and gave the stock an "in-line" rating in a report on Wednesday, February 19th. One 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 company's stock. According to MarketBeat.com, the stock has a consensus 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.