RFG Bristol Wealth Advisors LLC acquired a new stake in W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,067 shares of the real estate investment trust's stock, valued at approximately $276,000.
A number of other large investors also recently modified their holdings of WPC. Vanguard Group Inc. grew its holdings in shares of W. P. Carey by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 30,820,665 shares of the real estate investment trust's stock valued at $1,679,110,000 after buying an additional 242,576 shares during the last quarter. Geode Capital Management LLC boosted its holdings in W. P. Carey by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 4,709,028 shares of the real estate investment trust's stock worth $256,201,000 after acquiring an additional 135,090 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of W. P. Carey by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,641,815 shares of the real estate investment trust's stock worth $143,926,000 after acquiring an additional 43,197 shares in the last quarter. Norges Bank bought a new position in shares of W. P. Carey during the fourth quarter valued at about $139,381,000. Finally, Equity Investment Corp lifted its position in shares of W. P. Carey by 26.3% during the 4th quarter. Equity Investment Corp now owns 1,870,734 shares of the real estate investment trust's stock worth $101,918,000 after buying an additional 389,107 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.
W. P. Carey Trading Down 3.5 %
NYSE:WPC traded down $2.04 during mid-day trading on Monday, reaching $57.11. 612,795 shares of the company's stock traded hands, compared to its average volume of 1,176,464. W. P. Carey Inc. has a 12-month low of $52.91 and a 12-month high of $66.10. 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 50 day moving average price of $60.66 and a 200-day moving average price of $58.33. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 1.06 and a beta of 0.81.
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 paid a dividend of $0.89 per share. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. The ex-dividend date is Monday, March 31st. This represents a $3.56 dividend on an annualized basis and a dividend yield of 6.23%. W. P. Carey's payout ratio is presently 170.33%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on WPC. Wells Fargo & Company upped their price objective on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a research note on Monday, March 10th. JMP Securities reissued a "market perform" rating on shares of W. P. Carey in a report on Thursday, February 13th. Royal Bank of Canada increased their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Scotiabank boosted their price target on shares of W. P. Carey from $59.00 to $63.00 and gave the company a "sector perform" rating in a research report on Wednesday, March 12th. Finally, Barclays boosted their target price on W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 4th. 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $63.75.
Get Our Latest Stock Analysis on W. P. Carey
About W. P. Carey
(
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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