5,785 Shares in W. P. Carey Inc. (NYSE:WPC) Bought by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of W. P. Carey Inc. (NYSE:WPC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,785 shares of the real estate investment trust’s stock, valued at approximately $315,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Maia Wealth LLC purchased a new position in shares of W. P. Carey during the 3rd quarter valued at $40,000. Abich Financial Wealth Management LLC raised its stake in W. P. Carey by 2,374.1% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 668 shares of the real estate investment trust’s stock valued at $42,000 after purchasing an additional 641 shares during the period. Wingate Wealth Advisors Inc. purchased a new position in shares of W. P. Carey in the fourth quarter worth $37,000. Fortitude Family Office LLC boosted its position in shares of W. P. Carey by 962.5% during the third quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 616 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new position in W. P. Carey during the third quarter valued at $44,000. 73.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WPC has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price objective on W. P. Carey from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday. JMP Securities reissued a “market perform” rating on shares of W. P. Carey in a report on Thursday. Scotiabank reduced their target price on shares of W. P. Carey from $60.00 to $59.00 and set a “sector perform” rating on the stock in a report on Thursday, January 16th. Barclays decreased their target price on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 4th. Finally, UBS Group lowered their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a research note on Thursday, November 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.00.

W. P. Carey Price Performance

WPC opened at $58.89 on Friday. The business has a fifty day moving average of $55.39 and a 200 day moving average of $57.61. The stock has a market cap of $12.89 billion, a P/E ratio of 23.19, a PEG 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 52-week low of $52.91 and a 52-week high of $64.26.

W. P. Carey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.88 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. This represents a $3.52 dividend on an annualized basis and a dividend yield of 5.98%. W. P. Carey’s dividend payout ratio is presently 168.42%.

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.