World Investment Advisors Invests $361,000 in W. P. Carey Inc. (NYSE:WPC)

World Investment Advisors purchased a new position in shares of W. P. Carey Inc. (NYSE:WPC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,625 shares of the real estate investment trust's stock, valued at approximately $361,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. National Pension Service acquired a new position in W. P. Carey in the 4th quarter valued at $25,000. Millstone Evans Group LLC purchased a new stake in shares of W. P. Carey in the fourth quarter valued at about $37,000. Wingate Wealth Advisors Inc. acquired a new position in shares of W. P. Carey during the fourth quarter worth about $37,000. Plato Investment Management Ltd acquired a new position in shares of W. P. Carey during the fourth quarter worth about $48,000. Finally, Hoey Investments Inc. purchased a new position in W. P. Carey during the fourth quarter worth about $48,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on WPC shares. Wells Fargo & Company lifted their price objective on W. P. Carey from $58.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, March 10th. Royal Bank of Canada upped their price objective on W. P. Carey from $61.00 to $62.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. BMO Capital Markets raised W. P. Carey from a "market perform" rating to an "outperform" rating and raised their target price for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. Barclays boosted their target price 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. Finally, Evercore ISI increased their price target on shares of W. P. Carey from $60.00 to $64.00 and gave the company an "in-line" rating in a report on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $63.75.

Remove Ads

W. P. Carey Price Performance

Shares of NYSE:WPC traded up $1.11 during midday trading on Friday, hitting $57.87. 1,209,639 shares of the stock were exchanged, compared to its average volume of 1,185,540. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $66.10. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95. The company has a 50 day moving average price of $60.88 and a 200-day moving average price of $58.12. The stock has a market cap of $12.67 billion, a P/E ratio of 27.69, a PEG ratio of 1.06 and a beta of 0.81.

W. P. Carey Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given 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 6.15%. This is a boost from W. P. Carey's previous quarterly dividend of $0.88. W. P. Carey's payout ratio is presently 170.33%.

W. P. Carey 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.