TT Capital Management LLC Takes Position in W. P. Carey Inc. (NYSE:WPC)

TT Capital Management LLC acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 56,324 shares of the real estate investment trust's stock, valued at approximately $3,110,000. W. P. Carey accounts for 2.5% of TT Capital Management LLC's portfolio, making the stock its 7th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. RFG Advisory LLC lifted its holdings in W. P. Carey by 91.7% during the 4th quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust's stock valued at $347,000 after buying an additional 3,049 shares in the last quarter. Stifel Financial Corp boosted its holdings in shares of W. P. Carey by 7.0% in the third quarter. Stifel Financial Corp now owns 31,784 shares of the real estate investment trust's stock valued at $1,980,000 after purchasing an additional 2,075 shares during the period. Sei Investments Co. increased its holdings in W. P. Carey by 17.1% during the 4th quarter. Sei Investments Co. now owns 56,085 shares of the real estate investment trust's stock worth $3,056,000 after purchasing an additional 8,197 shares during the period. Signet Financial Management LLC bought a new stake in W. P. Carey during the 4th quarter valued at $1,942,000. Finally, Diversified Trust Co purchased a new stake in shares of W. P. Carey in the 4th quarter worth $534,000. Hedge funds and other institutional investors own 73.73% of the company's stock.

W. P. Carey Trading Up 1.5 %

WPC traded up $0.90 during trading hours on Friday, reaching $62.18. The company's stock had a trading volume of 771,315 shares, compared to its average volume of 1,182,824. The business's 50-day moving average is $61.28 and its 200-day moving average is $58.10. 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 stock has a market cap of $13.62 billion, a PE ratio of 29.75, a P/E/G ratio of 1.06 and a beta of 0.81. W. P. Carey Inc. has a fifty-two week low of $52.91 and a fifty-two week high of $66.10.

W. P. Carey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.89 dividend. This is a positive change from W. P. Carey's previous quarterly dividend of $0.88. This represents a $3.56 annualized dividend and a yield of 5.73%. The ex-dividend date was Monday, March 31st. W. P. Carey's payout ratio is 170.33%.

Wall Street Analysts Forecast Growth

WPC has been the topic of several recent research reports. Wells Fargo & Company increased their target price on shares of W. P. Carey from $58.00 to $66.00 and gave the stock an "equal weight" rating in a report on Monday, March 10th. Barclays raised their price target on shares of W. P. Carey from $56.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 4th. BMO Capital Markets raised shares of W. P. Carey from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Scotiabank raised their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. Finally, Evercore ISI boosted their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $63.75.

W. P. Carey Company Profile

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.