W. P. Carey Inc. (NYSE:WPC) Stake Raised by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC raised its holdings in shares of W. P. Carey Inc. (NYSE:WPC) by 37.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,479 shares of the real estate investment trust’s stock after acquiring an additional 1,226 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in W. P. Carey were worth $303,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WPC. Fairfield Bush & CO. acquired a new position in shares of W. P. Carey in the first quarter worth $26,000. Acadian Asset Management LLC acquired a new position in W. P. Carey in the 1st quarter worth about $26,000. Robbins Farley purchased a new stake in shares of W. P. Carey during the 1st quarter worth about $27,000. HBC Financial Services PLLC acquired a new stake in shares of W. P. Carey during the 1st quarter valued at about $31,000. Finally, ICA Group Wealth Management LLC bought a new stake in shares of W. P. Carey in the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 62.62% of the company’s stock.

W. P. Carey Stock Performance

Shares of NYSE WPC opened at $57.07 on Tuesday. W. P. Carey Inc. has a 12 month low of $51.36 and a 12 month high of $85.94. The company has a market cap of $12.48 billion, a P/E ratio of 15.68, a P/E/G ratio of 6.46 and a beta of 0.84. The business’s 50 day moving average is $55.64 and its two-hundred day moving average is $63.78. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.85.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $1.071 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $4.28 dividend on an annualized basis and a yield of 7.51%. This is a positive change from W. P. Carey’s previous quarterly dividend of $1.07. W. P. Carey’s payout ratio is 117.58%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Scotiabank cut their price objective on shares of W. P. Carey from $71.00 to $61.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 28th. Wells Fargo & Company initiated coverage on shares of W. P. Carey in a report on Wednesday, September 20th. They issued an “equal weight” rating and a $66.00 price objective for the company. BMO Capital Markets lowered W. P. Carey from an “outperform” rating to a “market perform” rating and cut their target price for the company from $75.00 to $60.00 in a report on Tuesday, September 26th. Royal Bank of Canada reduced their price target on W. P. Carey from $79.00 to $73.00 and set an “outperform” rating for the company in a research report on Tuesday, September 26th. Finally, JMP Securities lowered W. P. Carey from an “outperform” rating to a “market perform” rating in a report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $66.60.

W. P. Carey Company Profile

Celebrating its 50th anniversary, W. P. Carey ranks among the largest net lease REITs with an enterprise value of approximately $23 billion and a well-diversified portfolio of high-quality, operationally critical commercial real estate, which includes 1,475 net lease properties covering approximately 180 million square feet and a portfolio of 85 self-storage operating properties, as of June 30, 2023.