Wingate Wealth Advisors Inc. Makes New $37,000 Investment in W. P. Carey Inc. (NYSE:WPC)

Wingate Wealth Advisors Inc. bought a new position in shares of W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 673 shares of the real estate investment trust’s stock, valued at approximately $37,000.

Other large investors also recently modified their holdings of the company. Wealthstar Advisors LLC acquired a new position in shares of W. P. Carey in the 4th quarter valued at approximately $863,000. Kestra Private Wealth Services LLC boosted its holdings in shares of W. P. Carey by 289.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 25,008 shares of the real estate investment trust’s stock valued at $1,362,000 after buying an additional 18,588 shares during the period. Stephens Inc. AR increased its position in shares of W. P. Carey by 3.0% during the fourth quarter. Stephens Inc. AR now owns 13,392 shares of the real estate investment trust’s stock worth $730,000 after acquiring an additional 392 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of W. P. Carey by 7.7% during the fourth quarter. Empowered Funds LLC now owns 3,778 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 271 shares during the period. Finally, Apollon Wealth Management LLC lifted its position in W. P. Carey by 37.7% in the 4th quarter. Apollon Wealth Management LLC now owns 23,254 shares of the real estate investment trust’s stock valued at $1,267,000 after acquiring an additional 6,367 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on WPC shares. UBS Group dropped their price target on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, November 14th. Scotiabank dropped their target price on W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 16th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a research report on Friday, January 10th. Finally, Barclays lowered their price objective on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, W. P. Carey presently has a consensus rating of “Hold” and an average target price of $62.00.

W. P. Carey Stock Up 0.8 %

NYSE:WPC opened at $56.16 on Wednesday. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 1.02 and a beta of 0.97. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.90. W. P. Carey Inc. has a twelve month low of $52.91 and a twelve month high of $64.26. The stock’s 50 day moving average price is $55.29 and its two-hundred day moving average price is $57.60.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. The ex-dividend date was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 annualized dividend and a dividend yield of 6.27%. W. P. Carey’s payout ratio is currently 138.58%.

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.