W. P. Carey Inc. (NYSE:WPC) Shares Purchased by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. boosted its position in W. P. Carey Inc. (NYSE:WPC) by 34.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,105 shares of the real estate investment trust’s stock after purchasing an additional 1,549 shares during the period. Retirement Planning Co of New England Inc.’s holdings in W. P. Carey were worth $333,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. National Pension Service acquired a new stake in W. P. Carey in the fourth quarter valued at about $25,000. Wingate Wealth Advisors Inc. acquired a new stake in W. P. Carey in the fourth quarter valued at about $37,000. RPg Family Wealth Advisory LLC acquired a new stake in W. P. Carey in the third quarter valued at about $44,000. Plato Investment Management Ltd acquired a new stake in W. P. Carey in the fourth quarter valued at about $48,000. Finally, Roxbury Financial LLC acquired a new stake in W. P. Carey in the fourth quarter valued at about $58,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

W. P. Carey Trading Down 0.1 %

Shares of WPC opened at $62.59 on Tuesday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a 50 day simple moving average of $58.72 and a 200-day simple moving average of $58.32. W. P. Carey Inc. has a 1-year low of $52.91 and a 1-year high of $66.10. The stock has a market cap of $13.70 billion, a price-to-earnings ratio of 29.95, a price-to-earnings-growth ratio of 1.06 and a beta of 0.95.

W. P. Carey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a dividend yield of 5.69%. This is a boost from W. P. Carey’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, March 31st. W. P. Carey’s dividend payout ratio (DPR) is 170.33%.

Analyst Ratings Changes

WPC has been the subject of a number of research analyst reports. Scotiabank increased their target price on shares of W. P. Carey from $59.00 to $63.00 and gave the company a “sector perform” rating in a report on Wednesday, March 12th. Evercore ISI increased their target price on shares of W. P. Carey from $60.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, February 19th. JMP Securities reaffirmed a “market perform” rating on shares of W. P. Carey in a report on Thursday, February 13th. Barclays increased their target price on shares of W. P. Carey from $56.00 to $60.00 and gave the company an “underweight” rating in a report on Tuesday, March 4th. Finally, BMO Capital Markets raised shares of W. P. Carey from a “market perform” rating to an “outperform” rating and increased their target price for the company from $60.00 to $67.00 in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $63.75.

About W. P. Carey

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.