Private Advisor Group LLC Has $3 Million Stock Position in W. P. Carey Inc. (NYSE:WPC)

Private Advisor Group LLC reduced its position in W. P. Carey Inc. (NYSE:WPC) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,127 shares of the real estate investment trust’s stock after selling 2,412 shares during the period. Private Advisor Group LLC’s holdings in W. P. Carey were worth $3,003,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. RFG Advisory LLC increased its holdings in W. P. Carey by 91.7% in the fourth quarter. RFG Advisory LLC now owns 6,373 shares of the real estate investment trust’s stock worth $347,000 after buying an additional 3,049 shares during the last quarter. Equity Investment Corp grew its position in W. P. Carey by 0.7% in the third quarter. Equity Investment Corp now owns 1,481,627 shares of the real estate investment trust’s stock worth $92,305,000 after acquiring an additional 9,610 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new position in shares of W. P. Carey during the 3rd quarter worth $1,692,000. abrdn plc raised its holdings in shares of W. P. Carey by 9.9% during the 3rd quarter. abrdn plc now owns 102,657 shares of the real estate investment trust’s stock valued at $6,396,000 after purchasing an additional 9,229 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in shares of W. P. Carey by 7.0% in the 3rd 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 last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.

W. P. Carey Trading Up 1.9 %

Shares of W. P. Carey stock opened at $62.79 on Tuesday. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $64.26. The company’s fifty day simple moving average is $55.99 and its 200-day simple moving average is $57.74. The company has a market cap of $13.74 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 1.06 and a beta of 0.97. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.95.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 5.61%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Tuesday, December 31st. W. P. Carey’s dividend payout ratio (DPR) is currently 168.42%.

Analysts Set New Price Targets

Several research firms have commented on WPC. UBS Group lowered their target price on shares of W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, November 14th. Evercore ISI increased their price objective on W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. Barclays reduced their target price on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Tuesday, February 4th. Scotiabank decreased their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating for the company in a research report on Thursday, January 16th. Finally, BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $67.00 in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.38.

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.