Nicholas Hoffman & Company LLC. Boosts Position in W. P. Carey Inc. (NYSE:WPC)

Nicholas Hoffman & Company LLC. boosted its stake in W. P. Carey Inc. (NYSE:WPC) by 32.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,317 shares of the real estate investment trust’s stock after acquiring an additional 4,442 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in W. P. Carey were worth $998,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbour Investments Inc. boosted its position in shares of W. P. Carey by 5.9% in the 3rd quarter. Harbour Investments Inc. now owns 3,626 shares of the real estate investment trust’s stock worth $226,000 after purchasing an additional 203 shares during the last quarter. Creative Planning increased its position in W. P. Carey by 0.3% during the third quarter. Creative Planning now owns 64,709 shares of the real estate investment trust’s stock worth $4,031,000 after buying an additional 207 shares during the last quarter. Demars Financial Group LLC boosted its holdings in shares of W. P. Carey by 2.2% during the third quarter. Demars Financial Group LLC now owns 9,883 shares of the real estate investment trust’s stock worth $616,000 after acquiring an additional 216 shares during the period. Capital Investment Advisory Services LLC boosted its stake in shares of W. P. Carey by 3.1% in the fourth quarter. Capital Investment Advisory Services LLC now owns 8,698 shares of the real estate investment trust’s stock valued at $474,000 after buying an additional 259 shares during the period. Finally, Empowered Funds LLC raised its position in 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 valued at $206,000 after purchasing an additional 271 shares in the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on WPC shares. UBS Group decreased their price objective on W. P. Carey from $62.00 to $60.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Scotiabank lowered 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. Royal Bank of Canada upped their target price on shares of W. P. Carey from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday. Barclays lowered their price objective on shares of W. P. Carey from $59.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, February 4th. Finally, JMP Securities restated a “market perform” rating on shares of W. P. Carey in a report on Thursday. One 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. According to MarketBeat.com, W. P. Carey has a consensus rating of “Hold” and an average target price of $62.00.

W. P. Carey Stock Performance

WPC opened at $58.72 on Monday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a fifty day moving average price of $55.44 and a 200 day moving average price of $57.57. The stock has a market cap of $12.85 billion, a P/E ratio of 23.12, a P/E/G ratio of 1.02 and a beta of 0.97. W. P. Carey Inc. has a 1 year low of $52.91 and a 1 year high of $64.26.

W. P. Carey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 5.99%. The ex-dividend date was Tuesday, December 31st. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.88. W. P. Carey’s dividend payout ratio (DPR) is 138.58%.

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.