Asset Planning Inc Acquires Shares of 1,540 W. P. Carey Inc. (NYSE:WPC)

Asset Planning Inc acquired a new stake in W. P. Carey Inc. (NYSE:WPC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,540 shares of the real estate investment trust’s stock, valued at approximately $84,000.

A number of other hedge funds have also modified their holdings of WPC. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey in the 4th quarter valued at $37,000. Maia Wealth LLC bought a new position in shares of W. P. Carey during the third quarter valued at $40,000. Abich Financial Wealth Management LLC boosted its stake in shares of W. P. Carey by 2,374.1% in 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 in the last quarter. Fortitude Family Office LLC grew its holdings in shares of W. P. Carey by 962.5% in the 3rd quarter. Fortitude Family Office LLC now owns 680 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 616 shares during the last quarter. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of W. P. Carey in the 3rd quarter worth about $44,000. 73.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on WPC shares. Royal Bank of Canada boosted their target price on W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday. Barclays reduced their price objective on W. P. Carey from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Tuesday, February 4th. JMP Securities restated a “market perform” rating on shares of W. P. Carey in a research note on Thursday. UBS Group reduced their price target 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. Finally, Scotiabank dropped their target price on shares of 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $62.00.

W. P. Carey Trading Up 2.1 %

NYSE:WPC opened at $58.89 on Friday. W. P. Carey Inc. has a 52 week low of $52.91 and a 52 week high of $64.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s fifty day moving average is $55.39 and its 200-day moving average is $57.61. The firm has a market cap of $12.89 billion, a P/E ratio of 23.19, a P/E/G ratio of 1.02 and a beta of 0.97.

W. P. Carey Increases Dividend

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

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.