Creekmur Asset Management LLC Takes $84,000 Position in W. P. Carey Inc. (NYSE:WPC)

Creekmur Asset Management LLC bought a new position in W. P. Carey Inc. (NYSE:WPC) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,301 shares of the real estate investment trust’s stock, valued at approximately $84,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WPC. First United Bank & Trust bought a new position in W. P. Carey in the fourth quarter worth $27,000. Central Bank & Trust Co. acquired a new position in W. P. Carey during the fourth quarter worth $28,000. FNY Investment Advisers LLC acquired a new position in W. P. Carey during the fourth quarter worth $32,000. EdgeRock Capital LLC acquired a new position in W. P. Carey during the fourth quarter worth $32,000. Finally, Transcendent Capital Group LLC acquired a new position in W. P. Carey during the fourth quarter worth $36,000. 73.73% of the stock is owned by institutional investors.

W. P. Carey Trading Up 0.2 %

WPC stock traded up $0.12 during midday trading on Friday, reaching $56.09. The stock had a trading volume of 1,002,496 shares, compared to its average volume of 1,160,108. The business has a fifty day simple moving average of $56.65 and a two-hundred day simple moving average of $59.32. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.87. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 1.04 and a beta of 0.91. W. P. Carey Inc. has a twelve month low of $51.36 and a twelve month high of $73.38.

W. P. Carey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a $0.87 dividend. This represents a $3.48 dividend on an annualized basis and a yield of 6.20%. This is a positive change from W. P. Carey’s previous quarterly dividend of $0.87. The ex-dividend date is Friday, June 28th. W. P. Carey’s dividend payout ratio (DPR) is presently 131.56%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WPC. Royal Bank of Canada dropped their price objective on W. P. Carey from $65.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Wells Fargo & Company dropped their price objective on W. P. Carey from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Thursday, May 30th. Scotiabank increased their price objective on W. P. Carey from $55.00 to $60.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. Barclays initiated coverage on W. P. Carey in a research note on Wednesday, March 27th. They set an “equal weight” rating and a $40.00 price objective for the company. Finally, UBS Group initiated coverage on W. P. Carey in a research note on Friday, May 31st. They issued a “neutral” rating and a $57.00 target price for the company. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $61.55.

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.